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GIVING THE WORLD A VOICE ORASCOM TELECOM HOLDING

Third Quarter 2011

Orascom Telecom Holding YE – 2009

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GIVING THE WORLD A VOICE

CONTENT
Highlights Chairman‟s Comment CEO‟s Comment Operational Performance Main Financial Events Financial Review Financial Statements Operational Overview 3 4 5 6 10 13 19 24

Orascom Telecom Holding YE – 2009

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GIVING THE WORLD A VOICE

Orascom Telecom Holding Third Quarter 2011 Results Cairo, November 13th, 2011: Orascom Telecom Holding (OTH) (Ticker: ORTE.CA, ORTEq.L, ORAT EY, OTLD LI), announces its third quarter 2011 consolidated results demonstrating a 12% YoY subscriber growth, a 4% YoY revenue increase and a 21% YoY increase in EBITDA.

Highlights
 Total subscribers approached 109 million, an increase of 12% over the same period last year. Revenues reached US$ 1,010 million1, increasing by 3.5% over the same period last year as a result of a 9% growth in GSM revenues. EBITDA reached US$ 481 million1, an increase of 21% compared to the same period last year, demonstrating a solid performance across most of the GSM subsidiaries. Group EBITDA margin stood at 47.6%, an increase of 7 p.p. compared to 3Q 2010. EBITDA margins for the major subsidiaries were: Djezzy 59.1%, Mobilink 41%, banglalink 33.4%, and koryolink 80%. Net Income before minority interest for the quarter stood at US$ 10 million1 compared to US$ 934 million recorded during the same period last year. The decline is mainly attributable to the significant gain of US$ 822 million recognized on the ECMS Transaction in 3Q 10; in addition to the appreciation of the Egyptian Pound against the Canadian Dollar in 3Q 2011, which resulted in an unrealized FX loss attributable to the intercompany loan towards Wind Mobile in Canada. Net income attributable to equity holders for the third quarter of 2011 was a loss of US$ 975 thousand1. Net Debt2 as of September 30, 2011 stood at US$ 2,666 million1, a decrease of over 33% compared to 31 December 2010; with a Net Debt/EBITDA of 1.5x.

1. 2.

US$ financial figures in the Income Statement & Balance Sheet are according to the International Financial Reporting Standards (IFRS). Net Debt is calculated as a sum of Short Term Debt, Long Term Debt, less Cash and Cash Equivalents.

Orascom Telecom Holding 3Q – 2011

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telecommunications market.” services to its customers. Executive Chairman.” synergies and operational Orascom Telecom Media efficiencies. OTH remains committed to unlocking the value of its operations on all fronts to its shareholders. OTH held an Extraordinary General In light of the newly combined Meeting for its shareholders on October 23 rd. VimpelCom Ltd. as well optimization strategy. by benefitting from newly gained advantages in technology deployment and commercial development. OTH and shareholders. within our costand Technology.99% of attending shares approved beginning to resolutions regarding the “OTH remains committed to unlocking the leverage the size of the Group demerger into two value of its operations on all fronts to its in order to realize CAPEX separate entities. 2011. commented on the results: “Orascom Telecom has delivered another quarter of solid results and performance excellence across our operations. While the Company is rapidly gaining ground and expertise as a truly global player in the Orascom Telecom Holding 3Q – 2011 Page |4 . OTH will be in a position to as authorizing internal structure changes to secure further focus on providing innovative solutions and our shareholders‟ interests. we are successfully where 99.GIVING THE WORLD A VOICE Khaled Bichara. Consequently.

where higher revenues were coupled with cost optimization measures.5% and 21% respectively. Chief Executive Officer. Djezzy‟s growth in subscribers of 9% compared to 3Q 2010 has been carried over into its revenues and EBITDA. The Egyptian market is still experiencing minor disruptions. commented on the results: “For the third quarter of 2011. previous quarters.GIVING THE WORLD A VOICE Ahmed Abou Doma. increasing 6% and 4% North Korea has expanded its coverage to nearly respectively in local 94% of the population. Consolidated revenues and EBITDA grew by 3. the anticipated SIM tax reduction had led to cautious customer acquisition in banglalink for the previous quarter. Pakistan‟s Mobilink has shown an improvement in In Canada. but remains resilient and highly competitive. Despite the adverse market conditions. the limitations the Algerian unit has been faced Telecel Globe subscribers have increased 5% in the with.” in its customer base of management. a growth as a result of careful cost innovative services to its customers.” increased 10% in US$ terms. koryolink currency. now amounting to almost 109 million subscribers across our operations. In Algeria. Mobinil maintained a high share of net adds for the quarter. The ongoing ban on foreign currency last year. remaining stable in US$ terms and subscriber growth compared to 3Q 2010. Our total subscribers have risen by 12% compared to 3Q 2010. WIND Mobile displayed tremendous its ARPU. in the face of market-wide price cuts in transfers still weighs heavily upon the operation‟s Burundi following from the ongoing price war in network capacity and expansion needs. In 3Q 2011. Mobilink‟s EBITDA urban centers in Canada. In Bangladesh. the operator resumed an aggressive acquisition strategy targeting youth and rural segments. leading to a 22% increase in subscribers compared to last year. The increasing 2% in local currency terms compared to operator covers a population of over 12 million. while adding nearly 2 million subscribers and has recently expanded into two additional to its base over the past year. The EBITDA “Orascom Telecom has continued to has exceeded 800 thousand margin remained stable deliver growth in its operating markets and subscribers this quarter. 3Q 2010. Orascom Telecom Holding 3Q – 2011 Page |5 . which approximately 170% in was put in place in order to mitigate the effects of comparison to 3Q 2010. Orascom Telecom has continued to deliver profitable growth in its operating markets and innovative services to its customers.

as more cities are covered and more market segments are tapped.099 18. aided by strong net additions to the network. Alfa continued to grow its subscribers. koryolink subscribers grew by nearly 170% compared to 3Q 2010. Algeria demonstrated an impressive growth in its subscriber base increasing over 9% YoY. After excluding Tunisiana‟s subscribers in September 2010.445 Grand Total 1. 2 97. In Canada.000 317.993 30 June 2011 30.696 22. WIND Mobile subscribers increased 156% compared to 3Q 2010. In Lebanon.2% 156% 11.378.681 28.9% Subsidiary Djezzy (Algeria) Mobilink (Pakistan) banglalink (Bangladesh) Telecel Globe 1 koryolink (DPRK) Total Operations accounted for under the equity m ethod Mobinil (Egypt) Wind Canada (Canada) Total 30 Sept 2010 28. after excluding Powercom Ltd (Namibia) subscribers in September 2010.461 666. which became effective at the end of the previous quarter.139.709 12. In North Korea. and banglalink exceeded 22 million subscribers. Table 1: Total Subscribers 30 Sept 2010 14.199 67.401.919.163 30 June 2011 1.517 73.491 105.525.312 139.3% 5.000 30 Sept 2011 31.264 Inc/(dec) Sept 2011 vs. 2.953 2.288.000 Inc/(dec) Sept 2011 vs. subscriber base increased by over 22% YoY. reaching almost 109 million customers. Sept 2010 11. illustrating an increase of almost 22% compared to the same period last year. while growth was slightly offset by the mandatory SIM registration process in Zimbabwe.163 2.9% Inc/(dec) Sept 2011 vs. Sept 2010 21.000 30. Mobilink‟s subscriber base increased 6% YoY.160 20.553 33. led to the adoption of a more aggressive acquisition strategy in 3Q 2011.000 809.000. the subscriber base for 3Q 2010 has been adjusted to reflect the sale of Tunisiana and Powercom Ltd (Namibia). mostly attributable to further penetration of the rural segment in Burundi.335 30 June 2011 15. Sept 2010 9.825.539 2.576.288.934.230 30 Sept 2011 16. showing a wide acceptance rate of customers across various segments. The anticipated SIM tax reduction. For comparative purposes.3% 22.241 30 Sept 2011 1. Orascom Telecom Holding 3Q – 2011 Page |6 . In Egypt.843 301.858.252.415.615 33. despite the persisting challenges in the market.0% Including Zimbabwe. as well as a shortlived SIM shortage in CAR. Djezzy continued to manage churn through the continued enhancement of the “Imtyaz” loyalty program with a special focus on high value customers.107.2% 6.540.GIVING THE WORLD A VOICE Operational Performance Subscribers In the third quarter of 2011 Orascom Telecom succeeded in further growing its subscriber base by 12% in comparison to the closing base for 3Q 2010.686.031 31. as a result of its ongoing location-based promotions and reactivation promotions launched in the third quarter amidst rising competitive pressures.000 31.963.000 358. despite adverse market conditions.000 75.444. In Bangladesh.541.789. subscribers of Mobinil increased 11% YoY. Telecel Globe subscribers increased 5% compared to the same period last year.937.458.478.7% Managem ent Contracts Alfa (Lebanon) 30 Sept 2010 1.471 108.1% 169% 11.430.202. In Pakistan.253.

2 5.2%) Subsidiary Djezzy (Algeria) (DZD) Mobilink (Pakistan) (PKR) banglalink (Bangladesh) (BDT) 1.5 30 Sept 2011 (3 m onths) 714.0%) Djezzy (Algeria) Mobilink (Pakistan) banglalink (Bangladesh) koryolink (DPRK) Mobinil (Egypt) 2 Wind Canada (Canada) Alfa (Lebanon) Global ARPU (YTD) 3 Global ARPU (3 m onths) Table 3: Blended Average Revenue Per User (ARPU) (Local Currency) 30 Sept 2010 (3 m onths) 724.7 2.9 4.GIVING THE WORLD A VOICE ARPU In Algeria. 2.9 235.3 243. due to network capacity constraints and the new ARPT 15-day promotion limit imposed on all operators.8% 0. In CAD terms. In Canada.6 147.4 4. In Egypt. taking into account the weighted average subscribers for calculation.0 14.5 231.4 n.1 Inc/(dec) Sept 2011 vs.7 30 June 2011 US$ (3 m onths) 9. the strong subscriber growth trend led to ARPU dilution of 9% YoY.6 2.7 4.a. In Pakistan.3 4. Sept 2010 (1. led to the dilution in banglalink‟s ARPU.0% (17. in addition to the devaluation of the local currency against the US$. ARPU declined by 17% in US$ terms and 8% in local currency terms compared to the same period last year. Orascom Telecom Holding 3Q – 2011 Page |7 .5%) n.4 25. due to the appreciation of the local currency this quarter. However.7 1. Please see Appendix for definition. while declining 1.9 4. as a result of CAD devaluation against the US$. mostly due to competitive and challenging market conditions. Table 2: Blended Average Revenue Per User (ARPU)1 30 Sept 2010 US$ (3 m onths) 9.0 160.a. In Lebanon. Global ARPU is calculated on a year to date basis.3%) 2.0% (8. After excluding Tunisiana‟s subscribers in September 2010.3 15. the ARPU of Mobilink showed stability in US$ terms. 43.9 40.3% in local currency terms compared to the same period last year.3 Subsidiary Inc/(dec) Sept 2011 vs. ARPU expressed under OTH‟s definition may differ from Mobinil‟s disclosed ARPU.5 38. Sept 2010 2. while increasing 2% in local currency terms compared to 3Q 2010. 3. mainly due to increased traffic during the summer months. The decrease is mainly due to the full effect of Ramadan in the whole month of August 2011. the increase in subscribers compared to the same period last year led to ARPU dilution.4%) (6.9 2. In Bangladesh.6 28.5 30 Sept 2011 US$ (3 m onths) 9. Mobinil‟s ARPU illustrated a decrease of over 18% compared to the same period last year. the ARPU of WIND Mobile decreased compared to the previous quarter.7 4. ARPU increased slightly QoQ. In North Korea.1 152. ARPU showed recovery compared to the previous quarter. ARPU increased almost 3% in US$ terms.9 13. (8. The accelerated growth in 3Q 2011 and the penetration of rural and youth segments in the market.2 4.8%) (8.2 30 June 2011 (3 m onths) 711. as well as a less aggressive Ramadan promotion than the previous year. resulting from a value-driven increase in subscribers.9 2.6%) (18.4%) (8.4 4.8 2.

Telenor. 2.7% market share as measured internally on traffic patterns.GIVING THE WORLD A VOICE Market Share & Competition During the third quarter of 2011. due to competitive pressures.1% 30.p. Paktel. to 37. Citycell. Table 4: Market Share & Competition Country Algeria Pakistan 1 Bangladesh 1 Brand nam e Djezzy Mobilink banglalink Market Share (%) 30 June 30 Sept 2011 2011 58. banglalink witnessed an increase of 0. Orascom Telecom maintained its leadership positions in its core operations.p. early-life churn. Market share for September 2011 had not been disclosed by the Pakistani Regulator prior to this release.5 p. In Bangladesh.9 p. as a result of this quarter‟s aggressive acquisition strategy. Al Warid Grameen. BTTB.7% n. Aktel.7% 26. In Algeria. in addition to the mandatory SIM registration process required by the regulator.a 2 27. Mobilink maintained its first position in the market. The decrease is a result of the market-wide focus on MNP. while maintaining a strong leadership position in the market. as announced by the national Regulator is based on information disclosed by the other operators which use different subscriber recognition policies. with the exception of Bangladesh where banglalink enjoys a secure second position market share. despite a slight decline of 0. Airtel 1. market share dropped slightly by 0.3% 57.4 p.p compared to the previous quarter. Orascom Telecom Holding 3Q – 2011 Page |8 . In Pakistan. Qtel U-Fone. Market share.2% Market Position 1 1 2 Nam es of additional netw ork operations AMN.

“Other” CAPEX increased by 10% compared to the same period of the previous year. as well as the importing of equipment critical to network maintenance and necessary expansion. mainly due to the aggressive network rollout in line with the aggressive customer acquisition strategy. 2011 US$ (000) 19 152 91 121 383 12.9% Inc/(dec) (65%) 60% (41%) (4%) (11%) (2. Orascom Telecom Holding 3Q – 2011 Page |9 .2) Total Consolidated Consolidated Capex/Revenues 1. Djezzy‟s CAPEX decreased 50% compared to the same period last year. Intouch.1% 30 Sept. Mena-Cable. CAPEX increased by 67% YoY as Mobilink continues to focus on network and IT development. as a result of the ongoing ban on foreign currency transfers preventing the payment of essential suppliers.8% Inc/(dec) (50%) 67% 25% 10% 25% 2.9 30 Sept. 2011 increased by 25% compared to the same period last year in line with our investment for growth strategy. koryolink and our submarine cables. In Pakistan. Table 5: Capital Expenditure of OTH Subsidiaries Subsidiary Djezzy (Algeria) Mobilink (Pakistan) banglalink (Bangladesh) Other 1 3Q 2010 10 33 51 42 136 13. “Other” companies include CHEO. Ring and Telecel Globe.9% 3Q 2011 5 55 64 46 170 16. a 25% increase in the CAPEX of banglalink was recorded in comparison to the previous year. The increase is related to investments in Telecel Globe. 2010 US$ (000) 55 95 153 126 429 15. In Bangladesh. OT Holding. In Algeria.GIVING THE WORLD A VOICE CAPEX Total consolidated capital expenditures for the three months to September 30th.

E. and the new split ratio determined between OTH and OTMT based on their NAV contribution according to the “GAFI” recommended adjusted financials is 58% and 42% respectively. fully provisioning the withholding tax balance amounting to EGP9 million. 2011. the parent company of Orascom Telecom Holding S.E. as an interim measure until the completion of the demerger procedures. as well as other investments in the media and technology sectors. Orascom Telecom Ventures S. 2011. the approval of the planned demerger from OTH of Orascom Telecom Media and Technology Holding S.A.A. 2011. WIND TELECOM S. Over 97% of The Voting Shares that Participated in OTH’s OGM/EGM Approve Demerger. in connection with the “VimpelCom-WIND TELECOM” transaction.).A. WIND TELECOM announced that the shareholders of VimpelCom Ltd. Orascom Telecom Holding S.A. GAFI issued its report introducing certain adjustments to the demerger accounts that principally entail applying retroactively impairments recorded by OTH in its December 31. This additional step has created some delays in the implementation of the Demerger. The nominal value per share of OTH and OTMT shall be EGP0.E. 2.A.42 respectively. and Orascom Telecom Media and Technology Holding S. with an impact of EGP1. among others: 1. including undersea cable assets. (“OTMT”).E.E. On April 15th. as per the demerger plan and as contemplated by the Interim Control Agreement previously approved by the Extraordinary General Meeting of the Company held on April 14. 2010 pro-forma accounts thus increasing the impairment of OTH‟s investments in one of its subsidiaries.E.58 and EGP0. 2011. paving the way to implement the Company‟s refinancing plan and the demerger of the Company into two separate entities. paving the way to implement the Company‟s demerger into two separate entities.p. OTMT will hold certain assets of OTH that are not intended to form part of the VimpelCom-WIND TELECOM group going forward. the approval of a refinancing plan to refinance the Company‟s outstanding secured and high yield debt together with certain derivative transactions in an amount of approximately US$2. Orascom Telecom Holding S. (formerly Intouch Communication Services S. CHEO Technology Joint Venture company (“koryolink”) in North Korea. the Company informed its shareholders that the Egyptian authorities requested.7BN. The shareholders also approved authorizing the Chairman of the Company to change the internal ownership structure of OTH‟s stake in each of Mobinil and ECMS. 3. (“VimpelCom”) to combine the two groups creating the world‟s sixth largest mobile telecommunications carrier by subscribers. In September 2011. as part of their verifications and in the best interest of OTH‟s shareholders.A. On June 29th. by EGP356 million.. voted in their Special General Meeting in favor of the combination with WIND TELECOM. VimpelCom and WIND TELECOM announced the closing of the transaction that combines the two entities to create a new global telecom group.A. in order to preserve the continuation of the control of the Sawiris Family over such assets. (“OTH” or the “Company”) announced that the Company‟s shareholders overwhelmingly approved all of the items on the agenda of the Ordinary and Extraordinary General Assembly Meetings. 2010 financial statements. a company to be formed at the time of the demerger. including OTH‟s interests in Egyptian Company for Mobile Services (“ECMS”). Refinancing Plan and Internal Reorganization On April 14th. OTA . Shareholders approved the following significant resolutions.A (WIND TELECOM). Each OTH shareholder will still receive one OTMT share for each share of OTH held as of record date (subject to applicable legal restrictions). while the number of shares for OTH and OTMT remain the same. the Company‟s shareholders approved all of the items on the agenda at its EGM. (“OTH”) announced that it signed an agreement with VimpelCom Ltd. 2011.279 million on the September 30. On October 23rd. OTH and OTMT. As a result of these changes. an increase in OTH‟s authorized share capital to EGP 14BN (with the issued and paid-in capital remaining unchanged). that a committee reviews some underlying accounting documents that will serve as a basis for the Demerger. In March 2011. the basis of the split has been revised.GIVING THE WORLD A VOICE Main Financial Events VimpelCom combines with WIND TELECOM to create new global telecom group In October 2010.E. Orascom Telecom Holding 3Q – 2011 P a g e | 10 .

Khaled Bichara. according to the received guidelines. Weather Capital Special Purpose 1 (the majority shareholder of the Company) has also decided to recommend the election of the following board candidates to the General Assembly of the Company following the expiry of the term of the existing board members: Khaled Bichara. Mr. the validity of the license renewal is for 15 years.99% of the voting shares that participated or were duly represented in the Extraordinary Assembly Meeting.A. Khaled Bichara.90% of the Company‟s voting shares participated in the Extraordinary General Assembly Meeting.E.E. the company created through the combination of VimpelCom Ltd. The General Assembly took place on May 17. Mohamed Shaker.13 Orascom Telecom Holding 3Q – 2011 P a g e | 11 .. and WIND TELECOM S. who is nominated to the position of Executive Chairman (subject to board and general assembly approval and appointment) to ensure the smooth transition of the company within the newly formed VimpelCom merged entity. Ahmed Abou Doma. In addition. 2011 was successfully completed in June 2011 which resulted in the obligations of OTH under debt agreements with banks or financial institutions being fully refinanced by VimpelCom (USD 2. (“OTH” or the “Company”) announced that its fully owned subsidiary Telecel Globe (“Telecel”) finalized an agreement to sell Powercom (Pty) Limited (“Powercom”). will also be focused on executing VimpelCom synergy roadmap and achieving the targets for technology procurement and commercial development.GIVING THE WORLD A VOICE Shareholders representing 60.A. 2011.A. The resolutions were approved by 99. 2011. (“VimpelCom”). * Based on an exchange rate of: US$ 1 = BDT 75. Emad Farid. Orascom Telecom Holding S. while overlooking the company‟s continued implementation of its strategy. Telecel‟s subsidiary in Namibia. In his new capacity as President and Chief Operating Officer of VimpelCom Ltd. The Refinancing Plan entailed the purchase by VimpelCom in full of the interests of the creditors under the Senior Credit Facility. and the interest of the holder of the Equity Linked Notes followed by the redemption of the High Yield Notes and the termination and close out the hedging transactions. Orascom Telecom Announces Appointment of New Chief Executive Officer On May 16th. a key benefit resulting from the merger to OTH and its minority shareholders. Henk Van Dalen. Orascom Telecom Holding S. Ahmed Abou Doma to the position of Chief Executive Officer reporting to Mr.A. Alexander Shalaby. (“OTH”) announced that its Bangladeshi subsidiary Orascom Telecom Bangladesh (“OTB”) has received the final 2G license renewal guidelines.p. Successful Refinancing of OTH’s Capital Structure The Refinancing Plan disclosed to shareholders during the AGM dated April 14th. Orascom Telecom Holding Announces The Sale of Powercom (Pty) Limited Orascom On June 2nd. Aldo Mareuse.7bn). Orascom Telecom Holding S.8 Billion (equivalent to approximately US$ 263 Million*) over three years as spectrum and license renewal fees. The consideration for the sale consists of all liabilities of Powercom of around US$60 Million. to Investec and Nedbank. Jeffery McGhie and Ragy Soliman. Orascom Telecom Bangladesh Receives Its 2G License Renewal Guidelines In September 2011. (“OTH” or the “Company”) announced that the Board of Directors appointed Mr. According to the terms and conditions outlined by the Bangladesh Telecommunication Regulatory Commission (“BTRC”) within the received guidelines.E. 2011. OTB is to pay approximately BDT 19.

Orascom Telecom Holding 3Q – 2011 P a g e | 12 . Effective 17 October 2011.A. Aldo Mareuse who joined OTH as Group Chief Financial Officer in 2002.E. Orascom Telecom Holding S. Ahmed Abou Doma. Ellaicy succeeded Mr. (“OTH”) announced that the Company appointed Mr.GIVING THE WORLD A VOICE Orascom Telecom Announces Appointment of New Chief Financial Officer In October 2011. Khalid Ellaicy to the position of Chief Financial Officer reporting to Mr. Mr.

372 Represented 30 Sept 20101 US$ (000) 1.660 (69. As per IFRS rules.448 120.158 80.695 67.960. driven by the tremendous subscriber growth of koryolink.960 35.457 85.9%) 125.0%) 146. 9M 2010 figures are represented accordingly.845. OTH sold its entire shareholding in Orascom Tunisia Holding and Carthage Consortium through which OTH owned 50% of Orascom Telecom Tunisia (“OTT”).850 2.806.039 18.601 266.2010 (3 m onths) US$ (000) 444.595 77. The increase is mostly due to a combination of a growing customer base. as well as an improvement in pre-paid VAS and outgoing revenues for the quarter.437 195.470 6. In Pakistan. In North Korea.490 129. revenue growth for the quarter reached over 14% in local currency terms. in line with the recovery trend. 3.281 28.087 (83.4% (9.2% (23.5% 7.1% 39.0% 9. as a result of significant increases to banglalink‟s subscriber base.286 12.GIVING THE WORLD A VOICE Financial Review Revenues Total Consolidated Revenues for 3Q 2011 increased by 3.5% 115. revenues for the quarter increased 125% in comparison to 3Q 2010. in addition to the sale of Powercom Ltd in Namibia in 2Q 2011.010.024 1 In Bangladesh.402. Telecel Globe revenues decreased by 24% in 3Q 2011 compared to the same period last year.573. In Algeria. 2.976 29.822 41. as a result of its growing subscriber base and higher pre-paid VAS revenues.1%) 6.293. 4.302 9.6% 9. Orascom Telecom Holding 3Q – 2011 P a g e | 13 .8% (45.654 826. driven by a 9% growth in GSM revenues compared to the same period last year. while currency devaluation led to a 7% increase in US$ terms compared to the same period last year.341 2.710 120.5% 5.2%) 6.699 76. Mobilink‟s revenues for the third quarter of this year increased by over 5.340 41. revenues for 3Q 2011 increased by 6% in local currency terms.013 69.306 21.4% 2.671 281.1%) (57. Table 6: Consolidated Revenues YoY Represented 1 3Q . Due to the appreciation of the local currency against the US$.644 30.904 8.7% 14.642 37.2% (38. revenues grew almost 9.0% On 4 January 2011.123 975.499 1.5% compared to 3Q 2010. Mena Cable and TWA in 9M 2011.704 2.529 383.2011 (3 m onths) US$ (000) Inc/ (dec) 30 Sept 2011 US$ (000) Inc/ (dec) GSM Djezzy (Algeria) Mobilink (Pakistan) banglalink (Bangladesh) Telecel Globe (Africa) 2 koryolink (North Korea) Total GSM Telecom Services Ring Other 3 Total Telecom Services Internet Services4 Total Consolidated 1.495 960.5%) 4. Telecel Globe figures have not been represented in 9M 2010 and H1 2011to reflect the disposal of Powercom Ltd.940 102. Other Telecom Services Companies include OT Lebanon and TWA in 9M 2010 and OT Lebanon. 486.718 848.1%) 3. in 2Q 2011. as a result of the market-wide price reductions in Burundi. Internet Services‟ figures have not been represented in 9M 2010 to reflect the disposal of LINKdotNET and LINK Egypt in 3Q 2010.5% in comparison to 3Q 2010.2%) (57.905 32.645 2. As per IFRS rules. Subsidiary 3Q .3% 1.5% in US$ terms compared to the same period last year.575 28.445 878.204 334.

0 5.498 23.286 12.017 486.6% 3.4% 34. revenues dropped nearly 3.0% (1.001. Un-audited Figures.3 101.644 30.655 127.931 33. revenues increased 17% in comparison to 2Q 2011.447 956.4 70.2011 (3 m onths) US$ (000) 3Q .4% 5.499 1.2010 3Q .1% 9.2011 (3 m onths) US$ (000) Inc/ (dec) GSM Djezzy (Algeria) Mobilink (Pakistan) banglalink (Bangladesh) Telecel Globe (Africa) koryolink (North Korea) Total GSM Telecom Services Ring Other Total Telecom Services Internet Services Total Consolidated 477.490 129. in addition to network constraints and promotion limitations upon all networks imposed by the ARPT. In North Korea.9% 6. the revenues of banglalink increased 3% in local currency terms. Telecel Globe revenues declined by 11% compared to the previous quarter. as well as the seasonality of the month of Ramadan.302 1.5%) 1.642 37. which was partially offset by currency devaluation and lower ARPU.4 23.531 6. In Algeria. while GSM revenues illustrated similar stability in performance for the quarter.603 1.5% in US$ terms QoQ. Djezzy‟s revenues increased 3% QoQ in local currency terms.4 23.2011 (3 m onths) Inc/ (dec) 30 Sept 2010 30 Sept 2011 Inc/ (dec) 33.GIVING THE WORLD A VOICE Table 7: Consolidated Revenues QoQ Subsidiary 2Q .0% Orascom Telecom Holding 3Q – 2011 P a g e | 14 . with growth slowing due to the seasonality effect of Ramadan falling on the entire month of August.340 41.7% 0.6% 20.463 291.7% 10.495 960.4 35.9 28.4 3.9 9. due to the sale of Powercom Ltd in Namibia. 1 Subsidiary GSM Djezzy (Algeria) (DZD bn) Mobilink (Pakistan) (PKR bn) banglalink (Bangladesh) (BDT bn) 1. as a result of increasing subscriber base.0% 7.980 27.306 21.911 11.2011 (3 m onths) (3 m onths) In Bangladesh.955 35.9% (3.010.1% 0.671 281. Table 8: Proforma Consolidated Revenues (Local Currency) 3Q .4 24.4% (10.9%) 17.5 9.8 72.5% 14.6 5. In Pakistan.9% Total consolidated revenues for the third quarter of 2011 increased slightly compared to the previous quarter.4 24. Inc/ (dec) 2Q .9%) 3.087 11. mainly as a result of robust subscriber growth.0 8. mainly due to the increasing competitive pressures rising from 2Q 2011.0% 96.

300 142.659 17. OT Services Europe.536 43. IWCPL. Internet Services‟ figures have not been represented in 9M 2010 to reflect the disposal of LINKdotNET and LINK Egypt in 3Q 2010.144 (1. the EBITDA of banglalink increased 85% YoY.325) 1.416. As per IFRS rules. koryolink‟s EBITDA increased tremendously YoY. Orascom Telecom Holding 3Q – 2011 P a g e | 15 .565 7. In Algeria. (1.A. OTV.2% 82.009 33.625) 397.054 344.4% 9.2010 (3 m onths) US$ (000) 265.9% 6.9%) 35. TIL and TILSA.956) 17.393.2% 17.836 1.4%) 38.6% 85. as well as the application of the new interconnect scheme. OTI Malta.4%) n.858 61.592 Subsidiary 3Q .m.812 326. OT Finance. Cortex.5%) n.339) 1.3% GSM Djezzy (Algeria) Mobilink (Pakistan) banglalink (Bangladesh) Telecel Globe (Africa) 3 koryolink (North Korea) Total GSM Telecom Services Ring Other 4 Total Telecom Services Internet Services 5 OT Holding & Other 6 Total Consolidated (3.9% 740.m. In North Korea. while the currency appreciation against the US$ resulted in an 8% increase in US$ terms..380 2. OIIH.3% (22. 9M 2010 figures are represented accordingly.946 3. EBITDA excludes management fees which were previously treated as a cost in each subsidiary and as a revenue for the Holding.859 (32. banglalink‟s EBITDA increased almost by 100% compared to the same period last year. MedCable. 5. OT Wireless Europe. Oscar.433 23.202 7. The growth in EBITDA is mostly due to the combination of revenue growth. 2 YoY Represented 3Q .209 486.257 2. In local currency terms. as well as the sale of Powercom Ltd in Namibia. in line with growing subscriber and revenue figures. Other non operating companies include: OTH.364 Represented 30 Sept Inc/ 2010 (dec) US$ (000) 8. OT Asia. and OTWIMAX. Eurasia. Swyer. as a result of revenue growth and reduced SIM card costs.862 26.263) 6.645 5.550 105.2% 5. 3. OT Holding Canada.311) 6.GIVING THE WORLD A VOICE EBITDA Consolidated EBITDA for the third quarter of 2011 increased by 21% compared to the same period last year.182.m.918 n. 4.475 409. Telecel Globe figures have not been represented in 9M 2010 and H1 2011to reflect the disposal of Powercom Ltd.144 9.770 30 Sept 2011 US$ (000) 831.1% (515) 17. lower cost of sales and tight cost management actions .761 13. 17. 6. FPPL. with GSM EBITDA also displaying 19% growth YoY.207. Pioneers. Telecel Globe‟s EBITDA decreased 7% compared to 3Q 2010 due to lower revenues in Burundi. In Pakistan. Mobilink‟s EBITDA showed an increase of almost 10% as a result of applied cost efficiency measures and higher revenues.067 84. As per IFRS rules.914 16. Mena Cable.815 115.154 1. TWA. In line of OTH‟s strategy of discontinuing investments in non-core assets.1% (7.335 7. OTH sold its entire shareholding in Orascom Tunisia Holding and Carthage Consortium through which OTH owned 50% of Orascom Telecom Tunisia (“OTT”). in 2Q 2011.382 766 (12. Table 9: Consolidated EBITDA 1.T. OT ESOP. In Bangladesh. On 4 January 2011.648 (52. TMGL.018 Inc/ (dec) 12.2% 21.460 (18.850 96. 18. 2. OT Lebanon. EBITDA increased 4% in local currency terms.7% (77.3% 47.060) 480. the company is currently in the process of restructuring the handset business in Ring.340 7.0%) (70. Oratel.8%) (57.9% 1.2011 (3 m onths) US$ (000) 287. Other Telecom Services Companies include: C.059 (9. Moga.

3 29.0 9. In Algeria.2% (4. 14.2011 (3 m onths) US$ (000) Inc/ (dec) GSM Djezzy (Algeria) Mobilink (Pakistan) banglalink (Bangladesh) Telecel Globe (Africa) koryolink (North Korea) Total GSM Telecom Services Ring Other Total Telecom Services Internet Services OT Holding & Other Total Consolidated 282.3%) 0.9 6.3% 0. due to cost of sales management measures.0 3. EBITDA increased by 3% in local currency terms compared to 2Q 2011.009 33. due to cost optimization as a response to the ban on foreign currency transfer.0%) 30 Sept 2010 55.5 27. Orascom Telecom Holding 3Q – 2011 P a g e | 16 .9% Consolidated EBITDA of 3Q 2011 increased slightly compared to the previous quarter. Telecel Globe‟s EBITDA increased tremendously QoQ as a result of improved cost management efforts. the EBITDA of Mobilink declined by 2% QoQ.m.0 1.706 287.2 1 In Bangladesh.060) 480. the EBITDA of banglalink showed a decrease of 21% compared to the previous quarter as a result of higher acquisition costs resulting from an increase in gross adds.756) 6.494 (1.2011 (3 m onths) 20.7% (0.2% 54.8 30 Sept 2011 60.285 (11.409 1.9 10.382 766 (12.GIVING THE WORLD A VOICE Table 10: Consolidated EBITDA QoQ Subsidiary 2Q .1% 98.3% 11. Table 11: Proforma Consolidated EBITDA (Local Currency) Subsidiary GSM Djezzy (Algeria) (DZD bn) Mobilink (Pakistan) (PKR bn) banglalink (Bangladesh) (BDT bn) 3Q .065 485.2010 (3 m onths) 20.4 10. while remaining stable in local currency terms. Inc/ (dec) 4.9%) (20.202 7.645 5.7% 6. Un-audited Figures.m.4 Inc/ (dec) 8.8% (1. (40. with GSM EBITDA exhibiting stability QoQ.2% 2Q .3%) (19.815 115.536 43.774 29.2011 (3 m onths) 20.263) 6. advertising limitations.600 117.858 7.7%) n.2011 (3 m onths) US$ (000) 3Q .755 54.4%) (1.8% n.6 10.165 1.0 Inc/ (dec) 2. In North Korea. and preservation of available network capacity. In Pakistan.907) 476.511 1.209 486.0 4.6 3Q .4% 1.770 1. koryolink's EBITDA increased by 14% in line with revenue growth for the quarter.

2010 (3 m onths) US$ (000) 59.5% 46. the EBITDA margin of Mobilink showed slight improvement.9 p.p. compared to the same period last year as a result of significant decreases in subscriber acquisition and SIM tax costs.3) 19.3 (3. Orascom Telecom Holding 3Q – 2011 P a g e | 17 .9 39.2% 40.p. compared to 3Q 2010.5 1.4% 27.0 1.7% 47. as a result of healthy revenue growth and a strong EBITDA for the quarter. koryolink‟s EBITDA margin increased 39.9% 8. In Bangladesh. Telecel Globe figures have not been represented in 9M 2010 and H1 2011to reflect the disposal of Powercom Ltd. banglalink‟s EBITDA margin increased by 14.7% 39.p.0% 33.8) 6.4% 6.4% 32. In Pakistan.6% 29.8% 46.9 2.p.6 p.1 (5.8 3.7% 3Q .1 10. increasing by 1. Telecel Globe‟s EBITDA margin increased 5. GSM Djezzy (Algeria) Mobilink (Pakistan) banglalink (Bangladesh) Telecel Globe (Africa) 1 koryolink (North Korea) Total GSM Total Telecom Services Internet Services EBITDA Margin 2 (0.p.p. compared to the same period last year.6% representing an increase of 6.7% 82.3% 11.1% 8. in 2Q 2011.6% 50.GIVING THE WORLD A VOICE EBITDA MARGIN The Consolidated EBITDA margin for the third quarter of 2011 stood at 47.1 p. In North Korea.0 8. Represented 30 Sept 2010 US$ (000) 57.6) 1.7% 14. illustrating relative stability through cost management efforts aimed at countering the hurdles and limitations imposed upon the operation.0% 21.6% Change p.8% 80.4% 6.1% 47.6% 37.1% Change p.8% 12. As per IFRS rules.9% 62.0% 40.1 5.5 (2.p.0% 50.3% 18. As per IFRS rules.5 4. as result of significant revenue and EBITDA growth compared to the same period last year. Djezzy‟s margin decreased by 0. In Algeria.2011 (3 m onths) US$ (000) 59. mainly due to successful cost management. Internet Services‟ figures have not been represented in 9M 2010 to reflect the disposal of LINKdotNET and LINK Egypt in 3Q 2010. Table 12: Consolidated EBITDA Margin Subsidiary Represented 3Q .1% 41. 2.5% 41.5 p.5 14.5% 30 Sept 2011 US$ (000) 59. in comparison to 3Q 2010.6% 4.7) (3.5 p.5% 19.9 p.8) 5.9% 40.3% 39.p.

1680 (2.9653 0.3 (0. 2011 Sept.7419 72. 2011 % Chg Sept. Net Income Net Income before minority interest for the quarter stood at US$ 10 million compared to US$ 934 million recorded during the same period last year.6221 5.1685 4.0591 72.9736 0.3968 85. Local Currency.9146 5.8) 0.4 Canadian Dollar/USD Income Statement 1 Balance Sheet 2 0.3713 74.9693 5.1752 86. Represents the spot exchange rate at the end of the period.2 123- Represents the average monthly exchange rate from the start of the year until the end of the period. Orascom Telecom Holding 3Q – 2011 P a g e | 18 . 2011 vs Sept.1028 75.9658 5.9 Pakistan Rupee/USD Income Statement 1 Balance Sheet 2 85. Appreciation / (Depreciation) of USD vs.5542 74. The decline is mainly attributable to the significant gain of US$ 822 million recognized on the ECMS Transaction in 3Q 10.9778 1. which resulted in an unrealized FX loss attributable to the intercompany loan towards Wind Mobile in Canada.7500 70. 2010 June.1) Algerian Dinar/USD Income Statement Balance Sheet 2 1 74.6 0.9306 5.3333 85.1 8.8 Bangladeshi Taka/USD Income Statement 1 Balance Sheet 2 69.5171 74.9745 85.1 2.6 0.9767 0. 2010 3 Currency Sept.0 1.1000 72.7050 5.9801 0.0446 0.4 6. 2011 3 Egyptian Pound/USD Income Statement 1 Balance Sheet 2 5.2 1.6 1.8 7.1459 73.6) (0.GIVING THE WORLD A VOICE Foreign Exchange Rates Table 13: Foreign Exchange Rates used in the Income Statement & Balance Sheet % Chg Sept. 2011 vs June.8751 87.4806 0.4738 72.5 4. in addition to the appreciation of the Egyptian Pound against the Canadian Dollar in 3Q 2011. Net income attributable to equity holders for the third quarter of 2011 was a loss of US$ 975 thousand.8 1.3 0.

1.912 GDRs and 1.178 (69. 3Q 2011.m . 2010.182.214 (46.467 4 850.615) (2. Mainly due to the disposal of LINKdotNET and LINK Egypt in 3Q 2010.136.270 (535.558) (7.990 (152.931 (87.758) (60%) 131.130 GDRs for 3Q 2011.519) (5. Mainly due to appreciation of the Canadian Dollar which was offset by the appreciation of the US$ against the Egyptian Pound in 3Q 2010 vs.385 (18%) n.315) 89. Mainly due to the impairment of MedCable in Algeria. Equates to Net Income after Minority Interest.699) 58.238 0. n.633) (478.786) 5 63.660 22.006 (99%) 951.92 29.068) 12.810 (56.433 20% 609.536 694.2011 (3 m onths) US$ (000) 1.052 753.689.255 n.499) 480.2010 (3 m onths) US$ (000) Revenues Other Income Total Expense EBITDA 1 Depreciation & Amortization Impairment of Non Current Assets Gain (Loss) on Disposal of Non Current Assets Operating Incom e Financial Expense Financial Income Foreign Exchange Gain (Loss) Net Financing Cost Share of Profit (Loss) of Associates Impairment of Financial Recievables Profit Before Tax Income Tax Profit from Continuing Operations Gains or losses from discontinued operations Profit for the Period Attributable to: Equity Holders of the Parent 8 3Q .004.255 Inc/ (dec) Represented 30 Sept 2010 US$ (000) 2.GIVING THE WORLD A VOICE Table 14: Income Statement in IFRS/US$ Represented 3Q .495 844.890 Inc/ (dec) 975.661) 57.144 (185.328 0.504 (585.182 GDRs respectively.758 (444.794 (114.385 (18%) (22%) Earnings Per Share (US$/GDR) 9 Minority Interest Net Incom e 123456789- (99%) 951.660) (86%) (22.230 10.013 1.139) (15.665) (36.858 (202.057 784.960 25.108) 58.257 (975) (0.046.045.632) 21% 1.589.784) 26.72 31.667 (154.00) 11.444 GDRs.844) 145.013 (18%) Management Presentation developed from IFRS financials.449. 921.257 4% 4% (1.821) 2 26.989) 20.368) (395.619) 241.148) (42. Orascom Telecom Holding 3Q– 2011 P a g e | 19 .m .046.278.059 (556. Based on a weighted average for the outstanding number of GDRs of 1.948)6 (181.098) (82.993 3 230.152) 488 276.830) 397.845.393. 9M 2010 and 9M 2011 is 1.578 (88.964) (9. Mainly due to the refinancing of OTH‟s debt.233 (96.960.546 30 Sept 2011 US$ (000) 2. 3Q 2010 figures include the accounting treatment of Mobinil as a discontinued operation as a result of the amended and restated shareholders‟ and settlement agreements concluded with France Telecom which entered into force on July 13.146 (1.470 7.7627 934. 84% 40% 18% 939.849 784.087 6.962 0.790 24.523 (365.m .993) 974.94 (4.651.185) (120.010.890) 10.271 (112. Due to the disposal of Powercom Ltd (Namibia).980) 934. The weighted average for the outstanding number of GDRs for 3Q 2010.107) 20.918 (596.447) (1.454) 89.

421 9.180.622.816 3.008.859.123 3.163 3.797.104.662 1.474.801.454 811.180 464.294 1.639 2.313 9.394. Long Term Debt.213.187 6. Orascom Telecom Holding 3Q– 2011 P a g e | 20 .398 889.476 4.429.604 1.GIVING THE WORLD A VOICE Table 15: Balance Sheet in IFRS/US$ IFRS/US$ 31 Decem ber 2010 US$ (000) Assets Property and Equipment (net) Intangible Assets Investment in Associates Other Non-Current Assets Total Non-Current Assets Cash and Cash Equivalents Trade Receivables Assets Held for Sale Other Current Assets Total Current Assets Total Assets Equity Attributable to Equity Holders of the Company Minority Share Total Equity Liabilities Long Term Debt Other Non-Current Liabilities Total Non-Current Liabilities Short Term Debt Trade Payables Other Current Liabilities Total Current Liabilities Total Liabilities Total Liabilities & Shareholder’s Equity Net Debt 1 1- IFRS/US$ 30 Septem ber 2011 US$ (000) 3.315 3.744 2.740 7.912 2.696 295.085 258.443 1.726.511.205.796.152.807 2.678 2.476 2.980.447 354.315 3.354.796. less Cash and Cash Equivalents.054 Net Debt is calculated as a sum of Short Term Debt.117 1.000 111.384.682 2.179.524 74.090.820 422.174.672 973.605 1.367 9.692 750.486.055 824.058 426.359 1.688 1.349.682 3.376 1.932 1.812 6.596.763.965.998.780.641 7.178.225 4.980.666.029.750 9.

235 (1.142 (46. 9M 2010 figures are represented accordingly.755 792.450 (495.651 90.001 1.969 (52.964 (41.001 339.664 120 286.164.993) 598.483 (10.454 478.696 On 4 January 2011. Subsidiaries and Financial Assets Advances & Loans made to Associates & other parties Dividends & Interest Received Net Cash Used in Investing Activities Cash Flow s from Financing Activities Proceeds from loans.040) 790.797 (22.277) 132.093 (261.660 395. Intangible Assets.892) 15. Orascom Telecom Holding 3Q– 2011 P a g e | 21 .456) (4.595) 759.144. OTH sold its entire shareholding in Orascom Tunisia Holding and Carthage Consortium through which OTH owned 50% of Orascom Telecom Tunisia (“OTT”). banks' facilities and bonds Net Payments from financial liabilities Net Change in Cash Collateral Payments for Treasury Shares Capital injection Change in non-controlling interest Net Cash generated by Financing Activities Discontinued operations Net cash generated by operating activities Net cash (used in) generated by investing activities Net cash (used in) generated by financing activities Net cash generated from discontinued operations Net Increase in Cash & Cash Equivalents Cash included in Assets Held for Sale Effect of Exchange Rate Changes on Cash & Cash Equivalents Cash & Cash Equivalents at the Beginning of the Period Cash & Cash Equivalents at the End of the Period 1- US$ (000) 89.760) 205. Septem ber 30.319) 15.805 (470.014) 768.GIVING THE WORLD A VOICE Table 16: Cash Flow Statement in IFRS/US$1 Represented IFRS/US$ 1 IFRS/US$ Septem ber 30.199) (9.465.917 (1.859 1. and Financial Assets & Consolidated Subsidiaries Proceeds from Disposal of Property & Equipment.085 1. banks' facilities and bonds Payments for loans.199) (7.209 117.106 (316.410) (248.749) 330.164.152. Amortization & Impairment of Non-Current Assets Income Tax Expense Net Financial Charges Share of Loss (Profit) of Associates Accounted for Using the Equity Method Other Changes in Assets Carried as Working Capital Changes in Other Liabilities Carried as Working Capital Income Tax Paid Interest Expense Paid Net Cash Generated by Operating Activities Cash Flow s from Investing Activities Cash Outflow for Investments in Property & Equipment.809) (370.511 (126.866 332.544 (153.185 120.146) (1.060) (184.872) 824.320) (250.270 (817.825) (480.536 601.758 25.443) (10.103) 86.098 82.627 152.969 154.658) (212.604) 97.678 (608.962) 49.566) 141.527) 206. 2010 2011 US$ (000) Cash Flow s from Operating Activities Profit for the Period Depreciation.

022.680.36 191.043 (3.982.m .637 (400.636) 8.164 (529.207 1.725.245 1.500.000.138.992.754 146% Management Presentation developed from EAS financials.37 31.648 for 3Q11.209.426 0.028) (503.694 (491.344 1.407) (155.606) 2.563.910.959) 120.578 4.115 (2.2010 (3 m onths) LE (000) Revenues Other Income Total Expense EBITDA 1 Depreciation & Amortization Other Operating Incom e Financial Expense Financial Income Foreign Exchange Gain (Loss) Net Financing Cost Share of Profit (Loss) of Associates Impairment of Financial Recievables Profit Before Tax Income Tax Profit from Continuing Operations Gains or losses from discontinued operations 803.864 37.466 0.702) 118.987 (1.627.824.006) 24% 3.661) 2.359) (1.648 130.297.430) (57.90 184.316 0.313 Profit for the Period Attributable to: Equity Holders of the Parent Earnings Per Share (EGP/Share)2 Minority Interest Net Incom e 12- 1. 5. The weighted average for the outstanding number of ordinary shares for 3Q10.994.021.014) 93.230.951.633 26.518) 1.856 134.206.GIVING THE WORLD A VOICE Table 17: Income Statement in EAS/Egyptian Pounds Represented 3Q .313 4.417) (93.994.942 (1.388 5.220.291 (3.228.238.747 (3.607.225) (155) 372.991) (466.046) 8% 10% 23% 45% (54%) 764.484.801) 110% (81%) (104.611 (835.077.605.209. 4.231.495) 325.441.605 43.016 (571.803.943) 1.099.655.302 143.371) 2.035 (2.276) 482.112) Inc/ (dec) Represented 30 Sept 2010 (3 m onths) LE (000) 16.521 (321.527 (9.632) 25% 6.122.621 (9.449 (3.367 (95%) 1.363 4 30 Sept 2011 (3 m onths) LE (000) 17. Orascom Telecom Holding 3Q– 2011 P a g e | 22 .559.257.910 respectively.248.050 (649.044.810 n.123 162% 152% (95%) 1.534.357.633 93.911 (668. 9M 2010 and 9M 2011 is 5.190) (2.390.810 0.910.01 67.249.377 (279.912 (869.180) 375.051 93. Based on a weighted average for the outstanding number of ordinary shares of 5.488.058.123 146% 1.250) (92.288 4.864) (2.132) Inc/ (dec) 3Q .281) 106.2011 (3 m onths) LE (000) 6.210) 316.367 (99%) (99%) 1.754 4.835) (8.820.360 771.982.560 and 5.

579 4.342.GIVING THE WORLD A VOICE Table 18: Balance Sheet in EAS/Egyptian Pounds1 EAS/LE 31 Decem ber 2010 LE (000) Assets Property and Equipment (net) Intangible Assets Other Non-Current Assets Total Non-Current Assets Cash and Cash Equivalents Trade Receivables Assets Held for Sale Other Current Assets Total Current Assets Total Assets Equity Attributable to Equity Holders of the Company Minority Share Total Equity Liabilities Long Term Debt Other Non-Current Liabilities Total Non-Current Liabilities Short Term Debt Trade Payables Other Current Liabilities Total Current Liabilities Total Liabilities Total Liabilities & Shareholder’s Equity Net Debt 2 22.854 1.131 2.298 54.488 7. Long Term Debt.330 20.067.080 21.581 12.706.775 4.705.248 8.749 458.946 12.912 8.753 4. Orascom Telecom Holding 3Q– 2011 P a g e | 23 .642 6.558.430.624 2.584.198.804 1.761.367 53.873.797.710.029.070 8.616 53.332.947.653.920.072.816 15.360 1.968 6.435 14.325 16.894 2.593.639.940 15. Net Debt is calculated as a sum of Short Term Debt.672 37.569 24.710.314.502.489 18.370 EAS/LE 30 Septem ber 2011 LE (000) 12- Management presentation developed from EAS financials. less Cash and Cash Equivalents.169 8.940 17.735.881 679.570 54.946 23.903.269.784.170.152.597 38.480.050.762.478.148.567 6.450 17.423 5.903.653.050.853.193 41.763 22.876.805.311.631.246.269 19.676 36.722 8.

Under 15 years3: 42% Mobile Penetration: 58% BURUNDI Population: 10. Mobile Penetration is based on September 30. Under 15 years: 33% Mobile Penetration: 93% ALGERIA Population: 35 million GDP Growth: 3.5 million GDP Growth: -0. 2011 subscriber figures & market share *excluding Canada and Lebanon Orascom Telecom Holding 3Q– 2011 P a g e | 24 .3% Pop.1% GDP/Capita PPP ($): 39. Under 15 years: 35% Mobile Penetration: 58% CENTRAL AFRICA REPUBLIC Population: 4.2 million GDP Growth: 3. Under 15 years3: 41% Mobile Penetration: 18% NORTH KOREA Population: 24. Under 15 years: 16% Mobile Penetration: 70% EGYPT Population: 82million GDP Growth: 5.500 Pop.700 Pop.9 million GDP Growth: 3.400 Pop.GIVING THE WORLD A VOICE Presence in Countries with Favourable Dynamics: Operations owned by Orascom Telecom (OTH has 65% indirect equity ownership in Globalive Canada but a minority voting stake) OTH serves a population of 515 million* with an average penetration of 48% CANADA Population: 34 million GDP Growth: 3.9% Pop. Under 15 years: 22% Mobile Penetration: 3% ZIMBABWE Population: 12 million GDP Growth: 9% Pop. Under 15 years: 46% Mobile Penetration: 23% Population Figures from CIA Factbook (est.9% GDP/Capita (PPP) ($): 1.1% GDP/Capita PPP ($): 6. Under 15 years: 34% Mobile Penetration: 53% PAKISTAN Population: 187 million GDP Growth: 4.8% GDP/Capita PPP ($): 2. Under 15 years: 24% Mobile Penetration: 81% BANGLADESH Population: 159 million GDP Growth: 6% GDP/Capita PPP ($): 1. July 2011).200 Pop.3% GDP/Capita PPP ($): 7.800 Pop.300 Pop.

601 33.5% (0.4% 4. Despite the challenges described above which are having an increasingly prejudicial effect as time goes by. OTA continued to sell its mobile P a g e | 25 Orascom Telecom Holding 3Q– 2011 . controlling the largest distribution across all 48 Wilayas and operating the largest network with 7.8% (1.2010 (3 m onths) Financial Data Revenues (US$ 000) Revenues (DZD bn) 444. instructing the banks not to process any overseas foreign currency transfers by OTA.6) p. In addition.553 16. as well as on the internet. maintaining its leadership position with a 57.3%) EBITDA Margin Capex (US$ m) 59. Other VAS services specific to the period were “SMS boukala” and “SMS joke”.p.550 20.9 711 9.3% 296 5.9% 58. During Ramadan OTA advertised on both the national public TV.41 486.p.3 million subscribers.1% 57.9 715 2. Finally.p. A large buzz was created around the offering of two multimedia handsets at the lowest price in the market (handsets were sold with no subsidy and low price was achieved as a result of the volume purchased).552 BTS by the end of the quarter.GIVING THE WORLD A VOICE Operational Overview Djezzy – Algeria Financial Data 3Q .2011 (3 m onths) Inc/ (dec) Operational Data Subscribers 14. As in previous years. regional TV such as Nessma.671 35.2% 286 5. The VAS activity distinguished itself on the marketplace through the launch of “Scoop Dine”. The three TV campaigns and sponsorship programs on national public TV had a very positive impact. capacity and expansion.000 people in Algiers featuring well-known artists.90 8.7% (0. (50%) 287 7.7% 10 59. On the sales side. the “50% Bonus” for the entire Allo customer base.8) p. OTA launched several attractive promotions during Ramadan targeting the key customer segments.6 725 9. OTA started to advertise on national public TV at the end of July with a TV spot titled “Life is calling you”. it is also prejudicing international roaming agreements and jeopardizing the possibility of launching any new products which would ultimately require new technological platforms. OTA succeeded in managing a very challenging third quarter of 2011 in the face of extreme adverse conditions. the content service platform of OTA with specific religious content for the month of Ramadan.7% market share. Orascom Telecom Algerie (OTA) continued to face various challenges including the Bank of Algeria‟s unfounded decision issued in 2Q 2010.39 9.03 287. 1 Sept 201 0 EBITDA (US$ 000) EBITDA (DZD bn) 265.5% 5. is having adverse effects on OTA‟s network and reputation: It is preventing the importation of goods which are necessary for maintenance purposes and for network capacity expansion. During the third quarter of 2011.919. Despite these major obstacles OTA is seeking to serve its customers with the best possible network quality.1% 5 (0.288. 3Q . This factor continues to exert significant pressure on the network especially in terms of quality.031 15.815 20. press radio and outdoors and through continuously changing its media mix to ensure awareness about new launches and maintaining the emotional bond with OTA‟s customer base.2%) (1. A new permanent offer was launched offering competitive roaming tariffs (through an agreement with Zain) to pilgrims going to Mecca. These promotions included the “Liberty Ramadan du shour au ftour“ for all of Djezzy carte customer base.615 9. closing with 16.3% 9.9% Market Share ARPU (US$) (3 months) ARPU (DZD) (3 months) MOU (3 months) Churn (3 months) 57.2) p.2% Operational Data Sept 2010 June 2011 Sept 2011 Inc/(dec) Sept 201 vs. and a generous Ramadan option of additional DZD 400 when consuming DZD 400 for the post-paid customers.963. several events for VIP customers and partners were organized all over Algeria including a Ramadan tent for 2.

the import of essential equipment. Capex dropped from US$ 10 million in 3Q 2010 to US$5 million in 3Q 2011. By carefully monitoring the value of customers being acquired and not launching value destroying promotions. Orascom Telecom Holding 3Q– 2011 P a g e | 26 .3% in 3Q 2010 to 5. Churn rate for 3 months dropped at historically low levels from 7. The inability to carry out those maintenance and expansion works and to secure essential goods and services for the network represent a key source of high operational uncertainty for the months to come. OTA‟s revenue evolution along first half of 2011 followed a parallel trend to the actions undertaken by OTA to mitigate operational handicaps.6 p.5% in 3Q 2011. The EBITDA value for 3Q 2011 stood at US$ 288 million with an EBITDA margin of 59. in line with the recovery trend seen in previous quarters. Despite the extremely challenging conditions described above. the overall customer base increased by 9% to reach 16. OTA also continued to control churn through the continued enhancement of the “Imtyaz” loyalty program with a special focus on high value customers.3 million customers by the end of September 2011. and the undertaking of critical network maintenance. The nine exclusive national distributors cover all the 48 Wilayas and are distributing OTA‟s products through 19.000 authorized points of sales (“POS”).500 in 3Q 2011 (through authorized POS) in order to increase post-paid gross adds. mostly due to the wrongful ban on overseas foreign currency transfers by OTA which is preventing the payment of essential suppliers and creditors. OTA's ARPU saw a very slight increase in 3Q 2011 compared to 2Q 2011 (it went up from DZD 711 to DZD 715) and staying slightly below a year ago.GIVING THE WORLD A VOICE telecommunication services through indirect channels (distributors) and through the 87 owned “Djezzy” branded shops. During 3Q 2011 OTA continued to focus on expanding the network of POS. Revenues for 3Q 2011 showed a positive increase of nearly 10% over the same period of 2010. OTA managed to maintain its leadership position in terms of market share of gross adds remaining stable from 28% in 3Q 2010 to 35% in 3Q 2011. selling post-paid from 87 (owned shops) in 1Q 2011 to over 2.p. The EBITDA value increased by 8% and EBITDA margin decrease by 0.1%. compared to 2010. from US$445 million to US$ 487 million.

1 Sept 201 0 EBITDA (US$ 000) EBITDA (PKR bn) 105.099 33.p.45 5. along with the standard Ramadan specific value added services enabled Mobilink to engage its subscribers in such an important month.415. competition remained very intense in the cellular market.0% EBITDA Margin Capex (US$ m) 39. The App Store includes thousands of paid and free applications and games for Java.3% 213 7.490 24. Being the market leader.433 9. the closing subscriber base at the end of September 2011 stood at 33.5 million homes in Sindh and Baluchistan provinces. Moreover. Aggressive offers were launched for international calls to the United Kingdom and Canada. Symbian and Android operating systems. In order to preserve its leadership as well as maintain the high level of subscriber engagement. Mobilink maintained its focus on international calling offers throughout 3Q 2011.5% 33 41. * Market share.1% 2. Mobilink launched aggressive voice and SMS offers in the month of Ramadan.8% 2.0% 2. These new devices were coupled with three months of free mobile internet service.5 p. The southern region of the country was again hit by heavy floods.3% (0.5% compared to the same period last year. Orascom Telecom Holding 3Q – 2011 P a g e | 27 . Moreover. Revenues for the same period last year were US$ 267 million.536 10.6% 30. which according to the estimates of the National Disaster Management Authority affected more than 9.a n.696 6. Mobilink posted revenues of US$ 281 million for the third quarter of 2011. All operators continued to strive for acquiring market share through launching aggressive offers that aimed to attract new subscribers to their networks as well as increase the engagement of their existing subscriber bases.3% Operational Data Sept 2010 June 2011 Sept 2011 Inc/(dec) Sept 201 vs.444. registering a 6% growth.378.2011 (3 m onths) Inc/ (dec) Operational Data Subscribers 31.710 22.4 million as compared to 31. The third quarter of 2011 remained healthy for Value Added Services primarily due to the continued growth in Data Revenues. A lucky draw promotion was also launched on the occasion of Eid with the objective of encouraging subscribers to keep their Mobilink SIMs active.p.5) p.5% 6.5 million people and damaged approximately 1. the latest smart phones were exclusively introduced in Pakistan from Mobilink‟s platform. allowing customers to have the complete internet experience on the go.7 231 2.1% 197 8. Pakistan‟s economic situation remained tough during the third quarter of 2011 while power shortages continued to pose a major challenge throughout the country.GIVING THE WORLD A VOICE Mobilink – Pakistan Financial Data 3Q .00 9.7% n.160 33.0% 55 1. translating into YoY growth of almost 6%.5% Market Share* ARPU (US$) (3 months) ARPU (PKR) (3 months) MOU (3 months) Churn (3 months) 32.95 281.7 236 0.a. as announced by the Pakistani Regulator is based on information disclosed by the other operators which use different subscriber recognition policies.8 243 2. All the while. On the IDD front. In terms of local currency.00 115.4 million at the end of September 2010. an international roaming campaign was launched offering subscribers travelling to Saudi Arabia during the month of Ramadan a discount. Such offers. 67% 192 9. Mobilink launched Pakistan‟s first Mobile App Store called Jazz Bananas. 3Q . revenues increased by 6. Keeping on track with latest gadgetry innovations.6% 11.2010 (3 m onths) Financial Data Revenues (US$ 000) Revenues (PKR bn) 266.

increasing by 25% compared to the same period last year.2% 14. 25% 227 5.3% 27.4 3Q . banglalink started a pilot operation of International Call Center and Mobile Advertisements.2011 (3 m onths) Inc/ (dec) Operational Data Subscribers Sept 2010 June 2011 Sept 2011 Inc/(dec) Sept 201 vs. In 3Q 2011 banglalink launched new services like „know your star‟ and „Web to SMS chat‟.306 9.340 1. banglalink‟s revenues for 3Q 2011 grew to US$129 million. one of which is banglalink.2% ARPU (US$) (3 months) ARPU (BDT) (3 months) MOU (3 months) Churn (3 months) 2. banglalink achieved an EBITDA of US$ 43 million for the third quarter of this year representing an 85% increase compared to 3Q 2010.202.GIVING THE WORLD A VOICE banglalink – Bangladesh Financial Data Operational Data 3Q .163 20. BPO has also been nominated for The UN‟s World Summit Award (WSA) for the same service which is another prestigious global award.3% 129.6 43. the Government. AIS (Agriculture Information Services – a government body under the Ministry of Agriculture of Bangladesh) got the nomination for mBillionth award for the „Mobile based Agriculture Information Service‟ where banglalink is the partner of the project. * Market share. banglalink started aggressive acquisition from the end of 2Q 2011. As a result. as announced by the Regulator in Bangladesh is based on information disclosed by the other operators which use different subscriber recognition policies. EBITDA (US$ 000) EBITDA (BDT bn) 23.539 22.p.3 160 2. banglalink continued to launch attractive services and offers to the market. an increase of 7% YoY.1% 214 4. but required to be launched through a bank upon their approval. subscription based tariff.2% (0.p.4% 51 33. In 3Q 2011.1 p.p.6 7. loyalty programs. BPO (Bangladesh Post Office) has won the mBillionth award in the same category this year for their EMTS service whereby banglalink is the network partner. Moreover.0 153 1.2%) EBITDA Margin Capex (US$ m) 19.2% (5.107.4% Market Share* 27. banglalink crossed the 20 million subscriber mark in January of this year and ended 3Q at a 22. reactivation promotion offering bonus on recharge and attractive tariff. the market share at the end of 3Q 2011 increased to 27. 1 Sept 201 0 18.4%) (8.8% 26. The service has won the National Digital Innovation Award 2011.2% 211 5. as part of its vision of Digital Bangladesh by 2021. the central bank of the country. The company maintained a selective acquisition strategy from February until June in anticipation of SIM tax reduction.2%.2010 (3 m onths) Financial Data Revenues (US$ 000) Revenues (BDT bn) 120. Capex at the end of the third quarter of 2011 stood at US$ 64 million. The EBITDA margin 14.1 million base.7%) (1) p.p. has taken up aggressive data Orascom Telecom Holding 3Q – 2011 P a g e | 28 .575 8. The Government reduced SIM tax by Tk.9 147 (17.1 p. banglalink has launched a new post-paid package named „inspire‟. has published the guideline for mobile financial services and approved all types of mobile based financial services. The government of Bangladesh has finalized the 2G license renewal guideline for 4 major operators in November 2011.139.202 3. bonus on usage. daily fee based attractive tariff as well as limited tariff adjustment in some packages.953 22.6) p. banglalink is maintaining the leadership position in VAS services in terms of diversity.4% 64 14.1% 98. a 22% increase from the same period last year. banglalink Mobile Cash (banglalink m-Wallet) service won the m-Billionth South Asia Award 2011 in the category m-Business and Commerce/Banking. YoY. Bangladesh Bank.2 85. 194 in the national budget declared in June 2011.

Orascom Telecom Holding 3Q – 2011 P a g e | 29 . MNOs were barred from winning a license for ITC. The regulator also decided that all of five PSTN operators who were forced to shut down will get back their licenses.500 km fiber cable and additional international bandwidth of 145 Gbps. IIG. The government has also issued 6 licenses for International Terrestrial Cables (ITCs) to local entities. ICX and satellite licenses in 2011. BTRC has formulated guidelines to issue more IGW. submarine cable. two of which have already retrieved their licenses.GIVING THE WORLD A VOICE infrastructure projects of 1.

Compared to the closing base in 3Q 2010. 1 Sept 201 0 301.000 subscribers by the closing of 3Q 2011. In January. koryolink reduced the video call minute rate and the MMS price. WAP and HSPA. voice mail. koryolink has focused on providing its subscribers with new and innovative services. Since the beginning of the year. In February. Orascom Telecom Holding 3Q – 2011 P a g e | 30 .2 14.0% 17 n.495 125% Market Share ARPU (US$)* (3 months) 7.517 100.000 100. has quadrupled its usage in June 2011 after koryolink managed to avail it to the entire subscriber base. In September. The network supports a variety of services – in addition to voice – such as video call.p. Such reduction in price will enable koryolink to reach a larger portion of the subscriber base. koryolink has taken an additional step towards becoming more reachable for its current and new customers. the “Euro Packs” were launched in order to boost the revenue received in Euros.9 (8.2011 (3 m onths) Inc/ (dec) Operational Data Subscribers Sept 2010 June 2011 Sept 2011 Inc/(dec) Sept 201 vs. 89% 15. together with the 18 shops previously available inside the capital and the 9 shops covering the main cities. The network covers 14% of the territory and 94% of the population of the DPRK. koryolink secured a sponsorship agreement with the International Taekwon-Do Federation (ITF) through which it became the platinum and exclusive sponsor of the event. In recognition of the importance of such a worldwide event. such growth represents an increase of approximately170%. The network coverage also extends to more than 22 roads and highways. koryolink‟s network consisted of 453 on air base stations covering the capital Pyongyang as well as 14 main cities and 86 smaller cities.GIVING THE WORLD A VOICE koryolink – Democratic People's Republic of Korea Financial Data Operational Data 3Q . The Video Call service. Through these shops. and on the occasion of celebrating one year since launching the video call service. koryolink successfully launched the Balance Transfer service enabling its subscribers to transfer balance easily and reliably.2%) * Based on the official exchange rate between the US$ and the North Korean Won (KPW) of KPW 135 as sourced by Bloomberg.5 p. koryolink. These are basically bundles that offer free voice & VAS during the off-peak period in return for different Euro denominations.7 13.p. While in June. 18. 39.6%) MOU (3 months) 303. As of the end of 3Q 2011. the first and only 3G mobile network in the DPRK was able to grow its subscriber base to more than 800.0% 666.445 41. MMS. Such sponsorship and the associated advertising and intense media coverage for koryolink activities and services was the first of its kind in the DPRK.0% 809. In September. the DPRK hosted the 17 th Taekwon-Do world championship. koryolink offered its customers – for the first time in the DPRK – Multimedia Messaging Service (MMS). During 3Q 2011.209 80. koryolink renewed its commitment to boost subscriber growth as well as to maximize the foreign currency revenues through the introduction of innovative offerings to the market as well as the targeting of new market segments.0% 169% 0p. koryolink capitalized on its distribution agreement with its local partner KPTC (Korean Post & Telecom Company) and strengthened its foreign scratch card sales network in the capital to reach 24 shops.m. During 3Q 2011. SMS.7 305 300 (1. which was launched at the end of 3Q 2010.5% 9 33.2010 (3 m onths) Financial Data Revenues (US$ 000) * EBITDA (US$ 000) * EBITDA Margin Capex (US$ m) * 3Q .199 100.475 40.

During 3Q 2011 Mobinil became very active commercially where different promotions and offers were launched.4 4. acquisition and loyalty campaigns.T per minute starting the 3rd during the night. a voice offer at 14 P.576.541. was launched during Ramadan.4 (18.000 31. MMS. which provided 1. where various propositions were available every Friday (free SMS. “El Kol 14”. such as the data focused promotions through “the Jeep Cherokee competition” and a special offer for Star customers.000 free on-net minutes over 100 days to be consumed with a cap of 10 minutes daily on the „Bedoon Shoroot‟ product.401.6 million customers representing 11. during 3Q Mobinil issued a new CSR campaign “Towards better life“to partially contribute to resolving high unemployment in Egypt.8%) * ARPU expressed under OTH‟s definition may differ from Mobinil‟s disclosed figures.000 11.).GIVING THE WORLD A VOICE Equity Method Mobinil – Egypt Operational Data Sept 2010 Operational Data Subscribers 28. The 3Q 2011 closing broadband base reached 241K customers.T per minute cross net rate in addition to bundled on-net minutes.2% June 2011 Sept 2011 Inc/(dec) Sept 201 vs.6 4.312 30. A further Ramadan offer was launched providing bundled on-net minutes during fasting hours and a 1 P. Finally. Orascom Telecom Holding 3Q – 2011 P a g e | 31 .4% increase over 2Q 2011 and representing the highest level of net adds reached during 2011.5%) ARPU (EGP) * (3 months) 32 27 26 (18.2% increase over 3Q 2010 and 3. 1 Sept 201 0 ARPU (US$) * (3 months) 5. The promotions and offers throughout the quarter were supplemented by various segmented reactivation. 3Q 2011 closing mobile base reached 31. A new acquisition offer was launched. call tone etc. Happy Friday offers resumed during the quarter (except Ramadan).

Third quarter indicators show continued strong customer acceptance across different market segments. and third party retailers. feature-rich service plans and seasonal promotions and is the pioneer for unlimited tariffs in the Canadian market. WIND Mobile offers simple.5 26. This coverage is supplemented with National Roaming for its customers. WIND Mobile‟s controlled handset subsidy program „WINDtab‟ has been expanded to „WINDtab+‟ capitalizing on success witnessed to date allowing much higher penetration to the postpaid market. The diversity of WIND Mobile‟s distribution network serves customers across all market segments. strategic alliances.7 Sept 2011 358. country-wide alternative in the Canadian wireless market. (“Company” or “GWMC”). WIND Mobile‟s distribution network reached a total of 400 active points of sale during the quarter including around 163 WIND branded locations. This happened in a climate of increased competition during the summer and back to school season. no system access fees and no term contracts. 1 Sept 201 0 156% n.1 Inc/(dec) Sept 201 vs. It has a wide range of voice and data services starting as low as CAD15 a month which provide global standards and true value for Canadians.a.GIVING THE WORLD A VOICE WIND Mobile– Canada Sept 2010 Operational Data Subscribers ARPU (US$)(3 months) ARPU (CAD)(3 months) 139. a market historically dominated by three incumbents. It also features no charges for incoming text or incoming long distance. June 2011 317. Globalive Wireless Management Corp. At the end of the third quarter of 2011 it had 358 thousand active subscribers. WIND Mobile provides HSUPA network coverage in five of the top six population centers in Canada and their peripheries with close to 12 million population covered. following its recent expansion in the Kitchener and Waterloo market.681 n. n.a.9 27. The Company has introduced a number of new rate plans at different price points as part of a continuing effort to meet customer needs and in response to customer feedback. WIND Mobile has established its position as the first real. Orascom Telecom Holding 3Q – 2011 P a g e | 32 . WIND Mobile‟s distribution network comprises a mix of corporate stores and kiosks.a.a. WIND Mobile continues to extend its device lineup with offerings ranging from high-end Blackberries and Android devices to entry-level feature phones. exclusive dealers.000 25.000 28. n. operating its wireless business under the brand name WIND Mobile. increasing WIND Mobile‟s active subscriber base by 13% in 3Q 2011 and reinforcing its solid share of net adds. is now in its second year of operations in the Canadian market.

5.00% 94.00% 50.00% 100.00% 100. 4.00% 99.81% 100.00% 100.00% 100.00% 100.00% Equity consolidation Equity consolidation Full Consolidation Full Consolidation Full Consolidation Proportionate Consolidation Full Consolidation Full Consolidation Full Consolidation Equity consolidation Equity consolidation Full Consolidation Full Consolidation Full Consolidation Divested Full Consolidation Full Consolidation Full Consolidation 100.00% 100.81% 100.00% 100.00% 100.00% 100.00% 28.00% 100.00% 96. 3. Direct and Indirect stake through International Telecommunications Consortium Limited (ITCL).00% 100.00% 100.00% 100. 6.00% 100.00% 100.00% 100.00% 100.00% Divested 100.A. the mobile operator. and Oratel. OT Ventures owns 100% of Sheba Telecom which operates under the trade name banglalink.00% 100.00% 100. Direct and Indirect stake through Moga Holding Ltd.00% 51.00% 100.00% 50.00% 100.00% 100. 2.00% 50.00% 100.00% 50. OIH owns 100% of Orascom Telecom Iraq which sold Iraqna in December 2007.00% 100.00% 100.00% 96.00% 0.00% 100.00% 100.00% 100. Orascom Telecom Holding 3Q – 2011 P a g e | 33 .00% 100.00% 100. Consolidation Method Septem ber 30 2010 2011 2011 28.00% 51.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100. Holding company for OTH‟s Share in Globalive which has been accounted for under the equity method.75% 20.C OTUH CORTEX 1.T.00% Full Consolidation Full Consolidation 99.00% 100.00% 100.75% 20.00% 100.GIVING THE WORLD A VOICE Table 19: Ownership Structure & Consolidation Methods Subsidiary Ow nership Septem ber 30 2010 GSM Operations Mobinil (Egypt) 1 Egyptian Co.00% 100. Mobinil is also the brand name used by ECMS.00% 75. 4 OT Wireless Europe OT WIMAX TWA OIIH OT Holding FPPL MinMax Ventures OIH 5 OTFCSA OT Holding Canada 6 ITCL SAWLTD OT_OSCAR OTLB TMGL OTO C.00% 100.00% Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Proportionate Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Proportionate Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Proportionate Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Proportionate Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Full Consolidation Divested Divested Full Consolidation Mobinil is a holding company which controls 51% of ECMS.00% 100.00% 100. for Mobile Services IWCPL (Pakistan) Orascom Telecom Algeria 2 Telecel (Africa) Orascom Telecom Tunisia Telecel Globe OT Ventures 3 CHEO Internet Service Intouch Non GSM Operations Ring OTCS OT ESOP OT Services Europe MedCable Mena Cable Moga Holding Oratel C.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 50.00% 75.

E. MOU (Minutes of Usage): Average airtime minutes per customer per month. IT.com Website: www. and actual results may differ materially from those in the forward looking statements as a result of various factors. This includes billable national & international outgoing traffic originated by subscribers (on-net. this includes incoming traffic to subscribers from land line or other operators. Such forward looking statements are no guarantees of future performance and involve risks and uncertainties. which is not intended to reflect Orascom Telecom‟s business or acquisition strategy or the occurrence of unanticipated events. Churn Rule: A subscriber is considered churned (removed from the subscriber base) if he exceeds the 90 days from the end of the validity period without recharging. includes work in progress. Quarterly ARPU is calculated as an average of the last three months. Mobinil and banglalink so far. A koryolink customer is considered churn if he/she does not recharge within four months after the validity of the scratch card. Also. Open cards validity is applied for OTA.orascomtelecom.26th Floor – Ramlet Beaulac Tel: +202 2461 5050 / 51 Fax: +202 2461 5055 / 54 Email: otinvestorrelations@otelecom. Investor Relations Orascom Telecom Holding S. Orascom Telecom Holding 3Q – 2011 P a g e | 34 . and other tangible and intangible fixed assets additions but excludes license fees. estimates regarding future growth in the different business lines and the global business. Market share as announced by the Regulators is based on disclosed information by the other operators which may use different subscriber recognition policy. financial results and other aspects of the activity and situation relating to the company. outgoing or incoming call or sms. This reflects the number of subscribers of the competition. These statements appear in a number of places in this presentation and include statements regarding the intent. wap session…). The same is applied to OTH subsidiaries. to land line & to other operators). You are cautioned not to place undue reliance on those forward looking statements. OTH’s Market Share Calculation Method: The market share is calculated through the data warehouse of OTH‟s subsidiaries.A. network.e. market share. SMS.GIVING THE WORLD A VOICE Appendix Glossary ARPU (Average Revenue per User): Average monthly recurrent revenue per customer (excluding visitors roaming revenue and connection fee). It is worth noting that the validity period is a function of the scratch denomination. In cases where scratch cards have open validity. belief or current expectations of the subscriber base. However. This is calculated as the number of disconnections during a month divided by the average customer base for that month. Mobilink. the subscriber is considered churned in case he has not made a single billable event in the last 90 days (i.com For more information: This presentation contains statements that could be construed as forward looking. OTH deducts the number of SIM cards that did not appear in the call detail records for the last 90 days to account for churn. Nile City Towers – South Tower . This method is used to calculate the market shares of Djezzy and Mobinil only. monthly subscription fee. Capex: Tangible & Intangible fixed assets additions during the reporting period. as well as. which speak only as of the date of this presentation. GPRS & data revenue. Churn: Disconnection rate. This includes airtime revenue (national and international). In Pakistan and Bangladesh. The number of SIM cards of competitors that appeared in the call detail record of each of OTH‟s subsidiaries is collected.