DOHA: Telecom major Ooredoo’s revenue rose 4.7 percent to QR17.1bn in the first half of 2013, compared to the same period in 2012. The Group’s year-on-year revenue growth was mainly fuelled by strong performances in Qatar and across the international footprint.
Ooredoo’s Earnings Per Share (EPS) in H1 2013 stood at QR5.41 compared to the 2012 first half’s QR4.92. Net profit attributable to Ooredoo shareholders rose to QR 1.73bn, representing a 28.1percent year-on-year jump.
As at June 30, 2013, the Group’s consolidated customer base stood at 92 million as against 84 million in H1 2012, representing year-on-year growth of 10 percent. Group EBITDA in the period decreased by 1.7 percent year-on-year to stand at QR7.66bn. The EBITDA margin at the end of H1 2013 was 45 percent compared to 48 percent in H1 2012.
Commenting on the results, Sheikh Abdullah bin Mohammed bin Saud Al Thani, Chairman of Ooredoo, said: “During the first half of 2013 we have achieved a number of milestones. Our brand has been transformed, powering our drive and ambition. Our strong revenue performance has continued as planned, driven by further market share gains and closer customer engagement across some of our key markets. Net profit attributable to Ooredoo shareholders has increased 28 percent compared to the first half of last year. And now, we stand ready to enter our newest market, Myanmar, following the award of the license there last month. Our aim – as in each of the markets across our footprint– is to offer our customers a world-class next-generation network as a trusted partner and provider of choice.”
Dr Nasser Marafih, Group Chief Executive Officer of Ooredoo, said: “The strength of our offering and our strategic focus moving us ever closer to our goal of becoming one of the world’s leading operators. We take a targeted, sensible and strategic approach to acquisitions, pursuing only those that serve the best interests of the Group and that generate value from the investments we make. We look to the second half of the year with confidence that our growth momentum will continue.”
The Group’s key player Ooredoo Qatar continued to demonstrate strong performance during the first half. It produced a strong set of results during the quarter, with revenue growing by 4.7percent year-on-year to QR3.2bn (H1 2012: QR3bn) and a consolidated customer base of 2.75m (H1 2012: 2.43m). EBITDA performance showed a decrease of 2.8 percent year-on-year to QR1.60bn.
The commercial launch of Qatar’s first-ever 4G network in April 2013 positioned the company for long-term growth in the high-speed data segment.
This was complemented by international recognition that Ooredoo’s nationwide fibre rollout was the fastest in the world in terms of the average percentage of homes passed by Fibre and the number of homes connected. On-going development of its entertainment portfolio saw the number of customers for its IPTV Mozaic service exceed total satellite subscriptions in country during the quarter, making it the most popular quality television service in Qatar. The Group’s effort to enhance coverage and capacity has supported further strong subscriber and revenue growth in Indonesia in the period. At 30 June 2013, Indosat’s consolidated customer base stood at 56.6m against 51.1m in H1 2012. Revenue in H1 2013 grew by6.8 percent year-on-year to QR4.38bn.
Wataniya Telecom that encompasses the Ooredoo Group’s businesses in Kuwait, Tunisia, Algeria, Saudi Arabia, the Maldives and Palestine, which released its H1 2013 financial results on July 24, posted a revenue for H 12013 as QR4.86bn, a year-on-year increase of 0.6 percent. Its EBITDA stood at QR1.94bn compared to QR2.02bn in H1 2012.
Wataniya Kuwait continues to face competitive challenges in its key markets. The economic situation in Tunisia has impacted Tunisiana’s performance, which is slightly down when compared with the same period one year ago. On the positive side, Algeria continues to deliver a strong performance, particularly in this first half and in Palestine our strong service offering continues to win more customers.
Following the Group’s investments in upgrading network systems and capacity in Oman, Nawras’ consolidated customer base reached 2.3m customers with revenue for H1 2013 recording QR969m. Asiacell in Iraq continues to progress, building upon the foundations of its highly successful IPO earlier in the year. In H1 2013 Asiacell delivered revenue of QR3.50bn compared to QR3.33bn in H1 2012, a year-on-year growth of 5.3 percent.
The Peninsula
