Ooredoo Group has registered a 22% increase in half yearly net profit to QR841mn, “partially aided by a favourable Foreign Exchange (FX) environment and offset by a negative IFRS16 impact on net profit in H1, 2019”.
Group EBITDA for H1, 2019 increased by 2% year-on-year to QR6.3bn with a corresponding EBITDA margin of 44% supported by a positive impact from the new IFRS 16 accounting standards.
Half yearly revenue stood at QR14.5bn, a decline of 4% compared to the same period last year, “impacted by an industry-wide shift from voice services to data services, as well as macroeconomic and currency weakness in some of our markets.”
Increased monetisation of data business, with significant data growth coming from consumer and enterprise customers saw data revenue increase to 52% of the Group revenue. Revenue from data contributed QR7.5bn, Ooredoo said.
The group customer base stood at 115mn and increased sequentially by 2.7mn as Indosat Ooredoo reversed its trend and attracted new customers. Ooredoo continues to be a data leader in its markets with 4G networks now available in eight of Ooredoo’s 10 markets, while 5G is available in Qatar and Kuwait.
On the results, Ooredoo Group chairman HE Sheikh Abdulla bin Mohamed bin Saud al-Thani said, “We are making excellent progress with our digital strategy, whilst effectively managing our costs and overheads to support the growth of our business and long-term shareholder value generation. 
“Ooredoo Group reported a solid set of results for the first half of the year with revenue of QR14.5bn and a 22% increase in net profit despite the pressure in the operating environment in our markets and industry challenges associated with the decline in voice revenues.
“We remain focused on providing reliable connectivity and innovative products to our customers and are proud to be at the forefront of the global 5G revolution. In our home market in Qatar, we now have around ‘100 live 5G sites’ as we prepare our network to cater to the future needs of our customers. We are proud to play our role in facilitating a tremendous opportunity that 5G will bring to people and business and have now launched a commercial 5G network in Kuwait as well.”
Ooredoo Group chief executive officer Sheikh Saud bin Nasser al-Thani said, “During the period we invested further into our networks while at the same time improving the profitability of the company.
“Indosat Ooredoo, our second biggest market in terms of contribution to revenues, continues to turn around its business delivering robust growth across the board. This was underpinned by our strategic refresh designed to create a more loyal customer base with lower churn rates, following the implementation of regulation for SIM card registration. As a result Indosat Ooredoo reversed the trend and started to add new customers again.
“In Oman we grew our customer base by 5% as we launched exciting new features through our AI powered chatbot, whilst in Myanmar our customer base surged 19% despite increased competition from a fourth telecommunications operator. In Kuwait, we launched 5G and we substantially grew our EBITDA supported by careful execution of our cost optimisation initiatives and enhanced operational efficiency. In Algeria, our data traffic more than doubled year on year, as we extended our 4G coverage to 58% of the population.
“Looking ahead we remain optimistic about the opportunities available to Ooredoo Group, as the telecommunications industry transitions towards a more digital model. We believe that we have made the right investments and strategy to ensure long term value for our shareholders, customers and countries we operate in.”

Ooredoo Qatar customer base ‘remains stable’ at 3.3mn
Ooredoo Qatar continued to hold a “strong leadership” position at the end of the first half in June, with both fixed line and mobile networks ranking among the “fastest” globally.
Reported revenue was slightly lower at QR3.7bn (H1 2018: QR3.9bn), due to a fall in handset sales while EBITDA increased to QR2.1bn (H1, 2018: QR2bn).
Ooredoo’s customer base in Qatar “remained stable” at 3.3mn.
Ooredoo Qatar said it “leveraged its strong sporting heritage” to extend its 5G leadership position during the period, conducting 5G trials with a ‘Virtual Stadium’ at Mall of Qatar and deploying a 5G-connected ambulance for the final of the Amir Cup in May.
The company now has around 100 live 5G sites.
Ooredoo Qatar launched Ooredoo Sports, an innovative conversational Artificial Intelligence (AI) platform for sports fans that leverages AI and Augmented Reality technologies, and announced a two-year sponsorship of Qatar’s national football team.
The company deployed a diverse range of Internet of Things (IoT) solutions during the period and enabled the digital transformation of several leading organisations through partnerships and the launch of a new portfolio of business Internet services offering enhanced speeds, security and additional value.