23/02/2017 07:30 AST
Driven by strong contributions from Qatar and certain other markets, the Ooredoo Group posted a net profit of QR2.2bn in 2016, up 4% on the previous year.
Group revenue stood at QR33bn, an improvement of 1% over 2015.
Ooredoo Qatar delivered positive results in Qatar in 2016, demonstrating data leadership, sustaining customer numbers and delivering growth in revenue and EBITDA.
Revenue grew 1% to QR8bn compared with 2015's QR7.9bn, while EBITDA increased by 1% to QR4bn.
In local currency terms, growth was driven by Ooredoo Qatar, Oman, Kuwait, Algeria, Tunisia, Indosat Ooredoo and Myanmar. Excluding foreign exchange translation impact, revenues would have increased by 2% year-on-year instead of the reported 1%.
Revenue from data contributed QR13bn to the group's total with continued strong data growth seen among both consumer and enterprise customers. Group B2B revenue increased by 6% to QR5.5bn, reflecting Ooredoo's ongoing investment in services for business customers.
Group earnings per share stood at QR6.84 in 2016, compared to QR6.61 in 2015, Ooredoo said last night.
Customer base increased by 19% to reach 138mn driven by strong growth in Indosat Ooredoo, Myanmar, Oman, Iraq, Tunisia, Kuwait, Algeria.
Ooredoo Qatar completed one of the region's first 5G mobile trials and tested a number of practical applications with advanced network power, which can support 'Internet of Things' solutions. Ooredoo Qatar's B2B segment is steadily growing, with a number of strategic partnership and agreements signed.
Ooredoo chairman HE Sheikh Abdulla bin Mohamed bin Saud al-Thani said, "Ooredoo has delivered good value for its shareholders in 2016, with growth in revenues, EBITDA, net profit and customer numbers. 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. We strengthened our service offering and delivered world-class infrastructure, connecting 138mn people to a better future.
"We are the first telecom provider to launch 4G services in several of our markets, with eight of our operations now operating 4G networks. Some of our operations are already generating the majority of their revenues from data services.
"Looking ahead to 2017, we are confident in our growth prospects and we 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 fulfilment of the Qatar National Vision 2030.
On behalf of the board of directors, I am pleased to recommend to the General Assembly the distribution of a cash dividend of QR3.5 per share (35% of the nominal share value)."
Group chief executive officer Sheikh Saud bin Nasser al-Thani said, "Our financial performance has been positive over the course of the past twelve months, with a healthy group revenue of almost QR33bn and a robust group net profit attributable to shareholders of QR2.2bn, driven by strong contributions from Ooredoo Qatar, Oman and Indosat Ooredoo. Our focus on efficiencies delivered an improved group EBITDA margin of 41%."
Both Ooredoo Qatar and Ooredoo Oman displayed growth in terms of Revenue, EBITDA and net profit underpinned by market leading digital products, strong customer service and smart marketing initiatives.
Gulf Times
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