Ooredoo announces nine month revenue increases 3% to QAR25.7bn | Ooredoo announces nine month revenue increases 3% to QAR25.7bn -
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Ooredoo announces nine month revenue increases 3% to QAR25.7bn

: Thursday, October 31 - 2013 @ 07:46

Ooredoo Q.S.C.  announced results for the nine months ended 30 September 2013. Net profit attributable to Ooredoo shareholders includes Foreign Exchange losses primarily from Indosat. Excluding this FX impact the Net Profit to Ooredoo shareholders stood at the same level as in Q3 2012 and increased by 12% for 9 months 2013.

 

  • Earnings per share in 9M 2013 stood at QAR 6.46 (9M 2012: QAR 7.43).

 

Highlights:

 

  • Increase in Group revenue of 2.6% over the first nine months of 2013 fuelled by continued strong performances in Qatar, Algeria and Iraq, whereas competitive dynamics and challenging economic environment impacted business in Kuwait and Tunisia.

 

  • Excluding foreign exchange impact Net Profit for the 9 months increased by 12% year-on- year.

 

  • Ross Cormack, most recently Nawras CEO appointed as Ooredoo Myanmar CEO in October 2013.  Ooredoo Myanmar is in the process of finalizing the license terms and preparations are underway for the commercial roll-out of next generation of mobile services.

 

  • Successful participation in the Algerian 3G licensing process. Nedjma received post period end a provisional license to operate 3G services from the Algerian Regulatory Authority for Post and Telecommunications.

 

During the first 9 months of 2013 Group revenue grew by 2.6% year-on-year to QAR 25.65 billion (9M 2012: QAR 25  billion). As at 30 September 2013, the Group’s consolidated customer base stood at 89.6 million (9M 2012:  89.2 million), representing year-on-year growth of 0.4%. Group EBITDA in the period decreased by -3.2 % year-on-year to stand at QAR 11.29 billion (9M 2012: QAR 11.67 billion). EBITDA margin at the end of 9M 2013 was 44% (9M 2012: 47%).

 

Net profit attributable to Ooredoo shareholders was QAR 2,069 million, representing a  4% year-on-year decrease (9M 2012: QAR   2,156 million).  Reported net profit was largely impacted by the QR 466 million foreign exchange loss for the third quarter of 2013.

 

Commenting on the results, His Excellency Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman of Ooredoo said: “Our success as a business comes from the strength of our relationship with our customers. Throughout the year, as we have transformed our brand and executed our strategy for growth, we have remained focused on supporting human growth in all its aspects. Through new initiatives such as investments in sports sponsorship, youth coaching and other community programmes, we are making a positive contribution to the lives of our customers and reinforcing our role as a trusted provider and partner. We look to the final quarter with confidence and believe that we are well placed for a robust outcome to the year as a whole.”

 

Also commenting on the results Dr. Nasser Marafih, Group Chief Executive Officer of Ooredoo said: “Ooredoo has continued to produce strong revenue growth in this period, with particularly impressive performances from Ooredoo Qatar, Nedjma and Asiacell. Our customers continue to respond positively to our services, particularly to the new product areas made possible by our next generation networks. Our focus on the best customer experience and the most reliable networks is helping to drive our business growth, and we look forward to a significant step-change in our services in Algeria, where we have received a new 3G license, and in our newest market of Myanmar. We believe that communication technology can transform people’s lives, and that is what we intend to do across our global footprint.”

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Thursday, October 31- 2013 @ 7:46 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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