Corporate news
Telecom Egypt [ETEL]
Commentary on the results of the first nine months of the year
- Revenue increased by 34% (YoY) to EGP 78 bn.
- Net profit increased by 96% (YoY) to EGP 17 bn.
- Net debt to EBITDA decreased to 1.5 times from January to September 2025, compared to 2.3 times for the same period of the previous year.
At the segments level
-The home & consumer achieved revenues of EGP 37 bn, representing a YoY growth of 44.1%.
-The enterprise achieved revenues of EGP 7.2 bn, representing a growth rate of 14.6% YoY.
-The domestic wholesale achieved revenues of EGP 7.88 bn, representing a growth of 44.3% YoY.
-The International Carriers Unit achieved revenues of EGP 14.33 bn, representing a growth of EGP 35.9 bn YoY.
-The international customers & networks achieved revenues of EGP 10.59 bn, representing a growth rate of 19.5% YoY.
The company’s management aims to maintain CAPEX to sales ratio at around 20%, and this ratio reached 16% in the first nine months of the year, which is in line with the company’s strategy. Press news mentioned that, Helios may acquire a stake in Egypt’s Telecommunications Towers for USD 250-300 M, equivalent to EGP 11.8-14 bn, and this will enable the company to repay part of the loans, which totaled approximately EGP 76 bn on September 30, 2025 and this will positively impact the company’s net profits.
Walaa Mosalam - Head of Research
WMosalam@egy.primegroup.org