Vodafone Qatar swings to QAR75m net profit in 9M 2018

23 Oct 2018

Mobile and fibre broadband network operator Vodafone Qatar has reported a net profit of QAR75 million (USD20.4 million) in the first nine months of 2018, compared to QAR228 million net loss in the same period of last year, helped by growth in post-paid mobile and fixed services revenues alongside a cost optimisation programme. Revenue for the nine months to 30 September 2018 grew by 5% year-on-year to QAR1.53 billion, driven by post-paid subscriber growth (24% y-o-y), handset sales and corporate internet connections. 9M18 EBITDA increased by 16% y-o-y to QAR425 million on higher revenue and lower costs, boosting the EBITDA margin by 2.6 percentage points to 28%. Mobile ARPU rose by QAR12 y-o-y to QAR103.

Vodafone Qatar – controlled by Qatar Foundation – also reiterated that its 5G network rollout is ‘well underway’, having previously announced connecting a corporate customer to a live 5G network located at Qatar Science & Technology Park in late August whilst beginning deployment at more than 50 sites around the country using the 3.5GHz frequency band. Earlier this month it said that it was deploying 5G ‘in key locations’ including Abu Hamour, Al Azizya, Al Mamoura, Al Rayyan, Salwa Road and Umm Salal Mohammed.

Qatar, Vodafone Qatar