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A

ADSL: Asymmetric Digital Subscriber Line; a new technology that provides high transmission speeds for video and voice to homes over ordinary copper telephone wire.

Annual General Shareholder’s Assembly: This is required to be held each year, within three months from the end of the financial year, in order to approve annual financial statements

ARPU: Average Revenue per User; A measure of the revenue generated per user or unit. This measure allows for the analysis of companies' revenue generation and growth at the per unit level, which can identify which products are high or low revenue-generators. (ARPU = Total Revenue / Average number of subscribers during the year).

B

BSC: Base Station Controller; provides the intelligence behind the BTSs, the BSC handles allocation of radio channels, receives measurements from the mobile phones,

BTS: Base Transceiver Station; contains the equipment for transmitting and receiving of radio signals (transceivers), antennas, and equipment for encrypting and decrypting communications with the Base Station Controller (BSC).

C

Capex: Capital Expenditure. Investments in tangible and intangible assets, this type of outlay is made by companies to maintain or increase the scope of their operations.

Carrier’s carrier: A network operator who provides network services to other telecommunications companies

CASE (Cairo and Alexandra Stock Exchanges): Egypt's Stock Exchange is comprised of two exchanges, Cairo and Alexandria, both of which are governed by the same board of directors and share the same trading, clearing and settlement systems.

Cash Flow: is a term that refers to the amount of cash being received and spent by a business during a defined period of time.

CDMA: Code Division Multiple Access; is a channel access method utilized by various wireless interface technology for mobile networks based on spectral spreading of the radio signal and channel division by code domain.

Customer Centricity: Comprehensive customer orientation – i.e. refers to the orientation of a company to the needs and behaviors of its customers, rather than internal drivers. The opposite would be product centricity, where a company focuses primarily on its products

Customer Segmentation: Division of customers into homogenous groups (segments), representing a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs, and to deal with each customer segment on a differentiated basis.

E

EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortization; it can be used to evaluate a company's profitability. EBITDA = Operating Revenues – Expenses (excluding Interest, tax, depreciation, and amortizration)

EBITDA Margin: EBITDA/ Operating Revenues

EPS: Earnings per Share

F

Free Cash Flow: Free Cash Flow = Net Income + (Depreciation / Amortization) – changes in working capital – capital expenditures. It can also be calculated by taking operating cash flow and subtracting capital expenditures.

FTTx Fiber to the x (FTTx): is a generic term for any broadband network architecture that uses optical fiber to replace all or part of the usual metal local loop used for last mile telecommunications. This generic term originates as the generalization of several configurations of fiber deployment (FTTN, FTTC, FTTB, FTTH...), all starting by FTT but differentiated by the last letter, which is substituted by an x in the generalization.

G

GAAP: Generally Accepted Accounting Principle; The common set of accounting principles, standards and procedures that companies use to compile their financial statements. GAAP is a combination of authoritative standards (set by policy boards) and simply the commonly accepted ways of recording and reporting accounting information.

GDP: Gross Domestic Product; GDP of a country is one of the ways of measuring the size of its economy. GDP is defined as the total market value of all final goods and services produced within a given country in a given period of time (usually a calendar year). GDP = consumption + gross investment + government spending + (exports − imports)

Gearing Ratio: A general term describing a financial ratio that compares some form of owner's equity (or capital) to borrowed funds. Gearing is a measure of financial leverage, demonstrating the degree to which a firm's activities are funded by owner's funds versus creditor's funds.

Goodwill: An account that can be found in the assets portion of a company's balance sheet. Goodwill can often arise when one company is purchased by another company. In an acquisition, the amount paid for the company over book value usually accounts for the target firm's intangible assets.

GPRS: General Packet Radio Service; is a packet oriented Mobile Data Service available to users of Global System for Mobile Communications (GSM). It allows higher data transmission rates in GSM networks.

GSM: Global System for Mobile Communications; is the most popular standard for mobile phones in the world.

I

IFRS: International Financial Reporting Standards; are new standards and interpretations adopted by the International Accounting Standards Board (IASB), introduced as of 1 January 2005.

Internet: is a worldwide, publicly accessible series of interconnected computer networks that transmit data by packet switching using the standard Internet Protocol (IP).

IP: Internet Protocol; is a data-oriented protocol used for communicating data across a packet-switched internetwork.

ISDN: Integrated Services Digital Network; is a circuit-switched telephone network system, designed to allow digital transmission of voice and data over ordinary telephone copper wires, resulting in better voice quality than an analog phone.

ISP: Internet Service Provider; is a business or organization that provides consumers or businesses access to the Internet and related services.

L

LSE: London Stock Exchange; is a stock exchange located in London, England, United Kingdom, it is one of the largest stock exchanges in the world, with many overseas listings as well as British companies.

M

MCIT: Egyptian Ministry of Communication and Information Technology

MOU: Minutes of Usage; Monthly average of outgoing and incoming traffic in minutes per average number of users in the period

MSC: Mobile Switching Centre; is the primary service delivery node for GSM, responsible for handling voice calls and SMS as well as other services (such as conference calls, FAX and circuit switched data).

N

NTRA: Egyptian National Telecommunications Regulatory Authority

S

SAC: Subscriber Acquisition Cost.

SME: Small Medium Enterprise; are companies whose headcount or turnover falls below certain limits.

T

Teledensity: Telecommunications penetration expressed as a percentage of population

Triple play service: is a marketing term for the provisioning of two bandwidth-intensive services, high-speed Internet access and television, and a less bandwidth-demanding (but more latency-sensitive) service, telephone, over a single broadband connection. Triple play focuses on a combined business model rather than solving technical issues or a common standard.

V

VOIP: Voice Over Internet Protocol; is a protocol optimized for the transmission of voice through the Internet or other packet switched networks.