Saturday 24 October 2020

Ooredoo Q1 revenue up 2pc to hit $2.2bn

DOHA, April 27, 2017

Qatar-based telecom group Ooredoo has posted revenues of QR8 billion ($2.2 billion) during the first quarter (Q1) of the year, marking an improvement of 2 per cent over Q1 2016.

In local currency terms, growth was driven by Ooredoo Qatar, Indosat Ooredoo, Ooredoo Oman, Ooredoo Tunisia, Ooredoo Myanmar and Ooredoo Maldives. Excluding foreign exchange translation impact, revenues would have increased by 3 per cent year-on-year, a company statement said.

Group EBITDA increased by 8 per cent to QR3.4 billion with an improved EBITDA margin of43 per cent, indicating a strong operational performance and cost control.

Group net profit to Ooredoo shareholders decreased by34 per cent to QR584 million.Net profit results in Q1 2016 benefitted from significant foreign exchange gains of QR 380 million, the statement said, adding that excluding the foreign exchange impact, net profit in Q1 2017 was up by 3 per cent.

Continued strong data growth from consumer and enterprise customers resulted in data revenue getting increased to 43 per cent of Group revenue. Revenue from data contributed QR3.5 billion in Q1 2017.

Group B2B Revenue increased to17 per cent to QR1.4 billion in Q1 2017 reflecting Ooredoo’s ongoing investment in services for business customers.

Customer base increased by 26 per cent to reach 149million driven by strong growth across major markets.

Data Leadership with 4G roll-out continuing in multiple markets; 4G networks are now available in 8 of Ooredoo’s 10 markets.

Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, chairman of Ooredoo, said: “Ooredoo increased Revenue, EBITDA and strengthened its customer base to further enhance shareholder value. Revenue stood at QR8 billion in Q1 2017, up by 2 per cent from the same period last year and EBITDA was QR3.4 billion, up by 8 per cent compared to Q1 2016. Our strategy to optimize efficiencies across our diverse portfolio resulted in an improved Group EBITDA Margin of 43 per cent.”

“Our relentless focus on our digital strategy and delivering world class infrastructure and innovative products is paying dividends; with a significant 26 per cent increase in customer base we are now reaching almost 150 million customers.

“Another milestone in our digital strategy was the launch of our 4.5G Pro network in Qatar in February. We are one of the first operators globally to offer this cutting edge technology, which increases mobile data speeds to up to 800 Mbps,” he added.
Also commenting on the results, Sheikh Saud bin Nasser Al Thani, Group chief executive officer of Ooredoo said: “Our financial performance across the Group has shown improvement over the course of the past three months, driven by strong contributions from Ooredoo Qatar, Indosat Ooredoo, Ooredoo Oman and Ooredoo Maldives, resulting in a 2 per cent increase in revenues.”

“Ooredoo Qatar, Kuwait, Algeria, Tunisia, Maldives, Myanmar and Indosat Ooredoo delivered good growth in EBITDA, capitalizing on Group efficiencies, solid operational performance and growth in customer numbers.

“Ooredoo Qatar produced a positive performance in terms of Revenue, up 2 per cent and EBITDA, which increased by 9 per cent,” he noted.

“Indosat Ooredoo maintained its strong contribution to the Group, with revenue of QR2.0 billion, up by 8 per cent from Q1 2016, while EBITDA reached QR902 million, up by 6 per cent compared to the same period last year.

“Ooredoo Maldives delivered another outstanding performance as revenues increased by 13 per cent to QR113 million, while EBITDA was up by 19 per cent reaching QR67 million, delivering strong results ahead of its IPO later this year.
“Data as a percentage of Group revenue is now 43 per cent, reflecting our ability to deliver highly valued data services to our customers across our best in class data networks,” Sheikh Saud concluded. – TradeArabia News Service

Tags: 4G | subscribers | Net Profit | Ooredoo |

More IT & Telecommunications Stories

calendarCalendar of Events