SOURCE: Digicel


February 24, 2011 10:02 ET

Digicel Group Announces Third Quarter Results and Hits 11.5 Million Subscriber Mark

KINGSTON, JAMAICA--(Marketwire - February 24, 2011) - Digicel, the best value mobile operator in the Caribbean, Central America and the Pacific, today announced another impressive set of financial results for the quarter ended December 31st 2010.

With subscribers up 7% year on year to 11.5 million across Digicel's 32 markets worldwide, Digicel continues to perform well across the board. It has seen growth in all of its major markets including El Salvador, Haiti, Jamaica, Papua New Guinea and Trinidad and Tobago and data revenues have doubled year on year.

In terms of Digicel Group Limited -- which comprises the 30 markets of the Caribbean, El Salvador and the Pacific -- for the quarter ended 31st December 2010, revenues were up 32% year on year to US$580 million, EBITDA (earnings before interest, taxes, depreciation and amortisation) was up 32% year on year and reached a record high of over US$240 million.

Digicel Group CEO, Colm Delves, comments, "I am pleased to report that we have had another very strong quarter. Digicel has outperformed its industry peers with strong revenue growth and robust margins.

He continues; "We remain committed to ensuring our customers benefit from best value, service and network -- and in our ongoing efforts to give back to our communities. I would like to thank our valued customers and staff for making Digicel the success it is today."

Key achievements in the quarter include:

  • Launch of mobile money services in Haiti under the "Tcho Tcho" Mobile brand and award of the "first to market" grant of US$2.5 million from the Bill & Melinda Gates Foundation

  • Successful launch of 3G+ service in the French West Indies

  • Successful issuance of US$300 million of senior notes -- proceeds of which are to be used for general corporate purposes

  • Acquisition of two ICT businesses -- Netxar in the Caribbean and Datanets in Papua New Guinea -- to further expand Digicel ICT expertise and capabilities

  • Breaking ground on the new Digicel global headquarters in downtown Kingston, Jamaica

  • Digicel named "Best Operator in a Developing Market" at the World Communications Awards and Denis O'Brien winning the Jamaica Observer Business Leader Foreign Investor Award

  • Renovation of the central point of trade -- the Coronation Market -- in downtown Kingston, Jamaica

About Digicel

After nine and a half years of operation, Digicel Group Limited has 11.5 million customers across its 32 markets in the Caribbean, Central America and the Pacific. The company is renowned for delivering best value, best service and best network.

Digicel is the lead sponsor of Caribbean, Central American and Pacific sports teams, including the Special Olympics teams throughout these regions. Digicel sponsors the West Indies cricket team and is also the title sponsor of the Digicel Caribbean Cup. In the Pacific, Digicel is the proud sponsor of several national rugby teams and also sponsors the Vanuatu cricket team.

Digicel also runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Jamaica, Haiti and Papua New Guinea which focus on educational, cultural and social development programmes.

In 2004, Digicel developed Digicel Rising Stars -- an annual talent show to support aspiring young music artists in the Caribbean. The show has spanned the Eastern Caribbean, Haiti, Jamaica and Trinidad & Tobago ranking as one of the top-rated shows.

Digicel is incorporated in Bermuda and its markets comprise: Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, the British Virgin Islands, the Cayman Islands, Curacao, Dominica, El Salvador, Fiji, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Honduras, Jamaica, Martinique, Nauru, Panama, Papua New Guinea, Samoa, St Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Tonga, Trinidad & Tobago, Turks & Caicos and Vanuatu. Digicel also has coverage in St. Martin and St. Barts in the Caribbean.

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