Ooredoo group's net profits increase 4% in 2016

Board of directors recommends a cash dividend of $0.96 per share
Chairman : "In 2017, the focus will be on developing the business into a premier communications company."
Chairman : "In 2017, the focus will be on developing the business into a premier communications company."

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Group net profit to Ooredoo shareholders for 2016 has increased 4% to QAR 2 billion, driven by strong contributions from its various OpCo's, reduced costs at Ooredoo HQ and reduced loss in terms foreign exchange fluctuations. Group earnings per share stood at QAR 6.84 relative to QAR 6.61 in 2015. 40% of the group’s revenues came from data. 4G is available in eight of the Ooredoo markets. There was a 6% rise in B2B revenues.

Standard & Poor’s upgraded Ooredoo’s outlook to “positive" in January 2017.

H.E. Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, chairman of Ooredoo, said: "Fuelled by our ambition to advance from a telecom operator to a leading international communications company, we achieved significant progress in rolling out our strategy in all our markets of operations."

Looking ahead to 2017, he added that the group will focus on 'developing the business into a premier communications company, and diversifying our product offering and revenues'. "We will pursue 5G trials prior to introducing the technology in Qatar, in support of our nation’s efforts to host the FIFA World Cup in 2022, as well as continue to make a strategic contribution to the fulfillment of the Qatar National Vision 2030."

"Our focus on efficiencies delivered an improved group EBITDA margin of 41%," said Sheikh Saud bin Nasser Al Thani, group CEO of Ooredoo.

Operational review:

Middle East

Ooredoo Qatar

Revenue: QAR 8.0 billion (+1% YoY)
EBITDA: QAR 4.0 billion (+1 % YoY)

Launch: a 1Gbps fibre plan; 4K Oooredoo TV
Tests and trials: 10Gbps fibre services, 5G mobile and Voice over LTE services

Ooredoo Oman

Revenue : QAR 2.6 billion (+7% YoY)
EBITDA: QAR 1.4 billion (+ 8% YoY)
Customer base: ~ 3 million (+ 6% YoY)

Ooredoo Kuwait

Customer base: 2.3 million (+3% YoY)
Revenue: QAR 2.4 billion (+5% YoY)
EBITDA: QAR 614 million

Asiacell

Customer base: 12 million (+11% YoY)
Revenue: QAR 4.2 billion (-14% YoY)
EBITDA: QAR 1.9 billion (-10% YoY)

North Africa

Ooredoo Algeria

Customer base: 13.8 million (+6% YoY)
EBITDA: QAR 1.3bn (35% margin)

Ooredoo Tunisia

Customer base: 8.0 million (+6% YoY)
Revenues: QAR 1.7 billion (+ 4% YoY in local currency)
EBITDA: QAR 686 million (40% margin)

 

Summary of results:

Consolidated revenue: QAR 32,503 million (~ $ 9 billion) ( +1% YoY)
EBITDA: QAR 13,379 million (~ $3.7 billion) (+3% YoY)
EBITDA margin: 41%
Net profit: QAR 2,193 million (~ $602 million) (+4% YoY)
Customer base: 138 million ( +19% YoY)


 

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