Ooredoo’s 9M revenues up 2.6%

31 Oct 2013

Qatari group Ooredoo (formerly Qatar Telecom) has reported that in the first nine months of 2013 its consolidated revenue grew by 2.6% year-on-year to QAR25.65 billion (USD7.04 billion), up from QAR25.0 billion in 9M12. As at 30 September 2013, the group’s consolidated customer base stood at 89.6 million (September 2012: 89.2 million), representing year-on-year growth of 0.4%. Group EBITDA in the nine-month period decreased by 3.2% year-on-year to stand at QAR11.29 billion (9M12: QAR11.67 billion). EBITDA margin at the end of Q3 2013 was 44% (down from 47% twelve months earlier). Net profit attributable to Ooredoo shareholders was QAR2.069 billion in January-September 2013, representing a 4% year-on-year decrease from QAR2.156 billion in the same period of 2012; net profit was largely impacted by a QAR466 million foreign exchange loss for the third quarter of 2013.

In Qatar, Ooredoo’s mobile, fixed line and broadband customer base stood at 2.8 million at the end of the third quarter, up from 2.4 million a year earlier. According to its financial statement, in the nine months ended 30 September 2013 Ooredoo Qatar posted revenues of QAR4.860 billion, up by 4.6% year-on-year from QAR4.645 billion in 9M12, while domestic profit before tax fell by 5.5% to QAR1.108 billion, down from QAR1.173 billion in the first nine months of 2012. Ooredoo also reported that Qatar-only EBITDA decreased by 3.5% year-on-year to QAR2.37 billion in January-September 2013.

In other group divisions, as at 30 September 2013, Ooredoo’s Indonesian subsidiary Indosat’s consolidated customer base stood at 53.8 million (down from 55.7 million one year earlier), while revenue in 9M 2013 increased slightly, by 0.2% year-on-year to QAR6.46 billion (9M 2012: QAR6.44 billion). Indosat’s EBITDA decreased by 4.9% year-on-year to QAR3.06 billion in 9M13 (9M12: QAR3.2 billion).

In the first three quarters of 2013 the group’s Iraqi cellular unit Asiacell posted revenue of QAR5.31 billion (up from QAR5.04 billion a year earlier), representing year-on-year growth of 5.3%. Asiacell’s EBITDA in 9M 2013 increased to QAR2.8 billion from QAR2.71 billion in the year-ago period.