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Asiacell’s net profits decreased by 21%, to reach 265 billion dinars in 2022
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Economy News - Baghdad
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Added 05/10/2023 - 7:28 PM
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Economy News - Baghdad
Financial data showed that the net profits of Asiacell Telecom Company in Iraq decreased to just over a quarter of a trillion dinars in 2022.
The data seen by Al-Iqtisad News showed that net revenues increased by 1% in 2022 to reach 1.4 billion dinars due to the increase in the number of subscribers and the increase in the use of data and digital services, and the number of subscribers increased by 7% at the end of 2022 to reach 17.1 million subscribers.
As for the surplus in current operations, it witnessed a decrease by 21% to reach 310 billion dinars in 2022 due to the increase in operating expenses compared to net revenues, compared to an increase in operating expenses by 9% to reach 1.1 billion dinars due to the increase in fuel costs and marketing expenses.
The data showed a decrease in annual net profit by 21%, to reach 265 billion dinars in 2022, and a decrease in the return on equity from 24.7% in 2021 to 19.1 in 2022, in addition to a decrease in the return on average assets from 11% in 2021 to 10.9% in 2022.
On the other hand, Asiacell achieved in the past 12 months the third highest dividend yield of 11.8% among the companies listed on the Iraqi Stock Exchange.
Views 129
Added 05/10/2023 - 7:28 PM
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