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Sheikh Abdullah and Marafih: ‘Positive financial performance continues ...’ |
Qatar Telecom (Qtel) Group has reported a 12% decline in net profit to QR711.4mn despite growth in revenue and customer base in the first three months of this year.
Net profitability was “adversely impacted” by movement in the Indonesian currency (rupiah) when compared with last year, a Qtel spokesman said, adding excluding this impact, operational growth was in line with Ebitda (earnings before interest taxes depreciation and amortisation) growth.
Revenue and Ebitda grew 8% each to QR8.03bn and QR3.83bn respectively as there was a sustained performance from Iraq, Qatar, Algeria and Tunisia. The Ebitda margin remained robust throughout the period at 48% (Q1 2011: 48%).
“Positions in key markets remained robust, supported by an ongoing focus on service excellence and the continued roll-out of innovative services across the entire footprint. This sustained strategic focus has enabled the group to deliver good revenue,” it said.
The group’s consolidated customer base expanded 12% to 84.4mn.
“In the first three months of 2012, we have maintained our reputation for sustainable, profitable growth, delivering a 7.6% increase in revenue and an 8% increase in Ebitda.
“This positive financial performance continues to be driven by the strength of our in-country operations, the commitment of our operational teams, and the clarity of vision we all share as part of one Qtel Group family,” Qtel chairman Sheikh Abdullah bin Mohamed bin Saud al-Thani said.
“By focusing on the customer experience, strengthening the foundations of our business, and investing in growth, I am confident that we not only understand where future profitable growth for our group can come from, but that we also hold a leadership position in the data, broadband and connectivity arenas that will be key generators of profits in future years,” according to Nasser Marafih, CEO of the Qtel Group.
On the domestic operations, Qtel said its customer base maintained a flat course at 2.4mn; while revenue rose 6% to QR1.5bn and Ebitda by 3% to QR798mn.
Highlighting that market conditions in Indonesia have remained challenging throughout the first quarter of the year, Qtel said Indosat’s customer base increased by 13% to 52.3mn; while revenue was flat at QR2bn but Ebitda grew 4% to QR989.9mn.
Wataniya Telecom encompasses the Qtel Group’s businesses in Kuwait, Tunisia, Algeria, Saudi Arabia, Maldives and Palestine.
In Kuwait, customer base rose 3%, whereas revenue declined 7%. Wataniya domestic Ebitda fell 18% to QR322.1mn. Nedjma in Algeria delivered another excellent performance with revenue increasing by 21% to QR799.6mn.
The number of customers in Tunisia grew 14% to 6.8mn, fuelling revenues by 11% to QR645.9mn, it said, adding Wataniya Mobile Palestine achieved another key milestone, achieving more than half a million customers and increasing revenue by 28% to QR72.5mn.
About its Iraq operations through Asiacell, Qtel said customer base grew 13% to 9.4mn, revenue by 19% to QR1.6bn and Ebitda by 18% to QR915.4mn.
Finding that competitive environment in Oman remain challenging, Qtel said the continued lower SMS usage was only partially offset by increasing VOIP and data growth. Its customer base grew marginally to 2mn; whereas revenue fell 3% to QR461.4mn and Ebitda by 6% to QR228.6mn.