Corporate news

ETEL | 1Q26 Financial Results

The financial results reflected revenue growth by 14% compared to 1Q25 reaching EGP 28.2 bn, supported by growth in the data segment which recorded EGP 13 bn up from EGP 10.9 bn in 1Q25, meanwhile , international calls revenue increased by 27% yoy reaching EGP 4 bn compared to EGP 3.5 bn in the same period last year.

ETEL witnessed growth in its customer base with the number of mobile, fixed broadband and fixed voice subscribers increasing by 7%, 8% and 7% respectively compared to the same period last year.

EBITDA increased by 17% compared to the same period last year and EBITDA margin achieved 45%.

The company reported net profit of EGP 3.6 bn ( - 23% yoy) , due to higher non-cash foreign exchange losses recorded EGP 5.3 bn.

In conclusion, we noted that segments growth rates came in lower than those achieved during 1Q25 which we intend to clarify with management during the earnings call.

Walaa Mosalam - Prime Research

WMosalam@egy primegroup org