Ooredoo Group posts QR33.9bn revenue in 2013

March 05, 2014 - 12:54:37 am

DOHA: Ooredoo’s Group revenue increased 1.1 percent to QR33.9bn for the full-year 2013. Net profit attributable to Ooredoo shareholders for the year was QR2.6bn compared to QR2.9bn for the same period in 2012. The Board of Directors recommended a cash dividend of 40 percent of the nominal share value , means QR4 per share.

Normalised full-year 2013 and fourth quarter in 2013 net profit attributable to Ooredoo shareholders, excluding currency loss, one-off tower sale gain in Q3, 2012 in Indosat and start-up cost in Myanmar, stood at QR3.34bn,  up 16 percent against FY12 and QR 641m, down 11 percent against Q4, 2012, respectively. 

The group’s EBITDA and EBITDA margin were impacted by currency depreciation, Myanmar start-up costs, investment into Kuwait’s recovery strategy and global brand roll-out.

Ooredoo Algeria successfully launched widest 3G service network in Algeria in December. Wataniya Kuwait delivering on recovery strategy in highly competitive market, improving Q3, 2013 against Q4, 2013 EBITDA, EBITDA margin and net profit trends. 

Ooredoo Myanmar planning to launch 3G only services within six months. Ooredoo global brand roll-out successfully completed in Algeria, Tunisia and Maldives, following on from the launch of Ooredoo in Qatar earlier in the year. Successful launch of inaugural $1.25bn sukuk was four times over-subscribed.

As at December 31, 2013, the consolidated customer base stood at 96 million against 92.9m in 2012, representing year-on-year growth of 3.5 percent. 

The EBITDA for the period was down by six percent to QR14.6bn against QR15.6bn in 2012 and EBITDA margin was also down to 43 percent against 47 percent due to the adverse currency impact of the Indonesian Rupiah, Myanmar start-up costs, brand roll out cost and the group’s investment into Kuwait’s recovery strategy.

Commenting on the results,  Sheikh Abdullah bin Mohammed bin Saud Al Thani, Chairman of Ooredoo, said: “Ooredoo has produced solid revenue growth in 2013 a year in which the group faced challenges as well as opportunities. Across our portfolio our focus remains on delivering the best customer experience and the most reliable networks. This commitment is helping to drive our business growth, which we have seen this year in markets such as Algeria where we launched the widest 3G network in the country, in our home market in Qatar, and Myanmar where we are planning to launch the country’s best 3G network later this year.”

Dr Nasser Marafih, Group Chief Executive Officer of Ooredoo said: “Ooredoo faced a range of competitive challenges across its markets during the course of 2013. However, our strategic investment into the continual improvement of our networks, customer experience, products and services, distribution and branding saw some notable successes and improving trends across our portfolio.” 

Ooredoo Algeria delivered strong revenue and EBITDA growth, with Ooredoo Qatar and Nawras also performing well. Indosat secured good customer growth and is seeing increasing mobile data traffic and revenue in its modernised network. Wataniya Kuwait now has the market’s leading next generation network and it is beginning to win back market share and perform financially in a highly competitive market. Asiacell performed well with strong growth in customer numbers despite the increasing levels of competition in Iraq.  

Ooredoo, Qatar, delivered impressive results for the group during the year, with revenue growing by 5.9 percnet year-on-year to QR6.6bn against QR6.2bn in 2012 and a consolidated customer base of 2.9 million. EBITDA performance showed a slight increase of 0.7 percent year-on-year to QR3.3bn. National re-brand and network modernisation programmes generated higher costs. 

Ooredoo significantly enhanced its product portfolio in Qatar during the quarter, with a range of new services for consumer and business customers. The company’s investment in a nationwide fibre network delivered positive results, reaching the milestone of 100,000 customers in Qatar by the end of 2013. 

The Peninsula

comments powered by Disqus