Omantel posts 18.6% rise in 2019 revenue

Oman Telecommunications Company (Omantel), the Sultanate’s incumbent telecoms operator, has announced its preliminary unaudited financials for the year ended 31 December 2019. The firm has posted group revenue of OMR2.59 billion (USD6.7 billion), an increase of 18.6% from OMR2.18 billion a year earlier, of which domestic operations contributed OMR554.3 million in 2019, compared to OMR546.0 million twelve months previously. Group EBITDA rose by 28.5% year-on-year to OMR1.09 billion in 2019, while net profit grew from OMR208.8 million to OMR299.7 million over the same period. Domestic net profit dropped 11.6% year-on-year to OMR79.0 million, mainly due to a reduction in mobile pre-paid revenue and Indefeasible Rights of Use (IRU) capacity sales.