Vodafone Egypt service revenue grows to €371 million in Q3-FY21

Vodafone, the world’s second largest mobile operator, said on Thursday its service revenue in Egypt grew by 4.2 percent year-on-year for the third quarter of the financial year that ended in December.

Vodafone Egypt recorded third-quarter service revenues worth €371 million ($447 million or around 6.9 billion Egyptian pounds).

Vodafone’s financial year begins in April per year and ends in March.

Service revenue in Egypt made an organic growth of 8.8 percent ahead of inflation, “supported by customer base growth, increased mobile data usage, and the impact of a prior year settlement.”

“In November 2020, we announced that Vodafone Egypt had acquired 40MHz of 2.6 Ghz spectrum, with a 10-year licence through to 2030. The spectrum will enable us to significantly expand network capacity to meet growing demand for reliable, high quality voice and data services.” Vodafone said in a statement.

The number of subscribers using Vodafone Egypt’s network exceeded 41.1 million, of which postpaid line users captured 11.3 percent share.