Ooredoo’s Q1 EBITDA falls 3.1% on 5% revenue increase

1 May 2013

Qatar Telecom (Ooredoo) has posted a 13.6% year-on-year rise in first-quarter net profit to QAR808 million (USD221.8 million), on a 5% increase in consolidated revenues to QAR8.4 billion, driven mainly by improved performance from full-service operations in Qatar and mobile operations in Algeria, Indonesia and Iraq. Consolidated EBITDA in January-March 2013 fell by 3.1% y-o-y to QAR3.7 billion driving quarterly EBITDA margin down by around four percentage points to 44%. Consolidated mobile customers increased by 7.7% y-o-y to 91 million at 31 March 2013. In Qatar, in Q1 2013 revenue grew by 4.9% y-o-y to QAR1.6 billion (around 19% of the group’s total turnover), although the company’s domestic EBITDA fell at a steeper rate than the group at large, as the Qatar-only figure dropped by 3.4% y-o-y to QAR771 million in the first three months of the year, partly due to heavy spending on Ooredoo’s direct fibre broadband and 4G LTE mobile network expansions.

Qatar, Ooredoo Group, Ooredoo Qatar