July 29, 2020 | telecom

Covid-19 Hits Asiacell Earnings


Government measures designed to limit the spread of the COVID-19 pandemic impacted Asiacell's results for the half year ended June 30, 2020.

The company reported revenues of QAR 1.9 billion in H1 2020, down 10% compared to the same period last year. As a result, EBITDA declined to QAR 828 million (H1 2019: QAR: 970 million) during the first half of 2020. Asiacell continued to manage costs to absorb the impact of revenue declines by optimising operational efficiency and controlling its marketing spend.

Asiacell's customer base decreased by 4% to 13.3 million customers at the end of H1 2020, as movement restrictions and curfews were implemented across the country. To help keep communities connected during the COVID-19 pandemic, Asiacell offered its customers data bonus on recharge, doubled their quota on emergency credit and extended the validity of prepaid lines.

The company continued to prepare for the launch of 4G as the Government committed to allow operators to launch LTE services in 2021.

Iraq-businessnews

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