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Saturday, December 5 - 2009

The Egyptian Company for Mobile Services

Name The Egyptian Company for Mobile Services
Sector Telecom - Mobile operator
Trading CASE
RIC Code EMOB.CA
Location EGYPT

Profile and Background

The Egyptian Company for Mobile Services "Mobinil", which started operations on 21st May 1998, was the first GSM operator to be launched in Egypt. It now covers more than 91.1% of Egypt and has international roaming agreements with 261 operators in 112 countries.

Mobinil is owned at 31.3% by Orascom Telecom Holding, 36.3% by France Telecom's Orange and 32.4% is free float. The number of Mobinil's active subscribers, according to the 3-month rule, reached 6.7 million as at 31 December 2005, implying a net addition of 702K in Q4 2005 and an increase of 67% YoY.

As a result, mobile penetration rose to 16.7% as at 31 December 2005 based on the number of active subscribers announced by the two mobile operators. Mobinil's blended ARPU stood at EGP 82 for 2005 (vs.

EGP 108 for 2004). Since it started operations in 1998, Mobinil has retained a subscriber market share above 50% (53.2% as at 31 December 2005)

Shareholding Groups

Individuals N/A
Institutions 68%
Floating 30%
Government 2%

Stock Performance

The Egyptian Company for Mobile Services Stock Performance

Market Information

Stock Egypt Index
Last Closing EGP 183 2342.38
YTD % 40.88% 50.24%
Weekly % -4.439% -5.34%
Year High EGP 200 2538.48
Year Low EGP 129.9 1559.12
52 Week High EGP 200 2538.48
52 Week Low EGP 73 906.69
BETA 0.5339
Outstanding Shares 100,000,000
Market Cap EGP 18,300,000,000
Market Cap in $ USD $3,157,894,737
% of Egypt Market 9.01%
% of Sector 20.35%
Rank by Cap 4

Key Figures in '000 EGP

2003 2002 2001
Total Assets 5,534,427 4,924,804 4,976,026
Shareholder's Equity 1,970,739 1,631,083 1,482,682
NIAT 915,150 422,801 336,870
Dividends 1,118,000 668,000 N/A

Financial Ratios

2003 2002 2001
Assets Growth 12.38% -1.03% 7.53%
Earning Growth 116.45% 25.51% 16.46%
ROaA 17.50% 8.54% 7.02%
ROaE 50.82% 27.16% 24.22%
No. Of Shares 100,000,000 100,000,000 100,000,000
EPS 9.15 4.23 3.37
EPS Growth 116.45% 25.51% 16.46%
Payout Ratio 122.166 157.994 N/A

Valuation Ratios

Trailing
PE 20.00
PB 9.29
DVPS 11.18
Div Yield 6.11%
EV 7,551,000.00
EV/Equity 3.83
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