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French Version

Jordan Telecom preliminary consolidated

Jordan Telecom Group achieved 15% growth in its Net Income
Subscribers: In excess of 1 Million Subscribers

Towards the end of 2003, the Jordan Telecom Group's number of subscribers increased by 6% compared to 2002, thus reaching a total of 1,004 thousand (K) subscribers.

The main driver of this increment is the increase in the Mobile business unit (MobileCom) subscribers representing 70% of the total increase (39K out of 56K).


By the end of 2003 Jordan Telecom Group Revenues revealed a growth of 2% or JD 5.8 million, compared to the same period last year, thus reaching JD 309.3 million.

Jordan Telecom Group revenues consist mainly of the Fixed-Line (Jordan Telecom) revenues which represent 76% of group revenues, and the Mobile business unit (MobileCom) revenues which represent 23% of group revenues.

The growth is attributed mainly to Mobile business unit (MobileCom) as their revenues increased by 35 % due to:
- An increase of 12.3% in their customer base to reach 356 K customers by the end of 2003.
- An increase of 5% in Average Revenue Per User (ARPU).

Fixed-Line (Jordan Telecom) revenues faced a slight decrease of 5% by the end of 2003 compared to 2002.The performance of the fixed line industry in Jordan has been in line with international trends; especially with the boom in the mobile telephony market and the decline of international interconnection rates and international calls tariff.

Operating expenses (excluding depreciation and amortization)

By the end of 2003 Jordan Telecom Group's Operating Expenses decreased by 5% or JD 9.0 million, compared to 2002, thus reaching JD 182.1 million.

This decrease is mainly attributed to the decrease in Fixed-Line (Jordan Telecom) Operating Expenses by 9% as it continued in the cost cutting process for operation expenditures.

On the other hand, Mobile business unit (MobileCom) Operating Expenses increased by 10% compared to 2002 mainly due to higher cost of services generated from higher revenues.

Operating profit (EBITDA)

Earnings Before Interest, Tax, Depreciation & Amortization, for the group revealed a tremendous growth of 13% reaching JD 127.2 million compared to JD 112.4 million as reported at the end of 2002.

The JD 14.8 million higher EBITDA was the product of JD 5.8 million higher revenues and JD 9.0 million lower operating expenses for the reasons explained above.

There is 4% rise in the EBITDA margin to reach 41% at the end of 2003 compared to 37% at the end of 2002.

Net income

Consolidated Net income increased by 15% to reach JD 34.6 million by the end of 2003 compared to JD 30.1 million by the end of 2002. This increment was due to better performance of the Group.

Capital Expenditures

Consolidated Capital expenditures at the end 2003 (excluding Financial CAPEX) reached JD 23.8 million compared to JD 54.6 million in 2002 representing 56% decline. Nearly 50% of the total was invested in the Fixed-Line (Jordan Telecom) while the rest was invested in Mobile business unit (MobileCom).

Human Resources

Jordan Telecom Group number of employees decreased by 18% to reach 4,147 employees compared to 5,036 in 2002 basically due to the decrease in Fixed-Line (Jordan Telecom) workforce. The vast majority of departing employees in 2003, amounting to 850 employees, have joined JT's voluntary Early Retirement programs.

Net Accounts Receivable & Closing Cash Balance

By the end of 2003, Net Accounts Receivable decreased by JD 44.3 million or 45% compared to the end of 2002 balance to reach JD 54.5 million. This decrease is mainly due to the improvement in Fixed-Line (Jordan Telecom) billing and collection procedures. Accordingly, the cash balance increased by JD 93.7 million compared to the end of 2002 to reach JD 117.6 million.

Int@j Redaction

Some Marks
To see in Jordan
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Useful Addresses
Media of 1stjordan
Impact of 1stjordan
The 'First Jordan' Card
Press Book
Exotica - Flowers - Shopping on line
Engineering Consultants Lebanon
Nsouli Jewelry Lebanon
Hotel Beirut Lebanon
Rent Villas France for Holidays, Seasonal Rentals France
Sole Agent for Philips & Whirlpool in Lebanon
Arab Printing Press Lebanon
Hotel Beirut Lebanon
Arabic Music, CD Arabia
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Groupe PMR