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Ooredoo (Qatar Telecom (Qtel) Q.S.C.)
 

Net Profit Attributable to Ooredoo Shareholders increases 13.6% to QAR 808Million

Five Percent Increase in Q1 Revenue to Reach QAR 8.4 Billion

 

Doha, Qatar, 30 April 2013: Ooredoo(Qatar Telecom (Qtel) Q.S.C.)- Ticker: QTEL.QA today announced results for the three months ended 31 March 2013: a quarter in which the Group launched a dynamic new brand and in which it delivered strong revenue momentum across its broad geographic footprint.

Financial Highlights:

 

 

Quarterly Analysis

Q1 2013

Q1 2012

% change

Consolidated Revenue (QAR m)

8,442

8,026

5.2%

EBITDA (QAR m)

3,716

3,833

-3.1%

EBITDA Margin (%)

44%

48%

-

Net Profit Attributable to Ooredoo Shareholders (QAR m)

808

711

13.6%

Consolidated Customers (m)

91.0

84.4

7.7%

Earnings per share in Q1 2013 stood at QAR 2.52 (2012: QAR2.70).EPS reflects the issuance of bonus shares of 30% of share capital in March 2012 and Rights Issue of 2 shares for every 5 shares held in June 2012
Highlights:
Group revenue growth of5.2% driven by strong performance in the Group's home market of Qatar, in addition to further strong momentum from international Group operations in Algeria, Indonesia and Iraq.
Operation in Kuwait witnessed competitive dynamics.
Successful re-branding of the Group operating companies under the Ooredoo brand, initially unveiled at Mobile World Congress 25 February 2013 in Barcelona. Ooredoo brand was launched in Qatar on 11March 2013 with further implementation across the Group expected in 2013 and 2014. The operational results reflect the investment in the brand.
Completion of Asiacell IPO on 4 February 2013, with shares now trading 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.
Closing of fifteen-year and thirty-year Ooredoo bonds in January 2013, amounting to US$ 1 billion in senior unsecured notes under an existing Global Medium Term Note Programme.
Approval granted at the Annual General Assembly Meeting on 31 March 2013 for the distribution of cash dividends of 50% of share face value for 2012.
During the first three months of 2013Group revenue grew by 5.2 percent year-on-year to QAR 8.4billion (Q1 2012: QAR 8.0billion).
As at 31 March 2013, the Group's consolidated customer base stood at 91.0million (Q1 2012: 84.4million), representing year-on-year growth of 7.7percent.  Group EBITDA in the period decreased by 3.1percent year-on-year to stand at QAR 3.7billion (Q1 2012: QAR 3.8 billion). EBITDA margin at the end of Q1 2013was44percent (Q1 2012: 48percent).
Net profit attributable to Ooredoo shareholders rose to QAR 808million: a13.6 percent year-on-year increase (Q1 2012: QAR 711million) including the impact of the increased shareholding in Asiacell and Wataniya.
Commenting on the results, His Excellency 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.
Also commenting on the results Dr. Nasser Marafih, Group Chief Executive Officer 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. 
Review of Operations
The Group's operational performance can be summarized as follows:
Ooredooin Qatar
Qatar remains one of our leading markets, producing in the quarter another strong set of results for the Group.  Revenue grew by 4.9 percent year-on-year to QAR 1.6billion (Q1 2012: QAR 1.5billion).EBITDA decreased to QAR 771million, a 3.4 percent drop year-on-year (Q1 2012: QAR 798million).As at 31 March 2013, Ooredoo Qatar's consolidated customer base stood at 2.7 million (Q1 2012: 2.4 million).
Ooredoo Fibre continued to gain customers in the first three months of the year, following the successful uptake in the service Ooredoo saw last year. Complementing this is the post-period launch of 4G/LTE which positions Ooredoo to take advantage of long-term, valuable growth from the high speed data segment.
Indonesia
Supported by a continued focus on customer experience, manifested in the increased levels of network performance and new online and social media channel launches last year, Indonesia has progressed well this quarter.  With the ongoing coverage and capacity enhancements to the Indosat network, the aim has been to improve the customer experience.
At 31 March 2012, Indosat's consolidated customer base stood at 56.1million (Q1 2012: 52.3million).  Revenue in Q1 2013 grew by 8.8percent year-on-year to QAR 2.2 billion (Q1 2012: QAR 2.0billion) and EBITDA also increased, advancing 5.4percent year-on-year to stand at QAR 1.0billion (Q1 2012: QAR 990million).
Wataniya Telecom
Wataniya Telecom (National Mobile Telecommunications Company K. S. C.) encompasses the Ooredoo Group's businesses in Kuwait, Tunisia, Algeria, Kingdom of Saudi Arabia, the Maldives and Palestine. Wataniya Telecom released Q1 2013 financial results on 23 April 2013.
Revenue for Q1 2013 was QAR 2.4 billion: a year-on-year increase of0.9 percent (Q1 2012: QAR 2.4 billion) while EBITDA stood at QAR 936million (Q1 2012: QAR 1,015million). While Wataniya Kuwait again experienced competitive challenges in the first three months of the year, Algeria saw a continuation of its solid2012 performance. At the same time market and economic dynamics resulted in the Tunisian performance being slightly down compared with 2012.In Palestine, Wataniya Mobile focussed on attracting more customers.
Oman
Demand in Oman for broadband and data continues to grow and will be the key theme in 2013.  In order to meet these needs, Nawras is investing in upgrading its systems. Performance in Oman this quarter reflects the investment in these initiatives for future growth. Nawras released Q1 2013 financial results on 28 April 2013.
At 31 March 2012, Nawras' consolidated customer base stood at 2.2million customers (Q1 2012: 2.0million) with revenue for Q1 2013 of QAR 475 million (Q1 2012: QAR 461million).  Nawras EBITDA stood at QAR 219 million (Q1 2012: QAR 229million).
Iraq
The first quarter saw the successful completion of the Initial Public Offering of Asiacell.  Shares in Asiacell are now trading on the Iraq Stock Exchange (ISX), under the ticker TASC. This historic share offering confirms Asiacell's status as a symbol of pride for Iraq and its people. Asiacell performance has also been solid in terms of customer and top-line growth in 2013.
In Q1 2013 Asiacell delivered revenue of QAR1.7 billion (Q1 2012: QAR1.6billion), representing year-on-year growth of5.6 percent.  EBITDA in Q1 was down slightly by 1.7 percent year-on-year to QAR 900 million (Q1 2012: QAR 915 million).
Ooredoo will publish its Q1 2013 financial statements on its website, accessible at: http://www.ooredoo.com.


Posted by : Dubai PR Network Editorial Team
Viewed 13621 times
PR Category : Technology
Posted on : Wednesday, May 1, 2013  9:29:00 AM UAE local time (GMT+4)
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