Telecom Egypt H1 2026 Results: Profit Jumps 47% YoY

In Short

Telecom Egypt released its audited H1 2026 results for the period ending June 30, 2026. The company reported faster revenue growth, higher profitability, and lower leverage.

What Happened

Telecom Egypt said total revenue rose 17% year on year to EGP 59.2 billion in H1 2026. The biggest driver was data revenue, which grew 26%. Data revenue is money earned from internet usage, fixed broadband subscriptions, and other connectivity services.

The company also pointed to a 32% rise in international incoming calls revenue. That line benefitted from higher traffic volumes, foreign exchange gains, and steady demand for cross-border connectivity.

Operational performance improved too. EBITDA, which is earnings before interest, taxes, depreciation, and amortisation (a common proxy for operating cash earnings), increased 20% to EGP 26.4 billion. The EBITDA margin reached 45%, meaning the company kept 45 piasters of operating earnings for every 1 Egyptian pound of revenue.

Net profit rose 47% year on year to EGP 15.4 billion. Net profit margin improved to 26% from 21% in H1 2025.

Telecom Egypt reported in-service CapEx of EGP 4.9 billion, equal to 8% of sales. It also reported cash CapEx, including licences, of EGP 18.6 billion. Free cash flow to the firm (FCFF), which is cash left after operating costs and investment spending, reached EGP 10.0 billion.

Leverage improved. Net debt to annualised EBITDA fell to 1.2x from 1.6x a year earlier.

Why It Matters

For WE, these numbers signal improving efficiency at a time when operators across Africa face high network investment needs and volatile currency conditions.

The results also highlight how tariff changes and data demand can lift revenue faster than legacy voice services. Telecom Egypt said it plans to stay disciplined on capital allocation while pursuing digital infrastructure opportunities, including through its wholly owned data center subsidiary.