Digicel revenues up 12%

Digicel has today announced its financial results for the year ended March 31, 2010.

Subscribers up 15% to 10.8 million across all 32 markets, driven in particular by major growth in the Central American and Pacific markets.

Digicel closed out the year with revenues of US$2.2bn (€1.77bn), a 12% gain year-on-year and a compound annual growth rate of 24% from 2007 to 2010, when all Digicel markets are included.

In terms of Digicel Group Limited (which comprises 24 markets across the Caribbean and El Salvador), revenues were US$1.75bn (€1.41bn) – up 1% year on year and 5% in constant currency terms – with EBITDA margin increasing to 43%, up from 39% the previous year.

In those 24 markets, Digicel achieved a 31% growth in data revenues year on year while the postpaid subscriber base grew by 18% year-on-year.

Digicel also continued to lead the way across the region in the provision of BlackBerry services with BlackBerry user numbers going up by 138%.

Digicel Group CEO, Colm Delves said: "It’s been another great year for Digicel. Our promise and commitment to our customers to deliver best value, best service and best network is continuing to translate into sustained growth and strong performance resulting in us once again over delivering against all of our internal targets.

"I would like to thank our customers for their ongoing loyalty to Digicel and to assure them that our focus continues to be on ensuring that they benefit from being with the Bigger, Better Network. In addition, I would like to thank our fantastic staff for their continued great work, commitment and enthusiasm – they are the bedrock of our success."