Sheikh Abdulla bin Mohammed bin Saud Al-Thani, Chairman and Group CEO
Driven by strong contributions from Qatar, Oman, Indonesia, Algeria and Maldives, Ooredoo Group’s net profit attributable to its shareholders increased by 4 percent to QR1.8bn for the first nine months (9M)ended September 30, 2016. The nine-month net profit results benefitted from Foreign Eexchange (FX) gains, which have been partially reversed again by FX losses in the third quarter of 2016.
Revenue stood at QR24bn. Excluding Foreign Exchange translation impact, revenues would have increased by 2 percnet compared to the reported flat revenue. Group EBITDA was stable at QR10bn with an improved EBITDA margin of 42 percent, indicating an improvement in operational performance from 9M 2015 (41 percent). Excluding Foreign Exchange translation impact, Group EBITDA would have increased by 3 percent year-on-year, the group said in a statement yesterday.
The nine months witnessed continued strong data growth from consumer and enterprise customers. Data revenue increased to 39 percent of Group revenue. Revenue from data contributed QR 9.4bn in 9M 2016. Group B2B revenue increased to 17 percent of Group Revenue or QR 4.1bn during the period reflecting Ooredoo’s ongoing investment in services for business customers.
On the operational side, Ooredoo’s customer base increased by 16 percent to reach almost 133m. Ooredoo continues to be a data leader in its markets. 4G networks are now available in 8 of Ooredoo’s 10 markets.
Commenting on the results, Sheikh Abdulla bin Mohammed bin Saud Al-Thani, Chairman of Ooredoo, said: “Ooredoo has produced good results for the past nine months, delivering healthy profitability levels and value for its shareholders. In Q3 we have seen a positive trend for Revenue and EBITDA."
Sheikh Saud bin Nasser Al Thani, Group Chief Executive Officer of Ooredoo said:“Our strategy to optimise efficiencies across a consolidated portfolio resulted in improved financial results for the period. Our focus on efficiencies delivered an improved Group EBITDA Margin of 42 percent.".
