Digicel Group Records 8% Revenue Growth
For the year ended March 31, 2013, Digicel Group — which operates in 30 markets throughout the Caribbean, Bermuda, El Salvador and the South Pacific – reported revenues of US$2.78 billion which represents an 8% year on year increase in revenues.
EBITDA [earnings before interest, tax, depreciation and amortisation] was up 11% year on year to US$1.2 billion for the full year with the most recent quarter contributing US$318 million.
With subscribers up 1% to 12.9 million across Digicel Group’s 30 markets worldwide, performance has been strong with revenue growth driven in particular by Haiti, Papua New Guinea, Trinidad & Tobago and Suriname. As Digicel continues to roll out 4G networks based on HSPA+ technology and to expand the range of smartphones it offers, data and value-added services revenues stood at 23% of service revenues – up from 20% for the prior year quarter.
Commenting on the company’s performance, Group CEO, Colm Delves, said: “We are very pleased with the continued growth we are seeing across our markets and with the customer response to the rollout of our 4G networks. We will continue to focus on growing our ICT/Business Solutions portfolio and on driving data usage across our customer base. I would like to take this opportunity to say thank you to our dedicated staff and loyal customers and to assure them of our continued commitment to best value, service and network and to growing our communities.
Key achievements in the period include:
- Launch of 4G services based on HSPA+ in the British Virgin Islands, Haiti, Jamaica and Trinidad & Tobago – and LTE in Antigua & Barbuda
- Completion of the integration of the Voila business and network in Haiti
- ICT/Business Solutions revenues increased by 94% for the year and now represent 3% of services revenues
- Issuance of a total of US$1.3 billion of Digicel Group Limited senior notes due 2021 at 6% with the proceeds being used to refinance existing notes and for general corporate purposes
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, 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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