DOHA: Ooredoo (Qatar Telecom (Qtel) QSC) yesterday announced its financials for the first quarter ended March 31, 2013. Ooredoo’s net profits increased to QR808m during the first three months of this year, up 13.6 percent compared to QR711m for the corresponding period last year, a press statement said yesterday.
The earnings per share (EPS) in Q1, 2013, stood at QR2.52 (2012: QR2.70). The EPS reflects the issuance of bonus shares of 30 percent of share capital in March 2012 and rights issue of two shares for every five shares held in June 2012.
This is the quarter in which the group launched a dynamic new brand and delivered strong revenue momentum across its broad geographic footprint.
The consolidated revenues of Ooredoo amounted to QR8.44bn, up 5.2 percent against QR8.02bn for the same period in 2012.
According to the statement, the Group witnessed a 7.7 percent increase in the number of its consolidated customers to reach 91 million (y-o-y) by the end of March 31, 2013.
The revenue growth was driven by strong performance in the group’s home market of Qatar, in addition to further strong momentum from the group’s operations in Algeria, Indonesia and Iraq. Operation in Kuwait witnessed competitive dynamics.
Successful re-branding of the group’s operating companies under the “Ooredoo” brand was initially unveiled at ‘Mobile World Congress’ on February 25 in Barcelona. Ooredoo brand was launched in Qatar on March 11, 2013, with further implementation across the group expected in 2013 and 2014. The operational results reflect the investment in the brand.
With the completion of Asiacell IPO on February 4, the shares are now being traded on the ISX. The fully subscribed share offer was the largest ever in Iraq and the biggest equity offering in the Middle East since 2008.
The other highlights include:
• Closing of 15-year and 30-year Ooredoo bonds in January 2013, amounting to $1bn in senior unsecured notes under an existing Global Medium Term Note Programme.
• Approval granted at the Annual General Assembly Meeting on March 31, 2013, for the distribution of cash dividends of 50 percent of share face value for 2012.
The group EBITDA in the period decreased by 3.1 percent (y-on-y) to stand at QR3.7bn (Q1 2012: QR3.8bn). EBITDA margin at the end of Q1 in 2013 was 44 percent down four percent compared to Q1 of 2012.
Sheikh Abdullah bin Mohammed bin Saud Al Thani, Chairman of Ooredoo, said: “We have started 2013 with strong momentum across many of our key markets leading to solid revenue performance in Q1.
“We see positive developments in customers and usage in mobile data and broadband services in line with our strategic focus. Our re-brand to Ooredoo has been an inspiration and we are proud to have taken the first step to unify our companies under a single, dynamic brand which ties Ooredoo and our customers’ ambitions ever closer together.”
Dr Nasser Marafih, CEO of Ooredoo, said: “As a group we continue to witness key developments across the different countries in which we operate.
“We are introducing next generation networks and data services. Our customers are demanding on-line access to services on their smartphones and we are determined to meet and exceed their expectations. We believe these enhancements present us with a number of growth opportunities and are excited about the prospects for the Group in the year ahead as we continue to put our customer needs first.”
The Peninsula
