Sheikh Abdullah Bin Mohammed Al-Thani
Ooredoo posts $221m net profit for Q1
Doha, May 1, 2013
Ooredoo (formerly Qatar Telecom), the leading telecom operator in Qatar, has posted a net profit of QR808 million ($221.7 million) for the first quarter (Q1) of the year as against QR711 million for the same period last year, marking a rise of 13.6 per cent.
Group revenue growth of 5.2 per cent was driven by strong performance in the Group’s home market of Qatar, in addition to further strong momentum from international Group operations in Algeria, Indonesia and Iraq, a company statement said.
During the first three months of 2013 Group revenue grew by 5.2 per cent year-on-year to QR8.4 billion, as compared to QR8 billion in Q1 2012. Earnings per share in Q1 2013 stood at QR2.52.
As at March 31, the Group’s consolidated customer base stood at 91 million, representing year-on-year growth of 7.7 per cent.
Group EBITDA in the period decreased by 3.1percent year-on-year to stand at QAR 3.7billion (Q1 2012: QAR 3.8 billion). EBITDA margin at the end of Q1was 44 per cent, as against 48 per cent at the end of the first quarter of 2012.
Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, chairman of Ooredoo said: “We have started 2013 with strong momentum across many of our key markets leading to solid revenue performance in Q1.
“We see positive developments in customers and usage in mobile data and broadband services in line with our strategic focus. Our re-brand to Ooredoo has been an inspiration and we are proud to have taken the first step to unify our Companies under a single, dynamic brand which ties Ooredoo and our customers’ ambitions ever closer together.”
Dr Nasser Marafih, Group chief executive officer of Ooredoo said: “As a Group we continue to witness key developments across the different countries in which we operate. We are introducing next generation networks and data services.
“Our customers are demanding on-line access to services on their smartphones and we are determined to meet and exceed their expectations. We believe these enhancements present us with a number of growth opportunities and are excited about the prospects for the Group in the year ahead as we continue to put our customer needs first.” – TradeArabia News Service