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Customers increase by 12%: Qatar’s Ooredoo revenue falls by 2% to QR33,207m in 2014

Customers increase by 12%: Qatar’s Ooredoo revenue falls by 2% to QR33,207m in 2014

DOHA: Ooredoo announced here the other day that its number of customers increased by 12 percent to reach 107 million in 2014, driven by the Indonesian, Iraqi, Kuwaiti, Myanmar and Algerian markets.

Group’s revenue for 2014 decreased by 2 percent to QR33,207m compared to QR33,851m in 2013.  Group EBITDA stood at QR12,948m against QR14,640m in 2013 with EBITDA margin decreased to 39 percent due to the continued strategic investments across the business into broadband networks, customer acquisition and retention, global brand roll-out, service launches and customer experience.  Net profit attributable to Ooredoo shareholders for 2014 was QR2,134m against QR2,579m in 2013.

“Ooredoo is rapidly positioning itself at the heart of the digital future of our customers.  Mobile infrastructure is an essential enabler of a country’s economic prosperity, particularly in developing markets.  Our financial results for 2014, despite the challenges we have faced in some of our markets, demonstrate how Ooredoo is increasingly playing its role in supporting the economic growth in our markets,” said  Sheikh Abdulla bin Mohammed bin Saud Al Thani, Chairman of Ooredoo .

“Our networks, services and investments into new growth opportunities in Myanmar and next generation networks in Iraq, Qatar and Algeria all demonstrate the transformative power of Ooredoo for our customers and their communities. These investments into new technologies and future business will ultimately benefit our shareholders as well. On behalf of the Board of Directors, I am pleased to recommend to the General Assembly the distribution of a cash dividend of 40 percent of the nominal share value (QR4 per share),” he added.

Ooredoo’s strategy to become a data-centric business made significant progress following the investment the business has made in its broadband networks, data infrastructure, driving smart phone penetration and creating innovative new bundles and data offers for customers, the company said in a press release.

Group data revenue now represents 25 percent of group revenue. The growth in data revenue reflects the growing adoption of data-based services, enabled by the pervasiveness of Ooredoo’s ultra-fast broadband networks.  Ooredoo now has 4G deployed across five out of its nine markets.  Algeria, Iraq, Qatar and Tunisia are all markets where Ooredoo is the market leader in data customer share.

Ooredoo is also rolling out service agreements with OTT players to drive and capture a growing share of data revenue in its markets. Ooredoo generated strong revenue growth from its B2B strategy, which targets the communication needs of the businesses in its markets, with more than QR4.5bn of B2B revenues and B2B customers increasing by 25 percent during the year. Ooredoo invested in technology modernization across its global footprint during the year to enhance its customers’ experience and to create cost synergies.

“Ooredoo made significant progress against its strategy during 2014 despite facing sustained, high levels of competition, adverse currency movements and the current security situation in Iraq.  We continue to invest in our infrastructure to target market leadership by offering the best network experience.  Data revenue continues to grow and now represents a quarter of Group revenue. The acceleration of our strategy execution during 2014 puts Ooredoo in a good position to generate and capture value for our shareholders and our more than 107m customers,” said Dr Nasser Marafih, Group Chief Executive Officer of Ooredoo.