Page 1

Press Release First Quarter 2023 : Continued top line growth with strong EBITDA margin amidst a challenging macroeconomic environment Grameenphone Ltd. reported total revenues of BDT 37.3 billion for first three months of 2023 , registering a growth of 2.8 % from the same period last year . In the first three months , the Company acquired 1 Mn new subscribers , reaching 80.1 Mn total subscribers at the end of the first quarter . 54.3 % of Grameenphone's total subscribers are using internet services declining by 0.2 % from last quarter . Key Figures ( BDT ) Revenues ( Bn ) Revenues Growth YoY Net Profit After Taxes ( Bn ) grameenphone NPAT Margin EBITDA Margin Earnings Per Share Capex ( excl . license , lease & ARO ) ( Bn ) Q1 2023 37.3 2.8 % 7.8 20.9 % 61 % 5.77 6.9 " Stepping into 2023 , we leave a milestone year behind with Grameenphone celebrating its 25th year of service to its customers and empowering societies in Bangladesh . On 2nd Jan 2023 and after six months , the regulatory ban on sim sales was removed after regulator's repeatedly evaluation of GP's network strength and satisfaction . With the resumption of SIM sales our subscriber base has returned to growth , crossing the 80 million milestone . " said Yasir Azman , CEO of Grameenphone Ltd. " Our focus on continuous network investment has resulted in significant progress through spectrum & site rollout . We have doubled fiber connectivity and rolled out over 20,000 total sites . This lays the foundation for a future - ready data network that provides seamless connectivity across Bangladesh , delivering a superior network experience for our customers and building the number one network in the country . We have undertaken significant efforts to revamp our product portfolio , streamlining it to make it simpler and more effective for our customers . However , this was necessary to ensure our offerings are focused and effective , meeting our customers ' evolving needs . Our ongoing modernization and transformation journey is starting to show results , benefiting us in building a future - fit company with the right mix of competency , capabilities , tools and partnerships , and will continue to serve as an enabler for our future growth . " He added . " Grameenphone continued to deliver solid financial performance in Q1'23 , with eight consecutive quarters of growth in topline & EBITDA amidst increasing challenges from inflation , hike in energy prices & diminishing foreign exchange reserve . Total revenue grew by 2.8 % amounting to BDT 37.3 Bn for the quarter driven by 2.7 % growth in daily subscription & traffic revenue . YoY data revenue grew by 14.2 % driven by higher usage which was the key factor driving the growth in subscription and traffic revenue . " said Jens Becker , CFO of Grameenphone Ltd. Detailed Financial Statements are available at : https://www.grameenphone.com/about/investor-relations/ir-financial-report Sensitivity : Confidential " Grameenphone's EBITDA increased by 2.7 % in Q1'23 while maintaining a strong margin of 61 % . Net profit for the quarter stood at 7.8 billion with a margin of 20.9 % . YoY net profit growth was impacted by higher depreciation from spectrum acquisition last year , new sites rollout and higher finance cost . Grameenphone invested 6.9Bn capex ( excl . license , lease & ARO ) during the quarter , focusing mainly towards 4G network , coverage expansion & spectrum deployment . The company has paid BDT 24.0 Bn equaling 64.1 % of its total revenues , to the national exchequer in the form of taxes , VAT , duties , fees , 4G license and spectrum assignment during the first three months of 2023. "