Digicel revenue grows to €919m

THE Denis O’Brien-owned network of mobile telephone companies, Digicel, pushed up revenues by 16% in the first half of the year to $1.24 billion (€919 million).

Digicel yesterday disclosed its latest financial and subscriber figures for operations in 30 separate markets in Caribbean, El Salvador and the Pacific.

EBITDA (earnings before interest, taxes, depreciation and amortisation) was up 15% year-on-year to $524m for the six-month period, with the most recent quarter contributing $270m EBITDA.

“With subscribers up 14% year-on-year to 11.1 million across Digicel’s 30 markets worldwide, performance has been strong across the board with revenue growth in all of Digicel’s major markets including El Salvador, French West Indies, Haiti, Jamaica, Papua New Guinea and Trinidad and Tobago.

“Haiti in particular experienced rapid growth adding 830,000 new subscribers in the first six months of the financial year,” the company said.

Digicel said revenue earned from value-added- services like web browsing and messaging was up 47% year-on-year, helped by strong demand for smartphones.

Digicel also disclosed that it has signed an agreement to extend and upsize its senior credit facility, which will see $282m of new funds committed.

Digicel Group chief executive, Colm Delves, said: “Our latest set of financial results reflect Digicel’s ongoing strong growth and out performance of our industry peers.

“I am pleased to report that we have seen growth across the board and are also continuing to diversify our revenue mix with significant increases in value-added services.

He went on to say that the refinancing of its senior credit facility was well supported and provides the group with further balance sheet flexibility.

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