DIGICEL GROUP LIMITED ANNNOUNCES STRONG FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2011 WITH REVENUES AND EBITDA UP 27%
Continues to grow and innovate
Monday, 13th June, 2011 – Kingston, Jamaica. Digicel Group Ltd, the best value mobile operator, today announced another strong set of financial results showing robust growth for the year ended 31 March 2011.
With subscribers up 6% to 11.5 million across all 32 markets, revenues for Digicel Group Limited were up 27% to US$2.23 billion with EBITDA margins solid at 43% following the successful integration of the Pacific.
The company posted EBITDA of US$954 million for the year up from US$753 million the previous year and representing a year on year increase of 27% - similar to its revenues growth.
Digicel’s balance sheet and liquidity position has continued to improve with cash reserves of over US$600 million at 31 March 2011.The Group’s strong financial performance has been endorsed by ratings agency, Fitch, which recently upgraded the Group’s debt as a result of its “continued strong operating performance”.
Digicel made significant progress in terms of data services with data revenues up 104% year on year and continued strong growth of non-SMS data revenue. Overall, data now accounts for 15% of service revenues.
Commenting on the performance, Digicel Group CEO, Colm Delves, said; “It’s been another successful year for Digicel as we continue to grow our business, introduce innovative new technologies to our customers and deliver on our commitments to providing best value, best service and best network. We have successfully integrated our Caribbean and Pacific operations and expanded our capabilities in the business solutions area and have driven growth in our Caribbean and Pacific markets – especially in Haiti and Papua New Guinea
He continues; “This – in addition to the improving economic conditions across our markets – has resulted in robust performance and delivery on all of our targets once again. I would like to thank our valued customers, partners and staff for their ongoing loyalty to Digicel and assure them that our focus remains as always on delivering them the best of the best.”
Key achievements include:
· Launch of 3G+ services (based on HSPA+ technology) in Bermuda and the French West Indies
· Successful launch of 4G Broadband in Jamaica – taking broadband internet penetration in Jamaica from 17% to 20% in just nine months
· America Movil transaction which saw Digicel announcing an agreement to acquire America Movil’s Claro business in Jamaica and to sell to America Movil its businesses in El Salvador and Honduras. The deal is currently undergoing regulatory and Government approvals.
· Acquisition of Netxar Technologies in Puerto Rico and Data Nets in Papua New Guinea and the subsequent launch of cloud services in Barbados, Cayman Islands, Jamaica and Trinidad & Tobago making Digicel the ICT one stop shop for business communications needs
· Wins at the World Communications Awards and the Global Telecoms Business Innovation Awards
· A US$1.2 million commitment to build a paediatric cardio unit at the Bustamante Children’s Hospital in Kingston, Jamaica
· Ongoing positive impact on communities by the Digicel Foundations – with the Foundations on track to have 70 new schools in place by the start of the school year in Haiti, 186 projects completed in Jamaica and US$2.5 million directed at a range of social initiatives in Papua New Guinea including the establishment of 98 educational facilities.
Digicel’s investment across its 32 markets worldwide totals US$4.5 billion and the company employs over 5,500 people worldwide.
After ten years of operation, Digicel Group Limited has 11.5 million customers across its 32 markets in the Caribbean, Central America and the Pacific. The company is renowned for delivering best value, best service and best network.
Digicel is the lead sponsor of Caribbean, Central American and Pacific sports teams, including the Special Olympics teams throughout these regions. Digicel sponsors the West Indies cricket team and is also the title sponsor of the Digicel Caribbean Championships and the Copa de Naciones Digicel. In the Pacific, Digicel is the proud sponsor of several national rugby teams and also sponsors the Vanuatu cricket team.
Digicel also runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Jamaica, Haiti and Papua New Guinea which focus on educational, cultural and social development programmes.
In 2004, Digicel developed Digicel Rising Stars – an annual talent show to support aspiring young music artists in the Caribbean. The show has spanned the Eastern Caribbean, Haiti, Jamaica and Trinidad & Tobago ranking as one of the top-rated shows.
Digicel is incorporated in Bermuda and its markets comprise: Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, the British Virgin Islands, the Cayman Islands, Curacao, Dominica, El Salvador, Fiji, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Honduras, Jamaica, Martinique, Nauru, Panama, Papua New Guinea, Samoa, St Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Tonga, Trinidad & Tobago, Turks & Caicos and Vanuatu. Digicel also has coverage in St. Martin and St. Barts in the Caribbean.
Visit www.digicelgroup.com for more information.