TeleGeography Logo

Nawras net profit hit by higher depreciation costs, lower EBITDA

30 Jul 2012

Oman’s second national telecoms operator Nawras has announced its unaudited financial results for the three months ended 30 June 2012, posting a 0.7% year-on-year decline in revenue to OMR48.4 million (USD125.4 million) from OMR48.8 million in the year-ago quarter. Turnover for the first six months of 2012 fell 1.7% year-on-year to OMR95.3 million. In a statement to the Muscat Securities Market, the company said that sales were hit by a reduction in SMS revenues which was only partially offset by growth in data revenue. Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled OMR24.1 million in Q2 2012, an increase of 2.1% from OMR23.6 million in the second quarter of 2011, but fell 2.0% in 1H12 to OMR48.2 million, which Nawras said was affected by a lower gross margin due to increase in international traffic and higher leased lines and managed services cost, partially offset by lower general and administration expenses. Net profit meanwhile totalled OMR9.7 million in Q2 2012, down 3.0% from OMR10.0 million in the year-ago quarter, and dropped 11.8% from OMR22.1 million in the first half of 2011 to OMR19.5 million in the corresponding period of 2012, thanks to higher depreciation cost and by lower EBITDA.

Nawras, which is majority owned by Qatar Telecom (Qtel), reported a 4.4% year-on-year increase in its customer base to 2.028 million at 30 June 2012. Of that total, mobile customers accounted for 1.991 million, including 175,469 post-paid subscribers (up 2.6% from 30 June 2011) and 1.815 million pre-paid customers (up 3.3%). Fixed line subscribers totalled 36,787 at the end of the first half of 2012, an increase of 176% compared to twelve months earlier.

Oman, Ooredoo Oman

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.

TeleGeography

TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.