Chairman Sheikh Abdullah:  Ooredoo has produced solid revenue, profitability and customer growth for the first half of 2014 against a backdrop of challenges in some of our markets.

Driven by higher consumption of data-based services and customer growth in operating countries, Ooredoo Group posted a half-yearly net profit of QR1.7bn.

Group revenue stood at QR16.5bn in first half of this year, down 3% on the same period last year, which Ooredoo said was impacted by decline in revenue  in Indonesia, Kuwait and Iraq. Excluding the impact of the Indonesian Foreign Exchange, the group revenue would have increased by 1%, Ooredoo said.

Strong performances were seen in Qatar, Oman and Algeria in terms of revenue growth.

Data revenue reached 20% of total group revenue as customers increasingly consumed data-based services.

The group saw a customer growth of 2% to 93.9mn in the first half of this year as the company “captured an increasing share of its markets through best-in-class telecoms services”.

The first half of this year also saw a strategic partnership with Rocket Internet to develop online businesses in Asia.

Ooredoo Group said it continued to invest in its start-up operation in Myanmar and its recovery strategy in Ooredoo Kuwait. Its Asiacell has been impacted by the current insurgency in Iraq

Ooredoo Qatar delivered strong results during the period, with revenue growth driven in particular by an increased focus on business services and the on-going development of the data market. 

Revenue was up by 9% year-on-year to QR3.5bn (QR3.2bn in H1, 2013) while EBITDA (earnings before interest, tax, depreciation and amortisation) performance showed a healthy increase of 9% year-on-year to QR1.74bn.

In Qatar,  Ooredoo customers increased by 9% to 2.99mn (H1, 2013: 2.8mn) – almost reaching the 3mn consolidated customer milestone for the first time in the company’s history.

As Ooredoo Qatar continued to pursue its strategy to make the country one of the best-connected in the world, the company achieved several  milestones in the period. The company installed its 500th LTE site, delivering nationwide coverage for Qatar’s first and fastest 4G LTE service. In addition, the #OoredooSmart campaign saw the revamp of the full range of Ooredoo Qatar’s data portfolio, ensuring the company holds a leadership position in the provision of data services.

Also in the period, Ooredoo Qatar increased its total number of fibre service customers to 150,000 and continued to enhance its portfolio of business solutions. The opening of the Ooredoo Advanced Smart Innovative Solutions (OASIS) lab in Doha provided a national hub for innovation while the Ooredoo Data Centre received a number of accolades and important certification from global institutions.

Ooredoo Group chairman  Sheikh Abdullah bin Mohamed bin Saud al-Thani said that Ooredoo had produced “solid revenue, profitability and customer growth for the first half of 2014 against a backdrop of challenges in some of our markets”. 

He said: “Our strategy is based on the enormous positive power of global connectivity which Ooredoo is delivering across its markets through its continued investment in world-leading broadband networks and services.  With the right level of investment, we can continue to transform people’s lives in markets from Algeria to Myanmar, attracting growing numbers of customers to our global network.”

Ooredoo Group CEO Dr Nasser Marafih said “Ooredoo’s results for the first half of 2014 reflected “our commitment to investment across our markets to ensure we are building a global platform of growth that will generate customer and shareholder
value over the long term”. 

He said: We are making great progress in developing revenues from our core areas of growth: data and B2B.  Our data revenue has reached 20% of total revenue across the group demonstrating both the demand for data and our ability to deliver to our customers, wherever they are. 

“Costs are being managed proactively across the group and we are evaluating all opportunities to share infrastructure with competitors and partners to ensure we are competing from a highly efficient cost base.  The investment in our network capability and brand continues to help Ooredoo define and differentiate itself against its competitors as customers buy and access an increasing range of our services.  With the investment we are making this year, we are confident that Ooredoo will be well set to deliver future value for its shareholders and customers.”