Asiacell Reports Strong Financial Results, Reinforcing Its Market Leadership in Iraq's Telecom Sector
Sulaymaniyah, Iraq - April 23rd, 2025
Asiacell announces its audited financial results for the year ended 31 December 2024, revealing strong growth in revenues, EBITDA, net profit, and subscriber base. These results underscore the company’s clear imprint on the Iraqi telecommunications sector and its steadfast commitment to leading digital transformation and innovating modern communication solutions.
In 2024, Asiacell delivered an exceptional financial performance, with revenue increasing by 12.8 percent year-on-year to approximately IQD 1.9 trillion. EBITDA reached IQD 860 billion, up 18.1 percent, while net profit amounted to IQD 394 billion, a significant rise of 12% percent. This performance reflects the success of the company’s plans and the efficiency of their execution.
Meanwhile, Asiacell’s subscriber base increased to 19.1 million by year-end, compared with 17.7 million in 2023, demonstrating the success of the company’s strategies in attracting new subscribers’ segments and maintaining loyalty among existing customers.
Commenting on the results, Mr. Faruk Mustafa Rasool, Chairman of the Board, said:
“Asiacell continues to move toward the future with commitment to innovation and sustainable growth. We are committed to keeping pace with the latest global technologies and services to meet the evolving market needs and to serve the interests of our subscribers and the Iraqi community alike. We aim to reinforce our leadership in the telecommunications sector through advanced technological solutions that support digital transformation.”
The company confirms that all data mentioned pertain to the 2024 fiscal year and do not include any indicators or forecasts for 2025.
Asiacell seizes this opportunity to extend its deep gratitude to its esteemed shareholders and investors for their continuous support and trust in the company’s journey and its commitment to transparency and timely disclosure. Asiacell also reiterates its constant commitment to fair competition in the Iraqi telecommunications sector and its rejection of any form of monopoly, believing that a competitive market fosters innovation and improves the quality of services provided.
