Ooredoo demonstrates strong growth in 2012

March 04, 2013 - 12:37:58 am

DOHA: Ooredoo, formerly known as Qtel Group, demonstrated a continued financial growth last year. Net profit of Ooredoo shareholders  rose to QR2.9bn, a  13 percent increase compared to QR2.6bn in 2011. The Board of Directors yesterday recommended a cash dividend of 50 percent of the nominal share value.

The Group revenue grew by 6.2 percent year-on-year to QR33.7bn vs QR31.8bn in 2011. The strong revenue growth is driven by healthy increases in Iraq, Algeria, Qatar and Indonesia supported by a stable performance by Nawras.

Ooredoo’s Earnings Per Share (EPS) in 2012 stood at QR9.88 compared to QR9.90 in 2011 with earnings per share for 2011 restated as a result of the issuance of 30 percent bonus shares and 40 percent rights issue in H12012.

The year 2012 has seen Ooredoo making  strong progress operationally, financially and technologically.  

As at 31 December 2012, the Group’s consolidated customer base stood at 92.9m  compared to 83.4m in 2011, representing year-on-year growth of 11.5 percent.  Group EBITDA in the period increased by 5.1 percent year-on-year to stand at QR15.5bn  compared to QR14.8bn in 2011. Ooredoo also maintained a solid EBITDA margin during the year, with the margin at the end of 2012 standing at 46 percent  against 47 percent in 2011.

Commenting on the results, Sheikh Abdullah bin Mohammed bin Saud Al Thani, Chairman of Ooredoo said: “Today’s record results demonstrate that we are ready to take our company to the next level. We have delivered record revenue and are seeing on-going growth in some of the most important sectors for the future, such as mobile data and broadband services. By unifying our companies under our new brand, Ooredoo, we can leverage our combined resources to serve customers and deliver for shareholders. On behalf of the Board of Directors, I am pleased to recommend to the General Assembly the distribution of a cash dividend of 50 percent of the nominal share value i.e. QR5 per share.”

Dr Nasser Marafih, Group Chief Executive Officer of Ooredoo commented: “As a combined and united team, we are improving the customer experience in all areas. Key milestones in technological and network enhancements, such as the introduction of 4G services and the transition from 2G to 3G across key markets, have been achieved in 2012. As Ooredoo, we have a young, exciting brand that reflects the aspirations of our customers — we will continue to deliver on their aspirations now and in the future.”  

The Group’s financial results show Qtel Qatar continued to lead the way in a rapidly-evolving market, having consolidated its position as the top telecommunications provider, and making significant progress up the enterprise value chain into managed ICT services in 2012. 

Qtel’s revenue exceeded QR6bn for the first time in the company’s history, representing a 9 percent growth on 2011 figures. EBITDA also increased, advancing 10.2 percent year-on-year to stand at QR3.2bn compared to QR2.9bn in 2011. As at 31 December 2012, Qtel Qatar’s consolidated customer base stood at 2.5m against 2.4m in 2011.

The year 2012 also saw successful trials for the country’s first 4G LTE broadband network and significant nationwide progress of the Qtel Fibre network. Enabled by Fibre, the company launched Next Generation Mozaic TV 3.0, which provides High Definition picture, video-on-demand, and the ability to pause, rewind and record live TV. 

In addition, 2012 saw the launch of the world’s first Mobile Money MoneyGram service, so that customers can transfer money to 196 countries around the world via their mobile. In the enterprise space, Qtel launched its enhanced cloud services, employing much-needed managed software and infrastructure services to businesses of all sizes across Qatar.

Indosat’s consolidated customer base stood at 58.6m in 2012, compared to 51.9m in 2011. Revenue in 2012 grew by 3 percent year-on-year to QR8.8bn compared to QR8.6bn in 2011.

Wataniya Telecom (National Mobile Telecommunications Company KSC) encompasses Ooredoo businesses in Kuwait, Tunisia, Algeria, Kingdom of Saudi Arabia, the Maldives and Palestine.  It posted a revenue of QR9.7bn, a year-on-year increase of 0.4 percent. 

In Oman, the Nawras consolidated customer base stood at  2.2m customers  in 2012 compared  2.0m in 2011 with revenue for the year  of QR  1.9bn. 

In 2012, Asiacell delivered revenue of QR 6.9bn, up 15.9 percent, compared to 2011.  An increase in EBITDA was also achieved, up 14.1 percent year-on-year to QR 3.7 bn compared to  QR3.2bn in 2011. The Peninsula