Investor Presentaiton
19 Income Statement Summary
Income Statement Summary
12 Months Period Ending Dec
YOY
In EGP Millions
FY 2014
FY 2013
% Change
Revenue
12,158
11,138
9.15%
Home Services
3,129
2,984
4.8%
Enterprise Solutions 2,031
Domestic Wholesale
1,782
14.0%
2,681
2,258
18.7%
International Carriers Affairs
3,067
3,142
-2.4%
International Customers & Networks
1,250
971
28.7%
EBITDA
Margin
EBIT
Margin
3,841
3,687
4.17%
31.59%
33.10%
2,707
22.26%
3,080
27.65%
-12.12%
Profit Before Tax & Minority Interest
3,084
Margin
25.37%
3,753
33.69%
-17.82%
Net Profit
Margin
EPS
2,031
16.70%
2,958
26.56%
-31.36%
0.89
1.43
Note: All financial figures reported are based on Consolidated financials under Egyptian Accounting Standards.
-37.72%
NPAT
EBIT
EBITDA
Revenue
FY 2014 Results
FY 2014 Revenues witnessed growth of 9%, The growth was across most of
the business units operations, in particular the core retail line of business,
redressing the balance between the wholesale and retail revenues.
The growing demand for broadband services reflected an increase of 19% in
ADSL subscriber base on 2013, and growth in data revenues by 25.1%,
offsetting the decline in voice revenues.
The Increase in total revenues and high profitability, led to a healthy margin
of 31.6%.
The decrease is attributable to the drop in Income From Direct Investments;
mainly the decrease in VFE's earnings by EGP 138 Million.
The decline was mainly attributable to a number of one-offs. The additional
EGP 149 million for provisions formed to hedge for future sales taxes, on FY
2013, another EGP 113 million deducted during the year for tax reviews with
the local tax authorities for delayed settlements. Additionally, the additional
5% increase in corporate taxes by law with a noticeable EGP 70 million
impact, and the hike in Deferred Taxes for contingent liabilities associated
with taxes on dividends amounting for an additional EGP 308 million.
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