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Tribune News Network
Doha
Driven by strong contributions from Iraq, Kuwait, Tunisia, Palestine and Myanmar, Ooredoo Group on Wednesday reported revenue of QR7.8 billion for the first quarter ending March 31, 2018.
Ooredoo Qatar reported revenue of QR2 billion, and EBITDA (earnings before interest, tax, depreciation and amortization) of QR955 million. Lower mobile voice and roaming revenues were partially offset by sales of Ooredoo TV and devices, reflecting the strong market appetite for new technology in Qatar, the company said in a statement
The customer numbers stood at 3.3 million, following a concerted effort to clear-up customer records and remove inactive SIMs from the market.
Group net profit attributable to Ooredoo shareholders decreased by 17 percent to QR486 million.
The positive performance in Iraq and Myanmar was offset by market challenges in Indonesia and Algeria, the statement said.
The Group EBITDA stood at QR3 billion with a corresponding EBITDA margin of 39 percent.
Increased monetisation of mobile data business saw data revenue increase to 43 percentof Group revenue. Revenue from data contributed QR3.3 billion in Q1 2018.
Customer base remained solid, increasing 1 percent year-on-year to more than 150 million, driven by multiple customer acquisition activities in Iraq, Tunisia, Maldives and Palestine.
Ooredoo continues to be a data leader in its markets with 4G networks now available in 8 of Ooredoo's 10 markets.
In Palestine, Ooredoo subsidiary Wataniya Mobile made exceptional progress in customer acquisitions with the launch of its West Bank 3G network in January 2018, following the launch of services in the Gaza strip in October 2017. Customer base increased by 55 percent to more than 1.2 million at the end of March 2018.
Ooredoo Chairman Sheikh Abdulla bin Mohammed bin Saud al Thani, said,"The start of 2018 saw good performances in some of our markets, however challenging market conditions and new regulations impacted the overall performance of the Group.
"We maintained our pioneering position in providing customers with the latest telecom services and digital solutions. We are proud to serve more than 150 million people."
Ooredoo Group CEO Sheikh Saud bin Nasser al Thani said,"The first quarter of 2018 saw a mixed set of results across our operations, with strong performances in Iraq, Kuwait, Tunisia, Palestine and Myanmar being more than offset by challenging market conditions in our biggest market in Indonesia and also in Algeria.
"Qatar and Indonesia continue to be our biggest contributors to group revenue, with QR2 billion and QR1.5 billion delivered in Q1. Ooredoo Oman maintained a strong market position, while Ooredoo Kuwait reported revenue growth supported by handset sales of 39 percent in Q1 2018.
"Ooredoo Tunisia made good progress with 8 peercent revenue growth in local currency terms, defending its market leadership position.
Asiacell in Iraq is benefitting from a more stable political situation and business returning to the liberated areas, revenue was up by 6 percent. In Algeria we sustained our mobile data leadership and continued to deploy the 4G network across the country. In Myanmar we delivered record revenues and EBITDA."
