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Ooredoo net profit up 13% to QR2.9bn in 2012

Published on 04.03.2013 by @QatarSteve

Ooredoo, formerly known as Qtel Group on Sunday said net profit in 2012 increased 13 percent to QR 2.94 billion compared to QR 2.60 billion in 2011.

Revenues of the group was also up 6.2 percent to QR 33.71 billion compared to QR 31.74 billion. ” Increase in revnue was driven by healthy increases in Iraq, Algeria, Qatar and Indonesia supported by a stable performance by Nawras,” the telecom operator said in a statement.

As at 31 December 2012, the groups consolidated customer base stood at 92.9 million compared to 83.4 million in 2011, representing year-on-year growth of 11.5 percent, while the group’s EBITDA in the period increased by 5.1 percent year-on-year to stand at QR 15.5 billion .

“Todays record results demonstrate that we are ready to take our company to the next level. We have delivered record revenue and are seeing on-going growth in some of the most important sectors for the future, such as mobile data and broadband services. At the heart of this development, we remain focused on the needs and aspirations of our customers, and believe we are better placed than ever to stimulate human growth across our markets. By unifying our companies under our new brand, Ooredoo, we can leverage our combined resources to serve customers and deliver for shareholders,” Chairman of Ooredoo Sheikh Abdullah bin Mohammed bin Saud al Thani, said in a statement.

At home, the telecom operator’s revenue  exceeded QR 6 billion for the first time in company history, representing a 9 percent growth on 2011 figures. EBITDA also increased, advancing 10.2 percent year-on-year to stand at QR 3.2 billion compared to QR 2.9 billion in 2011.
As at 31 December 2012, the company’s Qatars consolidated customer base stood at 2.5 million.

Chief Executive Officer Nasser Marafih expressing statisfaction at the results said, As a combined and united team, we are improving the customer experience in all areas. Key milestones in technological and network enhancements, such as the introduction of 4G services and the transition from 2G to 3G across key markets, have been achieved in 2012. We are also working towards greater customer intimacy, getting closer to our customers wants and needs than ever before, which in turn will increase our value proposition.

As Ooredoo, we have a young, exciting brand that reflects the aspirations of our customers “ we will continue to deliver on their aspirations now and in the future.

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