Vodafone Qatar yesterday announced its financials for the third quarter of its current financial year ended December 31, 2016 and reported a ‘distributable profits’ of QR69m for the period (Q3), up 89 percent compared to the last quarter (Q2).
The Company reported that its ‘Net Financing Positions’ reduced to QR770m against QR896m last year.
Commenting on the results, Vodafone Qatar’s Chief Executive Officer, Ian Gray (pictured), said: “Our financial results highlight continued improvement in our performance during the third quarter, building on the strong momentum we built last quarter.”
“Most notably, EBITDA margin (earnings before interest, tax, depreciation and amortisation, which is a measure of a company's operating performance), improved during the quarter to 31.2 percent, reflecting a 28 percent increase year on year and 3.8 pps (percentage points) on a sequential basis, led by improved market pricing, better product mix and tight cost control.
"Although the Company continued to deliver a loss after amortisation of the licence, distributable profits rose to QR 69m,” Gray added.
“The Company’s customer base grew to over 1.47 million within which the post-pay customer base grew by 5.8 percent in the quarter led by mid-range Connect plans and high value Red Plans.
"Total revenue for the quarter was QR541m, growing 0.8 percent from last year and growth of 8.4 percent on a sequential basis.”
He further added: “We intend to continue with our current strategy, building on our international reputation through quality services and products, expanding from our core mobile strength and further investing in fixed line activities.”
The Company, in a statement, said that it is committed to providing world class telecommunications infrastructure to support Qatar National Vision 2030. Effective January 2015, Vodafone Qatar became fully compliant with Islamic Sharia practices throughout its business, including commercial and financial operations.
