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Ooredoo’s Q4 sales climb 3%, although consolidated group customers drop by same percentage

14 Feb 2023

Qatar-based multinational telecoms group Ooredoo posted consolidated revenue of QAR5.845 billion (USD1.591 billion) for the fourth quarter of 2022, up 3% from QAR5.653 billion in the same period of 2021 on a pro forma basis excluding joint venture company Indosat Ooredoo Hutchison, which was formed by the merger of Indosat Ooredoo and Hutchison’s Indonesian division in January 2022. EBITDA in 4Q22 reached QAR2.273 billion, although this was down by 2% from QAR2.317 billion posted in 4Q21. Net profit attributable to Ooredoo shareholders improved 12% year-on-year in the quarter to QAR722 million (4Q21: QAR643 million), while Ooredoo invested 8% less y-o-y in CAPEX, the figure hitting QAR1.174 billion compared to QAR1.270 twelve months earlier. Ooredoo reported a consolidated group customer base of 56 million at end-December 2022, down 3% from 58 million (pro forma) at end-2021.

Ooredoo’s Qatar division achieved record-breaking Q4 2022 revenue of QAR2.222 billion (up from QAR2.038 billion in 4Q21), boosted by the country hosting football’s FIFA World Cup, and also driven by growth in post-paid mobile services, Ooredoo TV, ICT services and increased device sales. Ooredoo Qatar reported a total of 2.416 million pre-paid mobile SIMs at end-4Q22, up sharply from 2.010 million in 3Q22, and 2.072 million at end-2021, but it appears this total is expected to drop again shortly – the operator recently introduced the Hayya SIM service which was made available to keep visitors connected during the World Cup. However, post-paid mobile subscriptions also rose notably in Q4, to 872,000, from 819,000 three months earlier and 786,000 a year before.

Qatar, Ooredoo Group, Ooredoo Qatar

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