Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar - Ooredoo Group posts QR33.9bn revenue in 2013  Join our daily free Newsletter

MENAFN - The Peninsula - 05/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Ooredoo's Group revenue increased 1.1 percent to QR33.9bn for the full-year 2013. Net profit attributable to Ooredoo shareholders for the year was QR2.6bn compared to QR2.9bn for the same period in 2012. The Board of Directors recommended a cash dividend of 40 percent of the nominal share value , means QR4 per share



Normalised full-year 2013 and fourth quarter in 2013 net profit attributable to Ooredoo shareholders, excluding currency loss, one-off tower sale gain in Q3, 2012 in Indosat and start-up cost in Myanmar, stood at QR3.34bn, up 16 percent against FY12 and QR 641m, down 11 percent against Q4, 2012, respectively.



The group's EBITDA and EBITDA margin were impacted by currency depreciation, Myanmar start-up costs, investment into Kuwait's recovery strategy and global brand roll-out



Ooredoo Algeria successfully launched widest 3G service network in Algeria in December. Wataniya Kuwait delivering on recovery strategy in highly competitive market, improving Q3, 2013 against Q4, 2013 EBITDA, EBITDA margin and net profit trends.



Ooredoo Myanmar planning to launch 3G only services within six months. Ooredoo global brand roll-out successfully completed in Algeria, Tunisia and Maldives, following on from the launch of Ooredoo in Qatar earlier in the year. Successful launch of inaugural 1.25bn sukuk was four times over-subscribed



As at December 31, 2013, the consolidated customer base stood at 96 million against 92.9m in 2012, representing year-on-year growth of 3.5 percent.



The EBITDA for the period was down by six percent to QR14.6bn against QR15.6bn in 2012 and EBITDA margin was also down to 43 percent against 47 percent due to the adverse currency impact of the Indonesian Rupiah, Myanmar start-up costs, brand roll out cost and the group's investment into Kuwait's recovery strategy



Commenting on the results, Sheikh Abdullah bin Mohammed bin Saud Al Thani, Chairman of Ooredoo, said: "Ooredoo has produced solid revenue growth in 2013 a year in whch the group faced challenges as well as opportunities. Across our portfolio our focus remains on delivering the best customer experience and the most reliable networks. This commitment is helping to drive our business growth, which we have seen this year in markets such as Algeria where we launched the widest 3G network in the country, in our home market in Qatar, and Myanmar where we are planning to launch the country's best 3G network later this year.




Dr Nasser Marafih, Group Chief Executive Officer of Ooredoo said: "Ooredoo faced a range of competitive challenges across its markets during the course of 2013. However, our strategic investment into the continual improvement of our networks, customer experience, products and services, distribution and branding saw some notable successes and improving trends across our portfolio."



Ooredoo Algeria delivered strong revenue and EBITDA growth, with Ooredoo Qatar and Nawras also performing well. Indosat secured good customer growth and is seeing increasing mobile data traffic and revenue in its modernised network. Wataniya Kuwait now has the market's leading next generation network and it is beginning to win back market share and perform financially in a highly competitive market. Asiacell performed well with strong growth in customer numbers despite the increasing levels of competition in Iraq.



Ooredoo, Qatar, delivered impressive results for the group during the year, with revenue growing by 5.9 percnet year-on-year to QR6.6bn against QR6.2bn in 2012 and a consolidated customer base of 2.9 million. EBITDA performance showed a slight increase of 0.7 percent year-on-year to QR3.3bn. National re-brand and network modernisation programmes generated higher costs.



Ooredoo significantly enhanced its product portfolio in Qatar during the quarter, with a range of new services for consumer and business customers. The company's investment in a nationwide fibre network delivered positive results, reaching the milestone of 100,000 customers in Qatar by the end of 2013.


 


The Peninsula




  MENA News Headlines
 Oct 1 2016 - Successful conclusion of the 16th GoforIsrael - China - Israel Investment Summit Forum in Shanghai Jointly Held by China Everbright Limited & Its Israeli PartnersMENAFN Press
(MENAFN Press) HONG KONG, Sept 30, 2016-(ACN Newswire)-China Everbright Limited ("CEL", stock code: 165.HK) along with CEL- Catalyst China Israel Fund ("CCF"), Cukierman & Co. Investment House ...

 Oct 1 2016 - Saudi economic growth hits slowest rate in Q2MENAFN
(MENAFN) Government data showed that Saudi Arabia's economy grew at its slowest rate in more than three years between April and June.Also, growth has been weakening since early 2015 as cheap oil ...

 Oct 1 2016 - New regional deadline in Gulf States by 2021MENAFN
(MENAFN) UAE's Minister of Infrastructure confirmed that the six Gulf countries have agreed in principle to push back the completion date of a 2,100 kilometer transnational rail network stretching ...

 Oct 1 2016 - Libya: EU renews sanctions for six monthsMENAFN Press
(MENAFN Press) Libya: EU renews sanctions for six months On 1 April 2016, the Council added three persons to the list of people subject to EU restrictive measures against Libya BRUSSELS, Belgium, ...

 Oct 1 2016 - GCC mobile transactions higher by 4% in H1 of 2016MENAFN
(MENAFN) A new study showed that the shares of mobile transactions in the GCC at 43% in higher than the global average by 4%.Also the report has provided insights into consumer shopping habits and ...

 Oct 1 2016 - IPC® Early Childhood Education Teacher Training Programs Gain MomentumMENAFN Press
(MENAFN Press) Dubai: The September session of the IPC Early Childhood Level 2 and Level 3 teacher training programs have received an overwhelming response and teacher participants are on their way ...

 Oct 1 2016 - His Highness Sheikh Dr. Sultan Al Qasimi: Foreign Direct Investment Creates Real WealthCulture, Art and Literature'MENAFN Press
(MENAFN Press) Message given by His Highness the Ruler of Sharjah at opening of second Sharjah FDI Forum Sharjah, UAE, September 28, 2016:‘Foreign direct investment leads not only to ...

 Oct 1 2016 - Dubai Health Authority marks World Heart Day 2016MENAFN Press
(MENAFN Press) Dubai, UAE, September 29, 2016:His Excellency Humaid Al Qatami, Chairman of the Board and Director-General of the Dubai Health Authority (DHA), inaugurated today the DHA";s World ...

 Oct 1 2016 - Post Offices will remain closed on Islamic New Year holidayMENAFN Press
(MENAFN Press) Dubai, UAE, September 29, 2016: Emirates Post Group has announced that all post offices in the UAE will remain closed on the occasion of Al Hijri Islamic New Year on Sunday, October ...

 Oct 1 2016 - Strategic New Leadership for Abu Dhabi-based Royal JetMENAFN Press
(MENAFN Press) Abu Dhabi, UAE, September 29, 2016: Royal Jet, the Middle East";s foremost private charter company, has appointed a new leader to pilot the latest chapter in its pioneering history. ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help