Sudatel posts H1 net profit of USD24m; agrees sale of Ghanaian unit
Sudatel Telecom Group (STG) has announced its preliminary results for the first half of 2014, reporting consolidated EBITDA of USD75 million, an increase of 17% year-on-year and reflecting an improved EBITDA margin of 32%, compared to 27% in H1 2013.
In a press release on its website, the Khartoum-based company said revenue for the six-month period totalled USD233 million, while net income increased 41% year-on-year to USD24 million. The group’s Sudanese business accounted for 56% of revenues and 66% of active subscribers, which totalled 11.2 million as at 30 June 2014.
Internationally, STG’s West African operations recorded its first positive net income since its establishment, attributed to a high level of efficiency in Mauritania, change of the marketing strategy in Senegal and stabilisation efforts in Guinea. Without naming the buyer or the financial terms of the deal, STG revealed it agreed the sale of shares in its Ghanaian mobile unit Expresso (Kasapa Telecom) during the second quarter of 2014. The firm added that Intercel Guinea (Expresso) has entered agreements with Chinese equipment vendor ZTE to invest around EUR20 million (USD26.7 million) in the expansion of its mobile network coverage and capacity.
‘STG is strategically considering smart investments in Sudan and West Africa operations to continue business improvements, and enhance position in all markets,’ commented STG board chairman, Abdelrahman Mohamed Dirar, adding: ‘Data, on both fixed and mobile platforms, is the strategic direction and focus for our future, utilising the good infrastructure that Sudatel owns.’