Oger Telecom revenues rise
Dubai, June 20, 2007
Oger Telecom has announced its strong results for the year ended December 2006.
Oger Telecom reported total group revenues for the year of $5.79 billion ($6.86 billion on a proforma basis1) with an operating profit of $1.346 billion, a net income of $1.283 billion and an EBITDA of $2.745 billion ($2.866 billion on a proforma basis1).
2006 was a consolidating year for the Group having acquired Cell C in July, Avea in September following the Türk Telekom acquisition of 40.5 per cent stake in Avea from Telecom Italia, and Cyberia, an Internet Service Provider operating in Saudi Arabia, Jordan and Lebanon, in December 2006.
Commenting on the strong results, Oger Telecom chairman Mohammed Hariri, said:
“I am delighted to report these encouraging results for Oger Telecom. Last year was one of dramatic change and progress for our group whose continuing strategy is to become an even greater force in telecommunications and internet services in emerging markets.”
Dr Paul Doany, chief executive officer of Oger Telecom and executive chairman of Türk Telekom, added:
“The strong profitability performance of the Group is a result of a year of very hard work by all involved at Oger Telecom and the staff in all our operations.
“As Executive Chairman of Türk Telekom I am personally very pleased with the substantial growth in ADSL subscribers, in excess of 3.6 million by mid-year for TTNet in Turkey.
“In conclusion, 2006 was a transitional year for Oger Telecom, one that saw rapid change.
“This year we are concentrating on improving operating efficiency and financial performance throughout the group. Both years have imposed considerable challenges and we would like to thank all our employees who have helped provide good quality service to our existing customers and continue to attract many new ones.”
Oger Telecom is a leading provider of telecommunications services.
It operates fixed-line, mobile communications and Internet access businesses in Turkey, mobile communications in South Africa and it is a major regional ISP in Saudi Arabia, Lebanon and Jordan, below the Key Performance Indicators for each operation have been listed: TradeArabia News Service