Solid revenues, but a return to net loss
GTH recorded Q1 2017 revenues of US$752m, up by 6.4%, thanks to the strong growth in Pakistan offsetting the weak performance in Algeria and the slowdown in Bangladesh. After a historical domination of the group’s revenues, Djezzy, GTH’s Algerian unit, lost one place in 2016 to become the group’s second revenue contributor (30.5% of Q1 2017 total revenues vs. 39.1% in Q1 2016) recorded a 16.8% decrease in its Q1 2017 revenues (-15.2%, in local currency), due to customer churn and ARPU erosion, the latter exacerbated by price competition.
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