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Tribune News Network
Doha
Telecom major Ooredoo Group on Sunday announced that the company’s revenue declined by 4 percent year-on-year to QR28.9 billion in 2020, due to the COVID-19 pandemic impact, a reduction in handset sales and roaming business as well as macroeconomic weakness in some of its markets.
This was partially offset by growth in Indonesia, Myanmar and Palestine, the company said in a statement.
The company’s EBITDA declined by 6 percent year-on-year to QR12.1 billion in 2020, impacted by lower revenues and challenging market conditions across most markets.
The company maintains its focus on digitalisation and cost optimisation, which has been reflected in a healthy EBITDA margin of 42 percent for 2020.
Group net profit attributable to Ooredoo shareholders decreased by 35 percent year-on-year to QR1.1 billion in 2020 mainly due to lower EBITDA and one off gains in 2019 from the Indonesian tower sales.
In the fourth quarter of 2020, the net profit was negatively impacted by foreign exchange losses mainly due to the devaluation of the Iraqi dinar and a one off impairment from an investment.
Data revenues accounted for more than 50 percent of total revenue driven by the company’s data leadership and digital transformation initiatives across the countries.
Ooredoo Group maintains healthy cash reserves and liquidity levels, and with a net profit of QR1.1 billion, the board recommends the distribution of a cash dividend of QR0.25 per share.
Ooredoo Group expanded its customer base by 3 percent to 121 million customers, boosted by additions in Iraq, Indonesia and Myanmar.
Ooredoo Group reinforced its leadership as a digital enabler becoming the first operator to launch prepaid 5G internet in Kuwait, while in Tunisia it registered the fastest 4G mobile data speeds in the country.
Commenting on the results, Ooredoo Chairman Sheikh Faisal Bin Thani Al Thani said, “Ooredoo Group demonstrated the resilience of its operations in 2020, delivering a net profit of QR 1.1 billion, maintaining healthy cash reserves and liquidity levels, and expanding its customer base despite of the challenging environment. 2020 was a year unlike any other, which disrupted lives and challenged organisations. I am proud of the role that we played in keeping communities connected and the economy moving. Our focus on innovation and digitisation has enabled us to seamlessly serve our customers through our digital channels while allowing our staff to work from home in a safe and productive manner.”
“The global pandemic will have a lasting impact on customer expectations and the way people use technology. Ooredoo Group continues to invest in its digital transformation strategy and network capabilities to meet the evolving need of our customers and to help them unlock the true value of new technologies. I am pleased to announce that the Board of Directors will recommend the distribution of a cash dividend of QR0.25 per share at the annual general meeting in March 3, 2021,” Sheikh Faisal said.
Also commenting on the results, Ooredoo Managing Director Aziz Aluthman Fakhroo said, “I am pleased to report a solid financial performance across our operations, in spite of the COVID-19 pandemic and the challenging macro-economic environment. Group revenues were QR28.9 billion in 2020, down 4 percent compared to the previous year, due to macroeconomic weaknesses in some of our markets. Throughout the year, we remained focused on our cost optimisation strategy, which enabled us to maintain a robust EBITDA margin of 42 percent in 2020. EBITDA during the year was QR 12.1 billion, down slightly from QR12.8 billion in the previous year due to the decline in revenues. Net profit for the year declined to QR1.1 billion, mainly due to lower EBITDA and to one off gains from the Indonesian tower sales in 2019.”
“Ooredoo Qatar provided a solid performance in 2020 growing its customer base at strong EBITDA margin, despite a range of challenges caused by COVID-19. Indosat Ooredoo delivered a strong performance with revenues and EBITDA increasing year on year by 4 percent and 11 percent, respectively while Ooredoo Myanmar’s market leading infrastructure supported an increase in revenues, EBITDA and a 28% increase in its customer base,” Fakhroo said.
“Ooredoo Tunisia reaffirmed its position as the number one telecom player by customer market share. Ooredoo Group continues to witness strong demand for its product and services, as demonstrated by the 3 percent increase in our customer base to 121 million during these challenging times, supported by strong customer growth in Myanmar, Indonesia and Iraq,” Fakhroo said.
Ooredoo Qatar delivered a solid performance in 2020, despite a range of challenges caused by the COVID-19 pandemic. Reported revenue stood at QR7 billion, down 3 percent mainly as a result of the pandemic.
EBITDA was QR3.7 billion, 7 percent below 2019. Following service disruption during the period, customers were provided with a 50 percent discount on mobile bills as compensation, impacting fourth quarter results. Customer numbers were 3.3 million by year-end in line with 2019, with the mobile customer base growing by 1 percent and the postpaid base growing by 10 percent compared to fourth quarter in 2019.
Ooredoo Oman’s results were impacted by lockdowns and movement restrictions designed to contain the spread of the COVID-19 pandemic. Revenues declined 7 percent to QR 2.5 billion in 2020 compared to the previous year.
Ooredoo Kuwait’s results were impacted by softening macroeconomic conditions as a result of the COVID-19 pandemic as well as intense market competition. The company’s revenues declined 10% to QAR 2.5 billion in 2020 compared to the previous year. Sequentially, revenues increased 6% in Q4 2020 compared to the previous quarter, reflecting the initial stages of a recovery.
Algeria continued to suffer from a weak macroeconomic environment, exacerbated by the COVID-19 pandemic, intense price competition and the 5 percent year on year depreciation of the Algerian Dinar.
Ooredoo Algeria reported revenue of QR2.3 billion in 2020, down 10 percent compared to the previous year. Sequentially, the company recorded revenue growth, reflecting the initial stages of a recovery as movement restrictions eased and commercial activity resumed.
Ooredoo Algeria’s customer base was 12.5 million in 2020 compared to 12.6 million in the previous year.
Despite challenging macroeconomic conditions as a result of the COVID-19 pandemic, Ooredoo Tunisia reported revenue growth of 3 percent to QR1.5 billion, compared to the previous year.
The company reported EBITDA of QR650 million in 2020, down 5 percent compared to 2019, as billing and collection cost increased as a result of a slowing economy. The company’s focus on efficiency and cost optimization supported healthy EBITDA margins of 43 percent in 2020.
Ooredoo Tunisia’s customer base in 2020 was 8.1 million, reaffirming its position as the number one telecom player by customer market share while the company continued its network dominance by registering the fastest 4G mobile data speeds in the nation.
Indosat Ooredoo delivered a strong set of result in 2020, underpinned by its strategy to offer simple, relevant, and transparent products. The company reported revenue of QR7 billion in 2020, up 4 percent compared to the previous year.
The company’s investments in digitisation and ongoing cost optimisations supported the expansion of its EBITDA margin to 46 percent in 2020 compared to 43 percent in 2019. EBITDA increased 11 percent to QR3.2 billion in 2020 compared to last year.
Doha
Telecom major Ooredoo Group on Sunday announced that the company’s revenue declined by 4 percent year-on-year to QR28.9 billion in 2020, due to the COVID-19 pandemic impact, a reduction in handset sales and roaming business as well as macroeconomic weakness in some of its markets.
This was partially offset by growth in Indonesia, Myanmar and Palestine, the company said in a statement.
The company’s EBITDA declined by 6 percent year-on-year to QR12.1 billion in 2020, impacted by lower revenues and challenging market conditions across most markets.
The company maintains its focus on digitalisation and cost optimisation, which has been reflected in a healthy EBITDA margin of 42 percent for 2020.
Group net profit attributable to Ooredoo shareholders decreased by 35 percent year-on-year to QR1.1 billion in 2020 mainly due to lower EBITDA and one off gains in 2019 from the Indonesian tower sales.
In the fourth quarter of 2020, the net profit was negatively impacted by foreign exchange losses mainly due to the devaluation of the Iraqi dinar and a one off impairment from an investment.
Data revenues accounted for more than 50 percent of total revenue driven by the company’s data leadership and digital transformation initiatives across the countries.
Ooredoo Group maintains healthy cash reserves and liquidity levels, and with a net profit of QR1.1 billion, the board recommends the distribution of a cash dividend of QR0.25 per share.
Ooredoo Group expanded its customer base by 3 percent to 121 million customers, boosted by additions in Iraq, Indonesia and Myanmar.
Ooredoo Group reinforced its leadership as a digital enabler becoming the first operator to launch prepaid 5G internet in Kuwait, while in Tunisia it registered the fastest 4G mobile data speeds in the country.
Commenting on the results, Ooredoo Chairman Sheikh Faisal Bin Thani Al Thani said, “Ooredoo Group demonstrated the resilience of its operations in 2020, delivering a net profit of QR 1.1 billion, maintaining healthy cash reserves and liquidity levels, and expanding its customer base despite of the challenging environment. 2020 was a year unlike any other, which disrupted lives and challenged organisations. I am proud of the role that we played in keeping communities connected and the economy moving. Our focus on innovation and digitisation has enabled us to seamlessly serve our customers through our digital channels while allowing our staff to work from home in a safe and productive manner.”
“The global pandemic will have a lasting impact on customer expectations and the way people use technology. Ooredoo Group continues to invest in its digital transformation strategy and network capabilities to meet the evolving need of our customers and to help them unlock the true value of new technologies. I am pleased to announce that the Board of Directors will recommend the distribution of a cash dividend of QR0.25 per share at the annual general meeting in March 3, 2021,” Sheikh Faisal said.
Also commenting on the results, Ooredoo Managing Director Aziz Aluthman Fakhroo said, “I am pleased to report a solid financial performance across our operations, in spite of the COVID-19 pandemic and the challenging macro-economic environment. Group revenues were QR28.9 billion in 2020, down 4 percent compared to the previous year, due to macroeconomic weaknesses in some of our markets. Throughout the year, we remained focused on our cost optimisation strategy, which enabled us to maintain a robust EBITDA margin of 42 percent in 2020. EBITDA during the year was QR 12.1 billion, down slightly from QR12.8 billion in the previous year due to the decline in revenues. Net profit for the year declined to QR1.1 billion, mainly due to lower EBITDA and to one off gains from the Indonesian tower sales in 2019.”
“Ooredoo Qatar provided a solid performance in 2020 growing its customer base at strong EBITDA margin, despite a range of challenges caused by COVID-19. Indosat Ooredoo delivered a strong performance with revenues and EBITDA increasing year on year by 4 percent and 11 percent, respectively while Ooredoo Myanmar’s market leading infrastructure supported an increase in revenues, EBITDA and a 28% increase in its customer base,” Fakhroo said.
“Ooredoo Tunisia reaffirmed its position as the number one telecom player by customer market share. Ooredoo Group continues to witness strong demand for its product and services, as demonstrated by the 3 percent increase in our customer base to 121 million during these challenging times, supported by strong customer growth in Myanmar, Indonesia and Iraq,” Fakhroo said.
Ooredoo Qatar delivered a solid performance in 2020, despite a range of challenges caused by the COVID-19 pandemic. Reported revenue stood at QR7 billion, down 3 percent mainly as a result of the pandemic.
EBITDA was QR3.7 billion, 7 percent below 2019. Following service disruption during the period, customers were provided with a 50 percent discount on mobile bills as compensation, impacting fourth quarter results. Customer numbers were 3.3 million by year-end in line with 2019, with the mobile customer base growing by 1 percent and the postpaid base growing by 10 percent compared to fourth quarter in 2019.
Ooredoo Oman’s results were impacted by lockdowns and movement restrictions designed to contain the spread of the COVID-19 pandemic. Revenues declined 7 percent to QR 2.5 billion in 2020 compared to the previous year.
Ooredoo Kuwait’s results were impacted by softening macroeconomic conditions as a result of the COVID-19 pandemic as well as intense market competition. The company’s revenues declined 10% to QAR 2.5 billion in 2020 compared to the previous year. Sequentially, revenues increased 6% in Q4 2020 compared to the previous quarter, reflecting the initial stages of a recovery.
Algeria continued to suffer from a weak macroeconomic environment, exacerbated by the COVID-19 pandemic, intense price competition and the 5 percent year on year depreciation of the Algerian Dinar.
Ooredoo Algeria reported revenue of QR2.3 billion in 2020, down 10 percent compared to the previous year. Sequentially, the company recorded revenue growth, reflecting the initial stages of a recovery as movement restrictions eased and commercial activity resumed.
Ooredoo Algeria’s customer base was 12.5 million in 2020 compared to 12.6 million in the previous year.
Despite challenging macroeconomic conditions as a result of the COVID-19 pandemic, Ooredoo Tunisia reported revenue growth of 3 percent to QR1.5 billion, compared to the previous year.
The company reported EBITDA of QR650 million in 2020, down 5 percent compared to 2019, as billing and collection cost increased as a result of a slowing economy. The company’s focus on efficiency and cost optimization supported healthy EBITDA margins of 43 percent in 2020.
Ooredoo Tunisia’s customer base in 2020 was 8.1 million, reaffirming its position as the number one telecom player by customer market share while the company continued its network dominance by registering the fastest 4G mobile data speeds in the nation.
Indosat Ooredoo delivered a strong set of result in 2020, underpinned by its strategy to offer simple, relevant, and transparent products. The company reported revenue of QR7 billion in 2020, up 4 percent compared to the previous year.
The company’s investments in digitisation and ongoing cost optimisations supported the expansion of its EBITDA margin to 46 percent in 2020 compared to 43 percent in 2019. EBITDA increased 11 percent to QR3.2 billion in 2020 compared to last year.
