20 Feb 2019
Oman Telecommunications Company (Omantel), the Sultanate’s incumbent telecoms operator, has announced its preliminary unaudited financials for the year ended 31 December 2018. The figures include fully-consolidated Zain Group results, while prior-year financials include only the results of Zain Group from 15 November 2017 to 31 December 2017. Omantel has posted group revenue of OMR2.2 billion (USD5.6 billion) for full-year 2018, compared to OMR751.7 million a year earlier, mainly due to the consolidation of Zain’s revenue. EBITDA rose by 194% year-on-year to OMR854.6 million, while net profit grew 109% from OMR99.8 million to OMR208.9 million over the same period.