Quotes: US 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 which 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.


 






  MENA News Headlines
 Aug 1 2014 - India hires masked monkey men to combat macaque menaceKhaleej Times
(MENAFN - Khaleej Times) E very talented group of men has taken to wearing monkey masks imitating their whoops and barks and hiding behind trees to ward off the aggressive animals.India has hired a ...

 Aug 1 2014 - Isolated indigenous make contact with outside world in BrazilKhaleej Times
(MENAFN - Khaleej Times) Azilian experts said the indigenous people likely crossed the border from Peru facing pressure from illegal logging and drug trafficking at home.Isolated native people ...

 Aug 1 2014 - Hopes dim for India landslide survivorsKhaleej Times
(MENAFN - Khaleej Times) Out 160 people were thought to have been living in the dozens of damaged houses.Women mourn a victim of the landslide in Malin village of Pune district in western Maharashtra ...

 Aug 1 2014 - Indian nurses stuck in Libya to be shifted from todayKhaleej Times
(MENAFN - Khaleej Times) Acuation of Indians from the strife-torn Libya will begin on Friday with the first batch of 36 nurses from the southern state of Kerala moving to Tunisia in the morning on ...

 Aug 1 2014 - General Suhag takes over as the new India army chiefKhaleej Times
(MENAFN - Khaleej Times) Neral Dalbir Singh Suhag on Thursday took over as the new chief of the 1.General Suhag assumed charge after his predecessor handed over to him the Chief of Army Staff baton ...

 Aug 1 2014 - European Union formally adopts Russia sanctionsKhaleej Times
(MENAFN - Khaleej Times) E new measures finally agreed earlier this week after months of hesitation target Russias banking defence and energy sectors.The European Union formally adopted broad ...

 Aug 1 2014 - Train hits bus with bridal party in Bangladesh 10 killedKhaleej Times
(MENAFN - Khaleej Times) Lice said the accident occurred at an unguarded railway crossing allowing cars and buses to move freely across the track during the early hours of Friday.A train smashed into ...

 Aug 1 2014 - Gas blasts kill 24 injure 271 in TaiwanKhaleej Times
(MENAFN - Khaleej Times) E explosions believed to have been triggered by gas leaking from underground pipelines were powerful enough to upturn cars and tear open paved roads.Vehicles are left lying ...

 Aug 1 2014 - Friends CC GM score easy victories to enter Al Faraa T20 semisKhaleej Times
(MENAFN - Khaleej Times) The quarter-final matches Friends CC defeated Emistate by four wickets while GM CC coasted to a six-wicket victory over X Eleven.Friends CC defeated Emistate. — ...

 Aug 1 2014 - Romelu Lukaku lost focus as was not first choice says MourinhoKhaleej Times
(MENAFN - Khaleej Times) Joined Chelsea from Anderlecht for 18 million in 2011 but failed to make an impact at Stamford Bridge and spent the 2012-13 season on loan at West Bromwich Albion.Jose ...

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help