Home  Corporate News DIGICEL GROUP ACHIEVES 11% REVENUE GROWTH TO US$1.73 BILLION FOR THE YEAR ENDED MARCH 31, 2009
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DIGICEL GROUP ACHIEVES 11% REVENUE GROWTH TO US$1.73 BILLION FOR THE YEAR ENDED MARCH 31, 2009 |
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Tuesday, 09 June 2009 |
• Records total customer numbers of 7.1 million across the Caribbean and El Salvador
• 34% subscriber growth across all 31 Digicel markets worldwide
KINGSTON, JAMAICA - Monday 8th June 2009 – Digicel, the largest telecommunications operator in the Caribbean and recent entrant to the Central American market, today announced that revenues for its fiscal year ended 31 March 2009 were $1.73bn, up 11% on the previous year. Subscribers rose 9% to 7.1 million.
Digicel’s full year EBITDA margin rose to 40%, indicating the maturing of its successful rollouts in markets including El Salvador and Trinidad & Tobago - and demonstrating Digicel’s track record of profitable expansion, combining strong revenue growth with tight control of costs.
These numbers relate to Digicel Group Limited which operates in 24 markets in the Caribbean and in El Salvador.
Successful launches in Central America
Recent launches in Honduras (November 2008) and Panama (December 2008) via its sister company, Digicel Holdings (Central America) Ltd., have achieved over 1.1 million subscribers in less than five months, bringing total subscribers across 26 markets in the Caribbean and Central America to 8.2 million.
Worldwide
Worldwide, Digicel operates in 31 markets across the Caribbean, Central America and the South Pacific. The subscriber base worldwide grew from 7.1 million to 9.2 million in total representing a growth rate of an impressive 34%.
Colm Delves, Digicel Group CEO, comments; “It’s been another great year for Digicel. We have again over delivered on our targets – and our brand is recognizable for providing best value, best service and the best network in 31 markets across the Caribbean, Central America and the South Pacific.
“Our focus continues to be on ensuring that our customers benefit from being with the Bigger, Better network and that - day in, day out – they can enjoy our innovative value offers and promotions, have access to the very best range of handsets available anywhere in the world and are supported by our award-winning customer service.”
Key achievements in the year include:
• Successful market launches in British Virgin Islands (November 2008), Honduras (November 2008) and Panama (December 2008) with Honduras and Panama gaining 1.1 million subscribers in less than 5 months.
• Achieving two million subscriber milestones in both Haiti and Jamaica. In the case of Haiti, this represents a market share of approximately 65% with mobile penetration in the country rocketing from 5% to over 30% largely due to the entrance of Digicel to the market. In Jamaica meanwhile, with its market share standing at approximately 75%, Digicel has continued to grow its customer base even in the face of increased competition.
• Digicel is pioneering green technology through a number of initiatives including the introduction of the world’s first solar-powered mobile handsets, the provision of solar-powered chargers, the use of alternative energy to power base stations and the use of degradable retail bags across all markets.
• Digicel raised US$350 million in a bond issue which provided funds to acquire a 38% stake in its sister company, Digicel Holdings (Central America) Ltd. This was the first corporate emerging market high yield offering successfully completed since July 2008 demonstrating investors’ continued faith in Digicel’s execution of its business plans.
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