With massive tariff discounts, ranging on average from 40% to 50%, Ethio telecom generated 36.3 Billion ETB revenue, which is 85% of the target showing 7% increment from the previous budget year, according to 2018/2019 EFY Business Performance Report.
In the budget year, EBITDA amount earned is 24.5 Billion ETB, which is 79% of the target and shows 5.6% increment from the previous budget year, reads the report.
Ethio telecom paid 16.2 Billion-birr tax, of which 4.7 Billion ETB being tax arrears. The tax amount paid shows 40% growth from the previous budget year. In this regard, the tax contribution of Ethio telecom accounts 18.8% of the total tax collected from the large tax payers in the country during this budget year which amounted to 85.9 Billion ETB.
In addition, the report showed that Ethio telecom has paid 7 Billion ETB in dividend, out of which the 1 Billion is a pre-payment.
The company scored a remarkable achievement in loan repayment, by paying 9.9 Billion ETB equivalent to 362 Million USD. The lion share from this payment is an amount of loan arrears accumulated for the last three years, said the report.
Ethio telecom total subscribers have reached 43.6 million which is 95 % of the target and an increase of 15% from the previous budget year. This figure results tele-density of 44.5%. Mobile voice subscribers are 41.92 Million, Data and Internet users 22.3 Million and Fixed Services 1.2 Million.