(MENAFN- Qatar News Agency) Ooredoo (Qatar Telecom) on Tuesday 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.
Earnings per share in Q1 2013 stood at QAR 2.52 (2012: QAR 2.70). 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, the company said in a statement Group revenue growth of 5.2% 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 11 March 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 2013 Group revenue grew by 5.2 percent year-on-year to QAR 8.4 billion (Q1 2012: QAR 8.0 billion). As at 31 March 2013, the Group's consolidated customer base stood at 91.0 million (Q1 2012: 84.4 million), representing year-on-year growth of 7.7 percent. Group EBITDA in the period decreased by 3.1 percent year-on-year to stand at QAR 3.7 billion (Q1 2012: QAR 3.8 billion). EBITDA margin at the end of Q1 2013 was 44 percent (Q1 2012: 48 percent). Net profit attributable to Ooredoo shareholders rose to QAR 808 million: a 13.6 percent year-on-year increase (Q1 2012: QAR 711 million) including the impact of the increased shareholding in Asiacell and Wataniya. Commenting on the results, HE 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, he added. 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", he noted . He said : "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".
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