Sheikh Abdullah and Marafih: Growth momentum to continue.
Ooredoo has reported a 28% jump in its first-half net (H1) profit to QR1.73bn.
The group’s consolidated revenue rose 5% to QR17.14bn, fuelled by strong performances both in Qatar and across its international operations, particularly in Algeria, Indonesia and Iraq.
The group EBITDA (earnings before interest taxes depreciation and amortisation) decreased by 1.7% to QR7.66bn. EBITDA margin at the end of H1 2013 was 45%.
“Our strong revenue performance has continued as planned, driven by further market share gains and closer customer engagement across some of our key markets. And now, we stand ready to enter our newest market, Myanmar, following the award of the licence there last month,” Ooredoo chairman Sheikh Abdullah bin Mohamed bin Saud al-Thani said.
“We take a targeted, sensible and strategic approach to acquisitions, pursuing only those that serve the best interests of the group and that generate value from the investments we make. We look to the second half of the year with confidence that our growth momentum will continue,” according to Ooredoo Group CEO Nasser Marafih.
Qatar continued to play a pioneering role within the group, producing a strong set of results as domestic revenues grew by 4.7% to QR3.2bn with a consolidated customer base of 2.75mn. EBITDA fell 2.8% to QR1.60bn.
On Indonesian operations, Ooredoo said Indosat’s consolidated customer base stood at 56.6mn. Revenue grew by 6.8% to QR4.38bn while EBITDA was down 0.4% to QR2.09bn.
Its Wataniya Telecom - which encompasses the group’s businesses in Kuwait, Tunisia, Algeria, Saudi Arabia, Maldives and Palestine - reported a marginal 0.6% rise in revenue to QR4.86bn whereas EBITDA fell to QR1.94bn.
In Oman, Nawras’ consolidated customer base stood at 2.3mn customers with revenue of QR969mn. Its EBITDA stood at QR443mn.
About its Iraq operations, Ooredoo said Asiacell delivered revenue of QR3.50bn, representing a growth of 5.3%. EBITDA was slightly up 1.2% to QR1.86bn.