FY 2025 Results: Telecom Egypt Delivers Growth Ahead of Expectations
26 February 2026
FY 2025 Key Highlights
FY2025 demonstrated the power of executing from strength. We delivered growth ahead of expectations—validating our strategy and disciplined execution.
Total revenue increased by 31% YoY to EGP 106.7 billion, and EBITDA grew to EGP 47.5 billion, delivering an EBITDA margin of 45%. This performance reflects effective pricing execution and strong demand for connectivity and digital services, with disciplined cost management supporting resilient margins.
Operationally, we expanded our customer base across mobile, data, and voice by 10%, 8%, and 7% YoY, respectively, supported by continued improvements in network quality and a customer-centric commercial approach. Data demand remained a key growth engine, reflecting rising consumption and reinforcing the strategic importance of our network investments in enabling Egypt’s digital transformation.
We continued to strengthen Egypt’s role as a regional connectivity hub, with Wholesale growth driven primarily by higher revenue from International Incoming Calls, Cable Projects and Domestic Infrastructure Services contributing a further 12%, 6%, and 4% to total revenue growth, respectively.
Net profit more than doubled to EGP 22.6 billion (+123% YoY), delivering a 21% margin, driven by strong operations and a 71% increase in VFE income.
We enhanced cash conversion, with lower Cash Capex (including license) of EGP 29.6 billion (28% of sales) down from EGP 35 billion in FY 2024, and a sharp improvement in FCFF at EGP 21.1 billion, up from negative EGP 1.6 billion in FY 2024, supported by disciplined capital allocation.
Looking ahead, we enter 2026 with supportive fundamentals. Egypt’s economy is expected to continue strengthening, with FY2025/2026 real GDP growth projected at 5.1% (CBE), underpinned by structural reforms, increased investment, and sustained momentum in the ICT sector.
We also welcome the 2026–2030 National Spectrum Strategy, which supports our plan to rollout next-generation services, enables us to expand our long-term network capacity, and reinforces our ability to execute. In 2026, our priorities are clear: focus on sustainable value creation, allocate capital to maximize returns, and continue strengthening customer experience across our integrated service offering.
Sustainability remains integral to how we invest and operate. This year, we will continue advancing sustainability initiatives, including modernizing our network, and reinforcing responsible operations—aligning growth with long-term resilience and value creation.
Reflecting our confidence in the company’s performance and our commitment to delivering shareholder value, the Board of Directors has proposed a dividend of EGP 1.5 per share for FY2025, subject to the General Assembly’s approval.
- Total revenue increased 31% to EGP 106.7 billion, supported by broad-based momentum across key segments, led by a 46% YoY hike in Data revenue, which contributed to 59% of overall growth. This was followed by a 30% YoY increase in International Incoming Calls revenue, a 31% YoY increase in Cable Projects, and an 11% YoY increase in Domestic Infrastructure Services revenue.
- Customer base increased YoY across Mobile, Fixed Broadband, and Fixed Voice by 10%, 8%, and 7%, respectively.
- EBITDA witnessed a 46% YoY increase, reaching EGP 47.5 billion, and recording a 45% margin.
- Net profit more than doubled to EGP 22.6 billion (+123% YoY), delivering a 21% margin, driven by strong operations and a 71% increase in VFE income, outweighing the higher interest expense (+18%) and D&A (+16%).
- In-service Capex reported EGP 20.4 billion (19% of sales), while Cash Capex reported EGP 29.6 billion (28% of sales).
- Net debt/EBITDA improved materially to 1.3x from 2.2x in the prior year, reflecting stronger EBITDA and disciplined capital allocation, and enhancing financial flexibility.
- FCFF, turned positive at EGP 21.1 billion, up from (EGP 1.6) billion in FY 2024, reflecting stronger cash generation and improved working capital/capex efficiency.
FY2025 demonstrated the power of executing from strength. We delivered growth ahead of expectations—validating our strategy and disciplined execution.
Total revenue increased by 31% YoY to EGP 106.7 billion, and EBITDA grew to EGP 47.5 billion, delivering an EBITDA margin of 45%. This performance reflects effective pricing execution and strong demand for connectivity and digital services, with disciplined cost management supporting resilient margins.
Operationally, we expanded our customer base across mobile, data, and voice by 10%, 8%, and 7% YoY, respectively, supported by continued improvements in network quality and a customer-centric commercial approach. Data demand remained a key growth engine, reflecting rising consumption and reinforcing the strategic importance of our network investments in enabling Egypt’s digital transformation.
We continued to strengthen Egypt’s role as a regional connectivity hub, with Wholesale growth driven primarily by higher revenue from International Incoming Calls, Cable Projects and Domestic Infrastructure Services contributing a further 12%, 6%, and 4% to total revenue growth, respectively.
Net profit more than doubled to EGP 22.6 billion (+123% YoY), delivering a 21% margin, driven by strong operations and a 71% increase in VFE income.
We enhanced cash conversion, with lower Cash Capex (including license) of EGP 29.6 billion (28% of sales) down from EGP 35 billion in FY 2024, and a sharp improvement in FCFF at EGP 21.1 billion, up from negative EGP 1.6 billion in FY 2024, supported by disciplined capital allocation.
Looking ahead, we enter 2026 with supportive fundamentals. Egypt’s economy is expected to continue strengthening, with FY2025/2026 real GDP growth projected at 5.1% (CBE), underpinned by structural reforms, increased investment, and sustained momentum in the ICT sector.
We also welcome the 2026–2030 National Spectrum Strategy, which supports our plan to rollout next-generation services, enables us to expand our long-term network capacity, and reinforces our ability to execute. In 2026, our priorities are clear: focus on sustainable value creation, allocate capital to maximize returns, and continue strengthening customer experience across our integrated service offering.
Sustainability remains integral to how we invest and operate. This year, we will continue advancing sustainability initiatives, including modernizing our network, and reinforcing responsible operations—aligning growth with long-term resilience and value creation.
Reflecting our confidence in the company’s performance and our commitment to delivering shareholder value, the Board of Directors has proposed a dividend of EGP 1.5 per share for FY2025, subject to the General Assembly’s approval.