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1999 Annual Report
General Highlights
This report sheds light on the results of the company's operation, main activities, and achievements for 1999 as well as its plans for 2000. The Auditors' Report, Balance
Sheet, Cash Flow and Profit & Loss Financial Statements for the fiscal year ending December 31, 1999 are included.
Great strides in the installation of new services were made in 1999, even as the company sought to reach and maintain high levels of customer satisfaction.
As it had the year before, PalTel managed to achieve remarkable accomplishments, profoundly impacting the telecommunications sector and the expansion of the Palestinian national and independent telecommunications backbone. Achievements were gained through the continuous support from the Palestinian National Authority (PNA) represented by the Ministry of Post & Telecommunications (MoPT),
which has assigned the mission of construction and management of the telecommunications
sector to PalTel.
PalTel is a public shareholding company, established with capitalization of 45 million Jordanian Dinars (JD 45 million) raised to about 67.5 million Jordanian Dinars on November 27, 1999 during the General Assembly's last meeting.
December 31,1999 Exchange Rate:
1.0 JD = 1.049 US $ 2.0
Financial Highlights
|
1998 |
1999 |
|
| Net revenues |
36.0 |
47.0 |
JD (millions) |
| Net profit pre-jawwal project |
8.57 |
10.58 |
JD (millions) |
| Net profit |
8.57 |
6.37 |
JD (millions) |
| Earnings per share |
0.19 |
0.14 |
JD |
| Capital expenditures |
48.6 |
85.77 |
JD (millions) |
| Free cash flow |
10.34 |
6.94 |
JD (millions) |
Development Indicators
Within a short period of time telephony services in Palestine have developed quantitatively and qualitatively due to the completion of many projects,
as illustrated by the Development Indicators table below:
| Indicators |
Dec. 96 |
Dec. 98 |
Dec. 99 |
| Exchanges |
14 |
28 |
35 |
| RSUs |
4 |
41 |
57 |
| Equipped Capacity |
89,958 |
232,005 |
314,221 |
| Served Localities |
48 |
210 |
345 |
| Subscribers |
83,331 |
16,7271 |
222,198 |
| Waiting Lists |
206,000 |
156,248 |
38,750 |
| Penetration Rate |
3.4% |
5.9% |
8% |
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