EUR 236.14 For Business Accounts Only

A really good achievement

GTH recorded flat 9M 2016 revenues at US$2.188bn, mainly due to the slowdown in Algeria, offsetting the continued solid performance in Bangladesh and the double-digit growth in Pakistan. After a historical domination of the group’s revenues, Djezzy, GTH’s Algerian unit, lost one place to become the group’s second revenue contributor (35.9% of 9M 2016 total revenues vs. 44.4% in 9M 2015) recorded a 18.6% decrease in its 9M 2016 revenues (-10%, in local currency), due to customer churn and ARPU erosion. For its part, Pakistan has become the group’s largest revenue contributor with 41.2% of 9M 2016 total revenues vs. 34.1% in 9M 2015. Indeed, the revenues rose by 21.3%, yoy, (+15% in local currency), thanks to the consolidation of Warid Telecom since 01/07/2016. Note that Mobilink has demonstrated a strong stand-alone performance with double-digit revenues growth of 16%, yoy, supported by all revenue streams. In Bangladesh, there was a 3.7%, yoy, increase in revenues (+5% in local currency terms), driven mainly by the continued strong growth in data revenue (+54%, yoy). Excluding Warid, the group’s revenues would have decreased by 3.6% at US$2.106bn. The number of subscribers increased by 13.6%, yoy, to 95.9 million customers by the end of the 9M 2016, driven by strong customer additions in Pakistan (+45%), offsetting the decreases by 6% and 10% respectively in Algeria and in Bangladesh.