DIGICEL GROUP ANNOUNCES STRONG FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2010
Digicel, with cellular services in the Caribbean, Central America and the Pacific, continued to boost operations by announcing yet another strong set of financial results for the year ended 31 March 2010.
With subscribers up 15% to 10.8 million across all 32 markets – driven in particular by major growth in the Central American and Pacific markets – Digicel closed out the year with revenues of US$2.2 billion. This represents a 12% gain year on year and a compound annual growth rate of 24% from 2007 to 2010 when all Digicel markets are included.
In terms of Digicel Group Limited (which comprises 24 markets across the Caribbean and El Salvador), revenues were US$1.75 billion – up 1% year on year and 5% in constant currency terms – with EBITDA margin increasing to 43%, up from 39% the previous year.
In those 24 markets, Digicel achieved a significant 31% growth in data revenues year on year while the postpaid subscriber base grew by a considerable 18% year on year. Digicel also continued to lead the way across the region in the provision of BlackBerry services with BlackBerry user numbers going up by 138%.
Digicel Group CEO, Colm Delves, comments; “It’s been another great year for Digicel. Our promise and commitment to our customers to deliver best value, best service and best network is continuing to translate into sustained growth and strong performance resulting in us once again over delivering against all of our internal targets.
He continues; “I would like to thank our customers for their ongoing loyalty to Digicel and to assure them that our focus continues to be on ensuring that they benefit from being with the Bigger, Better Network. In addition, I would like to thank our fantastic staff for their continued great work, commitment and enthusiasm – they are the bedrock of our success.”
Key achievements in the year include:
- Digicel Group announced the acquisition of its sister company, Digicel Pacific Ltd in a deal worth US$825m. Digicel Pacific operates in six markets and had 1.7 million subscribers at the year end.
- Digicel raised a total of US$1.8 billion via the international bond markets – the proceeds of which were used to acquire Digicel Pacific Ltd, refinance existing debt and for general corporate purposes
- Acquisition of Orange Dominica Ltd – as a result, Digicel is delivering its best value services to a much larger customer base in Dominica
- Launch of first mobile service ever in Nauru – Digicel’s sixth market in the Pacific and 32nd worldwide
- Continued growth in Jamaica against the backdrop of increased competition with Digicel growing its subscriber base by 3% and underlying revenues by 2% year on year
In addition, as the largest mobile provider and largest private investor in Haiti, Digicel’s priority in the aftermath of the January 12th earthquake was to ensure customers could stay connected and to do whatever it could to help. In total, Digicel has donated over US$20 million to support the relief efforts in Haiti – as well as undertaking a number of humanitarian initiatives including food, temporary housing and aid distribution programmes to help Haiti to rebuild. Digicel Chairman, Denis O’Brien, was named Goodwill Ambassador to the City of Port-au-Prince by the Mayor of the city in recognition of his efforts.
In the coming year, Digicel customers can look forward to the impending launch of consumer WiMAX services across Jamaica and 3G+ launches in the French West Indies and Bermuda.