Vodafone Qatar achieves first annual net profit

12 Feb 2019

Vodafone Qatar has posted total revenue of QAR2.101 billion (USD570 million) for the year ended 31 December 2018, up by 5.1% and returning to year-on-year growth for the first time in four years, driven by increases in post-paid mobile, fixed fibre services and handset revenue. The operator – launched in 2009 – recorded its first-ever annual net profit of QAR118 million in FY18, a year-on-year net income improvement of QAR374 million. Annual EBITDA of QAR584 million increased by 8.5% thanks to a cost optimisation programme.

Vodafone Qatar’s post-paid mobile customers increased by 24.1% during 2018, as its total customer base rose 2.0% y-o-y to 1.417 million at end-December, ‘due to the innovative products and the popularity of Vodafone’s FLEX, Red and Enterprise plans that suit all customer needs’, its press release declared. Reflecting the post-paid growth, ARPU for the year stood at QAR105, up 5.6% from 2017’s figure.

Qatar, Vodafone Qatar