Ooredoo Oman Net Profit up by 21.6% in First Quarter Increased Revenue and Customer Numbers

MobilkOmani  - Qatari Telecommunications Company SAOG (“Ooredoo”) today announced unaudited financial results for the nine months ended 30 September 2014:

Financial Highlights:

Three months ended 31 March 

 20152014Change %

 

Revenue (OMR m)            59.3            52.712.5%

EBITDA (OMR m)*            33.8            27.323.8%

Net Profit (OMR m)               10.7            8.821.6%

Mobile and Fixed Customers (000)          2,715          2,43311.6%

* Certain comparative amounts have been reclassified to conform to current period presentation. The reclassifications do not affect the reported Net profit during the period ended 31 March 2014

Key Messages

Revenues for Q1 2015 grew by 12.5% to OMR 59.3 million compared with OMR 52.7 million in Q1 2014. The growth is driven by increases in both mobile and fixed data revenue.

EBITDA for Q1 2015 was OMR 33.8 million compared with OMR 27.3 million in Q1 2014 due to  higher revenue. 

Net profit for Q1 2015 was OMR 10.7 million compared to OMR 8.8 million for the same period of 2014. The net profit increased by 21.6% due to an improvement in EBITDA that was partially off-set by investment in network modernisation and expansion. 

Total number of customers grew by 11.6% in Q1 2015 from 2,432,751 to 2,714,716.

The fixed service customer base decreased by 11.1% to 58,435 customers in Q1 2015 compared to 65,728 in same period 2014. This is due to the transition period to a new Home Broadband technology that will bring improved services to our customers. The mobile post-paid customer base grew by 5.1% to 199,206 customers compared with 189,554 customers in Q1 2014. The mobile pre-paid customer base for Q1 2015 increased by 12.8% to 2,457,075 compared to 2,177,469 for the same period last year.

 

Commenting on the results, CEO, Greg Young said:

“We are very pleased with our revenue growth this quarter, which again is a testament to our inspiring products and services as well as our network and, of course, our excellence in customer experience.  

“The continued investment in modernising and expanding our network is paying off as we continue to provide the coverage and speed, especially with our expanding 4G footprint, that our customers both need and want.  Our investment will continue this year as we further improve network performance and our customers’ experience across the Sultanate.  We have also continued to expand our fibre network, to future-proof our network countrywide and provide a second-to-none customer experience.

“The increase in our mobile post-paid customer base is an indication of the popularity of our Shahry Packs and the combined offer of these packs when teamed with buying a new device.  Similarly, our pre-paid customer base has also grown due the number of exciting offers and incentives we have provided.

“Our newly launched loyalty program is also providing our customers with some exciting new retail and telecoms benefits, all accessed through our innovate Ooredoo Oman app.  We continue to innovate in the digital arena and our aim it is to bring benefits, rewards and more control to our customers in the consumer and business sectors.

“Recognising another successful quarter, I would like to thank all the Ooredoo family members for their continued hard work and contribution to our ongoing success and growth.”