2021: Improved financial performance driven by increased investment towards network rollout, spectrum deployment and modernization initiatives

Jan 27 2022

[Dhaka, January 27, 2022]  Grameenphone Ltd. reported total revenues of BDT 143.1 billion (14,307 crore) for the year of 2021, registering an annual growth of 2.5%. Having acquired 4.2 Mn new subscribers in the year, growing annually by 5.3%,  the operator reported 83.3 Mn subscribers as of 31 December 2021. 53.5% of Grameenphone’s total subscribers, or 44.6 Mn, are using internet services, growing annually by 8.0%. 
“2021 marked several milestones for Grameenphone. Early February, we hit the 80 Million subscriber mark, while in March we acquired 10.4 MHz of new spectrum. Ringing in 50 years of independence for Bangladesh in March, it was an honor for Grameenphone to deliver the widest 4G/LTE coverage across 100% of our towers nationwide, reaffirming our commitment of empowering and enabling the country’s growth and digitalization. Throughout the year, we prioritized network rollout and spectrum deployment, leading to improved and enhaced experience for our customers. Additionally, with operational execution, customer-centric product propositions, digitalization of our services and digital enablement, more subscribers opted to choose Grameenphone as their preferred digital and telecommunications service provider. We ended 2021 with 83.3 million subscribers with 5.3% growth from the previous year. Data users grew by 8.0% from last year, while 4G data users grew by 7.9 Mn from last year, registering an annual growth of 39.7%.” said Yasir Azman, CEO of Grameenphone Ltd. 
He continued, “The ongoing pandemic brought about several hurdles in the year, as Bangladesh faced its highest wave of COVID-19, followed by lockdowns. The resilience of our employees, partners, stakeholders and local communities has enabled us to continue providing seamless connectivity to our customers. As a part of our strategic ambition, we have stepped up our transformation initiatives to respond to the chaging demands of advanced mobile services from our customers. Modernization has been a key focus for us this year, focusing on operating models, integration of automation, upskilling of skills and building capabilities. The right mix of competency, capabilities, and tools will continue to serve as an enabler for future growth.”
“Grameenphone has reported an improved  financial performance in 2021, driven by higher users and usage due to network and experience enhancement, reporting a 2.5% annual growth in total revenues amounting to BDT 143.1 Bn (14,307 crore) for the year. In the fourth quarter, subscription and traffic revenues grew by 3.6% while data usage grew by 49.0% from the same period last year.” said Jens Becker, CFO of Grameenphone Ltd. “In the fourth quarter, EBITDA grew by 2.6% from the same period last year, leading to a full year growth of 1.6% and an EBITDA margin of 62.6%. Net Profit After Tax for the full year stood at BDT 34.1 Bn, (3,413 crore) declining by 8.2% from the same period last year due to favourable one-offs adjustments in finance cost and tax expenses in the fourth quarter of 2020. Net Proft margin for 2021 stood at 23.9%.”
The Board of Directors of Grameenphone Ltd. have recommended 12.5 BDT dividend per share final dividend for 2021 based on the decision taken at the Board Meeting held on 26 January 2022. With this, the total cash dividend stands at 250% of paid-up capital which represents 98.9% of Profit After Tax for the year 2021 (including 125% interim cash dividend). The Shareholders as of the record date of 23 February 2022 will be entitled for this final dividend, which is subject to the Shareholders’ approval at the 25th AGM to be held on 26 April 2022.
During the fourth quarter of 2021, Grameenphone Ltd invested BDT 6.5 Bn (654 crore) for network coverage and expansion. Grameenphone’s total number of sites stands at 18,301. The company has paid BDT 102.8 Bn (10,280 crore) equaling 71.8% of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment in the year of 2021.  
Md Hasan,
Head of External Communications 
Email: md.hasan@grameenphone.com 
Phone: 8801711082469
About Grameenphone Ltd.
Grameenphone, part of the Telenor Group, is a leading telecommunications service provider in Bangladesh with more than 80 million subscribers. Since its inception in 1997, Grameenphone has built the largest cellular network in the country, covering nearly 95 percent of the country’s population. With its brand promise to enable customers to “Go beyond,” Grameenphone seeks to help customers get the full benefit of mobile data and voice services and provide Internet For All. Grameenphone is listed on the Dhaka Stock Exchange. www.grameenphone.com:  www.facebook.com/grameenphone