Digicel subscribers rise 27%
DIGICEL Group increased its subscriber base by 27 per cent to 12.8 million over the financial year ending March 31, 2012, reporting US$1.1 billion ($96.3 billion) EBITDA (earnings before interest, taxes, depreciation and amortisation) for the period.
The EBITDA represented a 13 per cent jump year-on-year, while revenues were up by 14 per cent to US$2.54 billion.
“I am pleased to report that Digicel has closed out another strong year in which, for the first time in our 11-year history, our annual EBITDA was over US$1 billion,” said Digicel Group CEO Colm Delves. “I would like to take this opportunity to thank our customers for their loyalty to Digicel and our partners and staff who always go the extra mile to ensure that our customers benefit from what we do and how we do it.”
Digicel operates in 30 markets across the Caribbean, Central America and the Pacific. The telecommunications group reported a 47 per cent increase in value-added services and data revenues, which now account for 20 per cent of overall service revenues. The growth was driven by Digicel’s 4G Mobile offering and the rise in smartphone usage, the company said.
The company also reported that its Diaspora business saw its revenues grow by 28 per cent year-on-year.
Cash reserves stood at over US$657 million at March 31 2012, the company added, noting that its strong financial performance has been endorsed by ratings agency Fitch.
“The results announced today reflect the continued growth and development of Digicel in the Caribbean, Central America and Asia Pacific. The success of Digicel is due to the commitment of a very strong management team and workforce whose sole focus is on the highest standards of service delivery in all markets,” said Digicel chairman Denis O’Brien.
Digicel said its key achievements this year included the rollout of 4G services based on HSPA+ technology in 14 markets, including Aruba, Bonaire, Curacao, Barbados and Cayman Islands; the acquisition of Voila in Haiti and the completion of the acquisition and integration of Claro in Jamaica.
Digicel’s investment across its 30 markets worldwide totals US$4.5 billion and the company employs over 4,700 people worldwide.
