Kazakhstan's largest telecom company receives record income

Business Materials 31 October 2019 14:35 (UTC +04:00)

BAKU, Azerbaijan, Oct. 31

By Nargiz Sadikhova - Trend:

Net income of Kazakhstan’s Kazakhtelecom telecommunications company has exceeded 51 billion tenge ($131.8 million), which is a record-breaking amount for the company, Trend reports with reference to Kazakhtelecom.

According to the results of first nine months of 2019, consolidated assets of the company grew by over two times and equaled 1.62 trillion tenge ($4.1 billion). Furthermore, revenue value equaled 298.6 billion tenge ($771.9 million), up 90 percent from nine months of 2018.

Following the end of first three quarters on 2019, net income of the company increased by 27 percent and amounted to record-breaking 51.2 billion tenge ($132.3 million). Operational efficiency of the group is 90 percent according to earnings before interest, tax, depreciation and amortization indicator (EBITDA). EBITDA margin amounted to 43.1 percent.

According to Chief Financial Officer of Kazakhtelecom Askhat Uzbekov, the positive dynamic is mainly due to significant improvement of financial indicators of mobile operators.

“As a result of purchasing controlling interest of Kcell company and acquiring of full ownership of Tele2-Altel joint venture both market positions and the operating portfolio of companies have strengthened, which proves the correctness of the company’s strategy chosen by shareholders and management. I am sure that increase of company’s business efficiency will affect investments attractiveness and stability of Kazakhtelecom in long term,” he said.

Furthermore, currently Kazakhtelecom is concerned with implementation of the largest private public partnership project for provision of remote districts of the country with high-speed internet.

Established in 1994, Kazakhtelecom JSC is the largest telecommunications company in Kazakhstan, has the status of a national telecommunications operator.


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