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Tribune News Network
Doha
Ooredoo Group has posted a nine-month net profit of QR1.5 billion, up 16 percent from the same period last year.
The significant jump in net profit was on the back of a more favourable foreign exchange environment.
The telecom major earned QR21.4 billion revenue in the first nine-months of 2020, although it represented a decline of 3 percent compared to the same period last year.
The revenue was impacted by a reduction in handset sales and roaming business as well as macroeconomic weakness in some of Ooredoo’s markets due to the COVID-19 pandemic. This was partially offset by growth in Indonesia.
Lower revenues and higher cost of sales as well as challenging market conditions in Algeria, Kuwait, Iraq and Oman has shrunk the group’s EBITDA declined by 4 percent year-on-year to QR9.2 billion at the end of September 30, 2020.
The group’s customer base stood at 119 million, up 3 percent, driven by new customers in Indonesia and Myanmar.
Ooredoo Oman’s mobile wallet, Pay+, developed in conjunction with National Bank of Oman and Asiacell’s new mobile app, which has become the most downloaded app by a telecom operator in Iraq.
Ooredoo Group launched a number of initiatives to support the communities in most need of assistance during the pandemic public health crisis, with a focus on the medical and education sectors. Initiatives included donating ventilators, defibrillators, patient monitors and other emergency medical equipment to hospitals in Myanmar; donating laptops to students and providing access to online education portals and app-based learning solutions in Oman and Algeria; as well as targeted customer relief packages and support, featuring complimentary data and bill payment flexibility across several markets.
“Ooredoo Group has been fortunate to have a well-diversified business - across geography and customer composition - in addition to a strong balance sheet, which has helped us maintain resilience during these challenging times,” said Chairman Sheikh Faisal bin Thani Al Thani.
“Digital transformation continues to be a key value driver for our business. Our leadership in this area enabled us to seamlessly respond to the new operating environment and serve our customers in a safe and convenient way, in spite of the movement restrictions. We expanded our customer base with the launch of new products such as Ooredoo Oman’s mobile wallet, Pay+, and Asiacell’s new mobile app which has become the most downloaded app by a telecom operator in Iraq.
“For the communities we operate in, we launched a number of initiatives to provide support to medical centres through donation of medical equipment, and for students, we provided free data and e-learning platforms to support remote learning,” he added.
Sheikh Saud bin Nasser Al Thani, Group Chief Executive Officer of Ooredoo said, “Ooredoo Group reported a healthy set of results, despite challenging circumstances due to the COVID-19 pandemic.”
Indosat Ooredoo reported revenue growth of 6 percent as it implemented its strategy of offering simple, relevant, and transparent products, he said, adding that Ooredoo Kuwait experienced revenue growth in Q3 over Q2 2020. While, Ooredoo Algeria showed signs of an improved market situation in the recent months, Ooredoo Oman increased 5G coverage further. he said. Asiacell is preparing for the launch of LTE in 2021 and Ooredoo Tunisia improved its mobile data leadership position and in home market in Qatar, Ooredoo improved revenue sequentially and year on year in Q3, he noted.
“We continued to focus of optimising our cost base to absorb some of the pressure from the decline in revenues. For the first nine months of 2020, Group EBITDA declined 4 percent to QR9.2 billion, compared to the same period last year, due the decline in revenues. However, Group net profit increased 16 percent during the same period, benefitting from FX gains in certain markets,” Sheikh Saud said.
“Ooredoo Group continues to witness strong demand for its product and services, as demonstrated by the 3 percent increase in our customer base to 119 million during these challenging times, supported by strong customer growth in Indonesia and Myanmar.”
In Qatar, group said it focused on growth and strengthened its leadership position in the face of a range of challenges caused by COVID-19 pandemic.
While roaming revenue continued to be impacted by global travel restrictions, the company saw positive returns from fixed and ICT services in particular.
Ooredoo Qatar reported a nine-month revenue of QR5.3 billion against QR5.4 billion in the same period last year. EBITDA stood at 2.9 billion against QR3 billion last year. Total customers reached 3.3 million, up 2.7 percent year-on-year, with the mobile customer base growing by 3.2 percent, and the postpaid customer base increasing 2.8 percent.
Nine-month EBITDA margin sustained its positive trend at 55 percent, against 56 percent in 2019.
EBITDA was strengthened by a range of cost optimisation measures, including franchising shops, re-negotiating major content deals, and an increased focus on digitisation and related programmes.
The launch of Ooredoo ONE ‘All-In-One’ Home Service comprising TV, home broadband and landline triple play extended the range of home entertainment options for the community and contributed to customer growth for Ooredoo tv of 2 percent year-on-year.
Ooredoo Qatar’s network enhancement programme ensured network and telecom support and readiness for quarantine centres and hubs as required. More than 463,000 homes across the country are now connected to Ooredoo Fibre.
Doha
Ooredoo Group has posted a nine-month net profit of QR1.5 billion, up 16 percent from the same period last year.
The significant jump in net profit was on the back of a more favourable foreign exchange environment.
The telecom major earned QR21.4 billion revenue in the first nine-months of 2020, although it represented a decline of 3 percent compared to the same period last year.
The revenue was impacted by a reduction in handset sales and roaming business as well as macroeconomic weakness in some of Ooredoo’s markets due to the COVID-19 pandemic. This was partially offset by growth in Indonesia.
Lower revenues and higher cost of sales as well as challenging market conditions in Algeria, Kuwait, Iraq and Oman has shrunk the group’s EBITDA declined by 4 percent year-on-year to QR9.2 billion at the end of September 30, 2020.
The group’s customer base stood at 119 million, up 3 percent, driven by new customers in Indonesia and Myanmar.
Ooredoo Oman’s mobile wallet, Pay+, developed in conjunction with National Bank of Oman and Asiacell’s new mobile app, which has become the most downloaded app by a telecom operator in Iraq.
Ooredoo Group launched a number of initiatives to support the communities in most need of assistance during the pandemic public health crisis, with a focus on the medical and education sectors. Initiatives included donating ventilators, defibrillators, patient monitors and other emergency medical equipment to hospitals in Myanmar; donating laptops to students and providing access to online education portals and app-based learning solutions in Oman and Algeria; as well as targeted customer relief packages and support, featuring complimentary data and bill payment flexibility across several markets.
“Ooredoo Group has been fortunate to have a well-diversified business - across geography and customer composition - in addition to a strong balance sheet, which has helped us maintain resilience during these challenging times,” said Chairman Sheikh Faisal bin Thani Al Thani.
“Digital transformation continues to be a key value driver for our business. Our leadership in this area enabled us to seamlessly respond to the new operating environment and serve our customers in a safe and convenient way, in spite of the movement restrictions. We expanded our customer base with the launch of new products such as Ooredoo Oman’s mobile wallet, Pay+, and Asiacell’s new mobile app which has become the most downloaded app by a telecom operator in Iraq.
“For the communities we operate in, we launched a number of initiatives to provide support to medical centres through donation of medical equipment, and for students, we provided free data and e-learning platforms to support remote learning,” he added.
Sheikh Saud bin Nasser Al Thani, Group Chief Executive Officer of Ooredoo said, “Ooredoo Group reported a healthy set of results, despite challenging circumstances due to the COVID-19 pandemic.”
Indosat Ooredoo reported revenue growth of 6 percent as it implemented its strategy of offering simple, relevant, and transparent products, he said, adding that Ooredoo Kuwait experienced revenue growth in Q3 over Q2 2020. While, Ooredoo Algeria showed signs of an improved market situation in the recent months, Ooredoo Oman increased 5G coverage further. he said. Asiacell is preparing for the launch of LTE in 2021 and Ooredoo Tunisia improved its mobile data leadership position and in home market in Qatar, Ooredoo improved revenue sequentially and year on year in Q3, he noted.
“We continued to focus of optimising our cost base to absorb some of the pressure from the decline in revenues. For the first nine months of 2020, Group EBITDA declined 4 percent to QR9.2 billion, compared to the same period last year, due the decline in revenues. However, Group net profit increased 16 percent during the same period, benefitting from FX gains in certain markets,” Sheikh Saud said.
“Ooredoo Group continues to witness strong demand for its product and services, as demonstrated by the 3 percent increase in our customer base to 119 million during these challenging times, supported by strong customer growth in Indonesia and Myanmar.”
In Qatar, group said it focused on growth and strengthened its leadership position in the face of a range of challenges caused by COVID-19 pandemic.
While roaming revenue continued to be impacted by global travel restrictions, the company saw positive returns from fixed and ICT services in particular.
Ooredoo Qatar reported a nine-month revenue of QR5.3 billion against QR5.4 billion in the same period last year. EBITDA stood at 2.9 billion against QR3 billion last year. Total customers reached 3.3 million, up 2.7 percent year-on-year, with the mobile customer base growing by 3.2 percent, and the postpaid customer base increasing 2.8 percent.
Nine-month EBITDA margin sustained its positive trend at 55 percent, against 56 percent in 2019.
EBITDA was strengthened by a range of cost optimisation measures, including franchising shops, re-negotiating major content deals, and an increased focus on digitisation and related programmes.
The launch of Ooredoo ONE ‘All-In-One’ Home Service comprising TV, home broadband and landline triple play extended the range of home entertainment options for the community and contributed to customer growth for Ooredoo tv of 2 percent year-on-year.
Ooredoo Qatar’s network enhancement programme ensured network and telecom support and readiness for quarantine centres and hubs as required. More than 463,000 homes across the country are now connected to Ooredoo Fibre.
