Algeria: Djezzy reports 4.7% Q1 revenue rise; hikes investments to improve network
April 23rd 2023
Algerian mobile operator Djezzy posted a 4.7% year-on-year rise in Q1 2023 turnover to DZD23.9 billion (USD176 million) – albeit a slight decrease from the previous quarter’s DZD24.3 billion revenue – which it said was helped by ‘a commercial strategy and a multiplication of strategic partnerships aimed at expanding the corporate customer base, contributing to the establishment of an ecosystem that creates added value.’ Djezzy – controlled by the government’s National Investment Fund (Fonds National d’Investissement, FNI) since August 2022 – highlighted that it ‘continued on the same investment dynamic’ initiated in the fourth quarter of 2022, as quarterly CAPEX reached DZD7.46 billion in January-March 2023, an increase of 98.2% y-o-y, on the back of 4Q22’s DZD8.00 billion CAPEX (up 85.2% y-o-y), which it said made it possible to extend 4G network coverage to 80.8% of the population by end-1Q23, up from a figure of 73% reported twelve months earlier, as well as improving the quality of connectivity to meet growing data consumption needs.
Djezzy’s Q1 report claimed a 3.7% y-o-y rise in subscriptions to 14.9 million, while TeleGeography notes that the company’s subscription figures may differ from the reports of the Authority for Regulation of Post & Electronic Communications (Autorite de Regulation de la Poste et des Communications Electroniques, ARPCE), which had already attributed Djezzy a higher total of nearly 15.2 million by end-2022.
EBITDA stood at DZD10.7 billion in the first quarter of 2023, up 8.3% compared to the same period of 2022 – albeit slightly lower than the peak DZD11.1 billion EBITDA reported in 4Q22 – giving a Q1 EBITDA margin of 44.8%, up 1 .5 percentage points y-o-y, ‘reflecting the good management of the company,’ Djezzy added.
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