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06 Chart 1: Middle East Telecoms | Total Companies: 18 Company Name


Etihad Atheeb Telecommunication Company Mobile Telecommunications Comany Saudi Arabia Orascom Telecom Holdings S.A.E Qatar Telecom Q.S.C. (Qtel) Vodafone Qatar Q.S.C. Etihad Etisalat Co.


National Mobile Telecommunications Company K.S.C Saudi Telecom Co. Telecom Egypt


The Egyptian Company for Mobile Services S.A.E. (Mobinil) Emirates Integrated Telecommunications Company PJSC (Du) Emirates Telecommunications Corp. (Etisalat) Mobile Telecommunications Company KSC (Zain) Turk Telekomunikasyon A.S.


Bahrain Telecommunications Comany B.S.C. (Batelco) Jordan Telecommunication Company


Oman Telecommunications Company SAOG Turtas Ihracat ve Ithalat A.S.


Chart 2: EMEA Telecoms | Total Companies: 22 Company Name


France Telecom S.A. OT-Optima Telekom d.d.


Portugal Telecom SGPS S.A. Telecom Italia SpA Vodafone Group PLC


Bashinformsvyaz Open Joint-Stock Company Jazztel PLC


Koninkiijke KPN N.V. One-2-One S.A.


Telekom Slovenije, d.d. Vodafone Qatar Q.S.C 3U Holding AG GO plc


Qatar Telecom Q.S.C. (Qtel) Saudi Telecom Co. Swisscom AG


Allied Technologies Limited Celtel Zambia Plc


Emirates Integrated Telecommunications Company PJSC (Du) Telenor ASA


Zamano Public Limited Company CREDIT HEALTH PANEL | GROUP VIEW 1 Top


Overall 4


CreditHealth Panel Company Scores Income Operational


4 1 2 Above average 3 Below average 4 Bottom


Liquidity 4


4 4 3 4 4 4 3 3 4 2 4 2 4 4 2 4 3 1 3 4 3 3 3 3 3 1 4 2 3 3 3 1 3 2 2 4 2 4 1 3 2 2 4 2 2 1 4 1 2 1 4 3 1 3 2 1 1 3 2 1 1 3 1 2 1 2 1 3


CREDIT HEALTH PANEL | GROUP VIEW


Overall 4


1 Top


CreditHealth Panel Company Scores Income Operational


1 4 Country


Saudi Arabia Saudi Arabia Egypt Qatar Qatar


Saudi Arabia Kuwait


Saudi Arabia Egypt Egypt UAE UAE


Kuwait Turkey


Bahrain Jordan Oman Turkey


2 Above average 3 Below average 4 Bottom


Liquidity 4


4 4 1 4 4 3 4 3 4 1 4 3 4 2 4 2 3 3 3 2 3 3 1 4 3 1 3 4 3 4 1 3 3 4 4 1 3 4 2 4 2 4 2 1 2 3 3 2 2 3 3 2 2 2 3 2 2 1 3 3 1 3 2 1 1 2 2 3 1 2 2 3 1 2 2 1 1 4 1 1


Country France Croatia Portugal Italy


United Kingdom Russia Spain


Netherland Poland


Solvenia Qatar


Germany Maltas Qatar


Saudi Arabia Switzerland South Africa IAE IAE


Norway Ireland


*LTM - Latest Twelve Months period. The Credit Health Panel uses the most recent reported financial statements for comparision and scoring purposes. For more information regarding the use of LTM fundamental data, refer to the Appendix of the Credit Health Panel and Methodology.


Middle East Market Review | November 2011


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