Ramallah-(BNEWS)- Palestine Telecommunications Company/Jawwal has announced its preliminary (unaudited) consolidated financial results for 2024, a year marked by unprecedented challenges at all levels due to the aggression against the Gaza Strip, which significantly impacted the company’s operational activities and infrastructure. Additionally, the challenging economic and security conditions in the West Bank affected the company’s revenues, which amounted to 241.1 million Jordanian dinars, compared to 280.4 million Jordanian dinars in 2023, reflecting a decline of 14%.
Despite these challenges, the company successfully maintained a strong profit margin and adapted to the prevailing conditions by enhancing operational efficiency and optimizing expenditures. This resilience reaffirms its solid economic standing. As a result, the company achieved a net profit of 41.8 million Jordanian dinars in 2024, compared to 43.3 million Jordanian dinars in the previous year, representing a decline of only 3.6%.
Chairman of the Board, Sabih Masri, stated: "Despite significant challenges, the company continues to lead the telecommunications and information technology sector in Palestine as the largest operator in this field. It offers the most diverse and innovative services to its broadest subscriber base, reaffirming its commitment to continuously developing the network and implementing the latest technological advancements ensuring an outstanding and continuously improving user experience."
Masri also highlighted the company’s success in keeping Gaza’s residents connected with their families and loved ones both inside and outside the Strip throughout the year. This was achieved through the adoption of innovative technological solutions, leveraging the expertise of the company’s engineers and teams, as well as the continued provision of billions of free minutes, messages, and internet packages to its subscribers.
Regarding the development of fixed internet services, CEO Abdulmajeed Melhem praised the 61% growth in the home fiber subscriber base in the West Bank, reflecting customers' confidence in the company’s services. This growth was driven by continued investment in the network despite challenging economic conditions, resulting in increased internet speeds across Palestine. Furthermore, the company continued to enhance its networks in the West Bank by reinforcing security standards that exceed global benchmarks, ensuring uninterrupted service despite the challenges and restrictions in the West Bank. Melhem also reaffirmed the company’s commitment to advancing digital transformation, which includes automating customer interaction channels, streamlining internal operations, and developing mobile applications.
Palestine Telecommunications Company/Jawwal, established in 1995 as a public shareholding company, connects Palestine through the largest and most modern network in cellular and fixed-line communications, internet services, and IT solutions. Through continuous growth, the company remains committed to strengthening Palestine’s position as a key player in the regional technology sector.
