Ooredoo’s revenue for the first quarter of 2017(Q1,17) increased to QR8bn, an improvement of 2 percent over Q1, 16. 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 percent year-on-year.
Group EBITDA increased by 8 percent to QR3.4bn with an improved EBITDA margin of 43 percent, indicating a strong operational performance and cost control.
Group net profit to Ooredoo shareholders decreased by 34 percent to QR584m. Net profit results in Q1, 16 benefitted from significant foreign exchange gains of QR380m. Excluding the foreign exchange impact, net profit in Q1 2017 was up by 3 percent, Ooredoo announced here yesterday.
Ooredoo’s data revenue increased to 43 percent of Group revenue. Revenue from data contributed QR3.5bn in Q1,17. Group B2B revenue increased to 17 percent to QR1.4bn in Q1,17 reflecting Ooredoo’s ongoing investment in services for business customers.
Commenting on the results, 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 QR 8.0 bn in Q1 2017, up by 2 percent from the same period last year and EBITDA was QR 3.4bn, up by 8 percent compared to Q1 2016. Our strategy to optimize efficiencies across our diverse portfolio resulted in an improved Group EBITDA margin of 43 percent.
"Our relentless focus on our digital strategy and delivering world class infrastructure and innovative products is paying dividends; with a significant 26% 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..."”
Ooredoo’s customer base increased by 26 percent to reach 149 million driven by strong growth across major markets.
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 percent increase in revenues. Ooredoo Qatar, Kuwait, Algeria, Tunisia, Maldives, Myanmar and Indosat Ooredoo delivered good growth in EBITDA
In the Middle East, Ooredoo Qatar delivered another strong performance in Q1 2017, with positive results in terms of revenue, EBITDA and net profit.
Revenue grew by 2 percent to QR2.0bn while the number of customers was stable at 3.5 million. EBITDA stood at QR1.02bn for Q1,17, 9 percent above Q1 16 (QR941m).
Ooredoo focused on maintaining and developing its position as Qatar’s data experience leader during the quarter.
The company officially launched its 4.5G Pro network in February, becoming the first operator in the Ooredoo Group, first operator in the Middle East, and one of the first operators in the world to offer the breakthrough technology, which increases mobile data speeds to up to 800 Mbps.
In addition, Ooredoo launched 10 Gbps fibre services in select areas of Doha in March.
The focus on enhanced network services was complemented by a range of content and entertainment offerings, including the launch of new digital services in partnership with MBC Group, and by upgrades and new packages for data services for home, business and mobile customers.
Ooredoo Oman’s revenue was increased by 2 percent to QR662m driven by increases in both mobile and fixed data revenue. EBITDA stood at QR350 million (QR 354m in Q1 16).
