Digicel revenues up 7pc to US$580m

24 Feb 2011

Denis O’Brien’s Caribbean and South American mobile operator Digicel has reported revenues of US$580m for the past quarter, up 7pc.

The company reported EBITDA (earnings before interest, taxes, depreciation and amortisation) was up 32pc year on year and reached a record high of more than US$240m.

Subscribers were up 7pc year-on-year to 11.5m across Digicel’s 32 markets worldwide. The company said it has seen growth in all of its major markets, including El Salvador, Haiti, Jamaica, Papua New Guinea and Trinidad and Tobago and data revenues have doubled year on year.

Future Human

“Digicel has outperformed its industry peers with strong revenue growth and robust margins,” Digicel Group CEO Colm Delves explained.

“We remain committed to ensuring our customers benefit from best value, service and network – and in our ongoing efforts to give back to our communities. I would like to thank our valued customers and staff for making Digicel the success it is today,” Delves said.

Bill & Melinda Gates Foundation awards Digicel US$2.5m grant

During the quarter, Digicel launched mobile money services in Haiti under the ‘Tcho Tcho’ Mobile brand and the award of the “first to market” grant of US$2.5m from the Bill & Melinda Gates Foundation.

The company also reported the successful launch of its 3G+ service in the French West Indies.

The company reported the issuance of US$300m of senior notes – proceeds of which are to be used for general corporate purposes. It also acquired two ICT businesses – Netxar in the Caribbean and Datanets in Papua New Guinea – to further expand Digicel ICT expertise and capabilities.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years