Ooredoo Group's net profits increase 4% in 9M 2016

Revenue stood at QAR 24 billion
Ooredoo Group, Ooredoo Group's revenues increase 2% in Q3 2016, Ooredoo revenues Q3, Q3 results

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Ooredoo group has announced results for the nine months ended 30 September 2016. Revenue stood at QAR 24 billion (~ $7 billion). Excluding foreign exchange translation impact, revenues would have increased by 2% compared to the reported flat revenue.

Group EBITDA stayed stable at QAR 10 billion ($3 billion) with an improved EBITDA margin of 42%, indicating an improvement
in operational performance. Group net profit to Ooredoo shareholders increased by 4% to QAR 1.8 billion ($490 million) driven by strong contributions from Qatar, Oman, Indonesia, Algeria and Maldives.

Driven by continued strong demand for data: data revenue increased to 39% of the group revenue. Revenue from data contributed QAR 9.4 billion ($2.6 billion) in 9M 2016. Customer base increased by 16% to reach almost 133 million. 4G networks are now available in 8 of Ooredoo’s 10 markets.

In October 2016 Ooredoo Maldives announced plans to offer a portion of its equity for sale to local and international investors.

H.E. 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. We are successfully implementing our digital strategy and delivering world class infrastructure and innovative products, which helped us increase our customer base by 16% to reach a total of almost 133 million. We believe we play a crucial role in connecting and developing the citizens of emerging economies where we operate and are proud to be making good progress in
this area.”

H.E. Sheikh Saud bin Nasser Al Thani, group CEO 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%. Our financial performance has been stable over the course of the past nine months, with a robust group revenue.”

Operational review

Middle East

Ooredoo Qatar

Revenue - QAR 6.0 billion (+1%)
EBITDA - QAR 3.1 billion (flat)
Net Profit - QAR 1.6 billion (+2%)
Customer base - 3.4 million (-1% YoY)

Ooredoo successfully completed the landing of the new high capacity Asia-Africa-Europe-1 (AAE-1) subsea cable system in August 2016. In addition, the company continued to invest and enhance the Qatar Data Centre, which is set to celebrate ten years of operation at the end of the year.

Ooredoo Oman

Customer base - 2.9 million (+6% YoY)
Revenue - QAR 2.0 billion (+8% YoY)
EBITDA - QAR 1.1 billion (+8% YoY)
Net Profit - QAR 356 million (+16% YoY)

Ooredoo Kuwait

Customer base - 2.4 million (flat)
Revenues- QAR 1.8 billion (+ 6% YoY)
EBITDA - QAR 434 million (+ 4% YoY)
Net Profit - QAR 81 million

Asiacell - Iraq

Overall business is still affected by the political and economic situation in the country, a dysfunctional banking system, and VAT impact.

Customer base- (+5% YoY) 11.2 million (on 3G network)
Revenue - QAR 3.2 billion (-15% YoY)
EBITDA- QAR 1.5 billion (-9% YoY) (less impacted due to cost optimisation initiatives)
Net Profit - QAR 79 million

North Africa

Ooredoo Algeria

Customer base - ~14 million (+4% YoY)
The Algerian Dinar depreciated significantly compared with the same period last year, impacting the results reported in QAR.

Revenues - QAR 2.8 billion
EBITDA - QAR 1.0 billion (-11% YoY)
Net Attributable Profit QAR 264 million compared to a Net

Ooredoo – Tunisia

Customer base- 7.8 million (+ 4% YoY)

The Tunisian economy remains subdued and affected by lower levels of tourism and the QAR results are impacted by the depreciation of the Tunisian Dinar.

Revenues- QAR 1.3 billion
EBITDA - QAR 504 million
Net Attributable Profit - QAR 52 million

Asia

Indosat Ooredoo – Indonesia

Revenue - (+10% YoY) QAR 5.9 billion
EBITDA- (+10% YoY) QAR 2.7 billion
Net Profit - QAR 259 million
Customer base- 80 million (+18% YoY)

Net profits reflect continued operational improvements, revenue growth, lower interest expenses and a stabilisation of the Indonesian Rupiah. Indosat Ooredoo has made investments in strategic population areas of Indonesia, with 4G coverage now reaching almost 100 cities .

Ooredoo Myanmar

customer base- 8.8 million (+84% YoY)
Revenue- QAR 1.1 billion (+41% YoY)

Network coverage now extends to more than 85% of the Myanmar population with growth supported by penetration of data devices in the market, with the launch of additional affordable 3G handsets and the introduction of 4G in May 2016.

Ooredoo Myanmar further reduced the EBITDA loss by 76% in 9M 2016 to reach negative QAR 7.0 million, a significant improvement from an EBITDA loss of QAR 30 million in 9M 2015.

 

 

 

 

 

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