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About Company:

Mobile Telecommunications Company K.S.C.P., doing business as Zain, is a Kuwaiti mobile telecommunications company founded in 1983 in Kuwait as MTC (Mobile Telecommunications Company), and later rebranded as Zain in 2007. Zain has a commercial presence in eight countries across the  Middle East with 50 million active customers as of 31 March 2019. The Vice Chairman and Group CEO is Bader Nasser Al–Kharafi, who was appointed in March 2017. Approximately 24.6% of the company is owned by Kuwait Investment Authority; 21.9% is owned by Omantel; only shareholders that own above 5% are disclosed.

Financial highlights

Zain is listed on the Kuwait Stock Exchange. There are no restrictions on Zain shares as the company’s capital is 100% free float and publicly traded. The largest shareholder is the Kuwait Investment Authority (24.6%).

For the full year of 2018, Zain Group generated consolidated revenues of KD 1.3 billion (USD 4.4 billion), an impressive 28% Y-o-Y growth, while consolidated EBITDA for the period increased by 25% Y-o-Y to reach KD 519 million (USD 1.7 billion), reflecting an EBITDA margin of 39%. Consolidated net income reached KD 197 million (USD 649 million), up 23% and reflecting Earnings Per Share of 45 Fils (USD 0.15).

For the first quarter of 2019, Zain Group generated consolidated revenues of KD 404 million (USD 1.33 billion), up 56% compared to the same period in 2018. EBITDA for the quarter reached KD 178 million (USD 586 million), up 111% Y-o-Y, reflecting an EBITDA margin of 44%. Net income for the quarter reached KD 47 million (USD 155 million), up 15% Y-o-Y reflecting Earnings Per Share of 11 Fils (USD 0.04).

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