Business 09

THURSDAY 29 JULY 2021 Charting ’s new digital horizon: malomatia We reiterate our commitment towards dedicating our expertise and local knowledge to provide best practises nation-wide by working towards creating sustainable local ICT services throughout the Qatari market.

Mohammed Al Emadi Business | 11 Chief Operating Officer, malomatia QSE 10,708.37 +39.97 (0.37%) FTSE 100 7,016.63 +20.55 (0.29%) DOW 35,024.26 −34.26 (0.098%) BRENT $73.89 (+0.32)

Ooredoo Group announces QR14.5bn revenue for H1

THE PENINSULA — DOHA He added that cost control and effi- Group EBITDA for H1 (first half) ciency measures resulted in a 13 percent Q.P.S.C. announced yesterday 2021 was QR6.4bn with a improvement in EBITDA for Ooredoo QR14.5bn revenue for the half year ended corresponding EBITDA margin Kuwait and 8 percent for Ooredoo June 30, 2021, showing an increase of 3 Algeria. We recorded 8 percent more percent compared to the same period of 44 percent, driven by customers for and 9 last year. The increase was mainly driven growth in Indonesia, Qatar, percent more customers for Asiacell, by growth in its home market Qatar, Kuwait, Tunisia, and Algeria. Iraq. recorded positive Indonesia, and Tunisia. Excluding FX trends for revenue (8 percent), he said. impact, revenue increased by 5 percent. The EBITDA growth rate stood “Looking ahead, we remain opti- Group EBITDA for H1 (first half) 2021 at 7 percent and at 10 percent mistic about Ooredoo Group’s growth was QR6.4bn with a corresponding excluding FX impact. potential and we believe that we have EBITDA margin of 44 percent, driven by made the right investments to continue growth in Indonesia, Qatar, Kuwait, delivering long term value for our share- Tunisia, and Algeria. The EBITDA growth holders, customers and countries in rate stood at 7 percent and at 10 percent Net Profit was impacted by an which we operate,” he added. excluding FX impact. impairment of the operation in Myanmar Ooredoo Qatar saw growth during Ooredoo’s consolidated customer Chairman of Ooredoo, Sheikh Faisal bin Thani Al Thani (left) and Managing Director due to the uncertain political envi- the period. Reported revenue was up 5 base increased by 1 percent due to of Ooredoo, Aziz Aluthman Fakhroo ronment. The loss was partially offset by percent year-on-year to QR3.7bn, driven growth in Indonesia, Oman and Iraq, off- gains from the Indonesian tower sale and by growth in post-paid services, Mobile setting the decline in other markets. of the year, with a revenue increase of 3 financial performance. The confidence leaseback. Excluding these one-offs and Financial Services Ooredoo tv, business- Group Net Profit attributable to percent, as we further progressed our of our customers resulted in an increase the FX impact, Net Profit increased by to-business revenue and higher sales of shareholders turned negative due to digital strategy, whilst effectively man- of our customer base by an additional 52 percent.” devices. EBITDA stood at QR2bn (H1 impairments (QR2,341m, mainly from aging our costs and overheads to support one percent. We continue to focus on “In Qatar, our home market, we 2020: QR1.9bn). Customer numbers ) partially offset by the growth of our business across our providing reliable connectivity and inno- recorded a strong performance with dropped to 3 million, reflecting the profit from the sale and leaseback of various markets. Consequently, our vative products to our customers and growth in terms of revenue (5 percent) changing demographics of Qatar during Ooredoo’s tower assets EBITDA margin improved to 44 percent, are proud to be leading in this space.” as well as EBITDA (2 percent). Indosat the period. (QR1,000m). Excluding these one offs up from 42 percent for H1 2020, despite Also commenting on the results, Aziz Ooredoo continues to deliver robust Despite the decrease in population and FX impact, net profit increased by the challenges presented to us due to Aluthman Fakhroo, Managing Director results across the board, contributing sig- and the QR3.5 million financial sanctions 52 percent. COVID-19.” of Ooredoo said: “The positive trend in nificantly towards Group growth, with that were imposed on the company by Commenting on the results, Sheikh “Our response to the pandemic and 2021 is even stronger excluding the FX a 14 percent increase in revenue and an the Communications Regulatory Faisal bin Thani Al Thani, Chairman of our robust strategy enabled us to report impact with revenue growth of 5 percent improved EBITDA margin of 50 percent,” Authority, Ooredoo Qatar recorded a Ooredoo, said: “We had a good first half solid operational and and EBITDA growth of 10 percent. Our he said. very strong performance. `P11 UDC posts QR157m net profit and QR1.2bn revenue for first half

THE PENINSULA — DOHA Gewan Island with a continued focus on sought-after by local and foreign commercial activities. This strategy, investors”. United Development Company (UDC), coupled with our rich portfolio of “Looking ahead to the remainder of a leading Qatari public shareholding projects, has enabled UDC to sustain a the year, UDC will continue working on company and the master developer of diversified revenue stream”. the completion of the development plan The Pearl-Qatar and Gewan Island, Al Khater further stated: “The for the projects under implementation, announced its financial results for the financial results show positive including United School International as first half of 2021, reporting net profit of improvement resulted from sales and well as Floresta Gardens and Giardino QR157m and revenue of QR1.2bn. The leasing revenues, especially with the Village gated residential compounds at The net profit attributable to the equity share- handover of the majority of UDC’s latest Pearl-Qatar and Crystal Residence apart- holders was QR136m and basic earnings residential units at Al Mutahidah Towers ments in Gewan Island, which are aligned UDC Chairman, Turki bin Mohammed Al Khater (left), and UDC President and per share was QR0.038. at The Pearl-Qatar. Committing to high with established plans and timetables and Chief Executive Officer and Member of the Board, Ibrahim Jassim Al Othman Turki bin Mohammed Al Khater, standards of design, build quality, and which reflect our commitment to pre- UDC Chairman said: “In the first half of innovation, UDC consistently offers serving shareholders’ and investors’ 2021, UDC achieved a sustainable per- premium experiences and lifestyle values,”. Al Khater concluded. formance by balancing development opportunities across market segments; For his part, Ibrahim Jassim Al activities across The Pearl-Qatar and and its properties continue to be highly Othman, UDC President and Chief Executive Officer and Member of The Board said: “The first half results are in line with UDC’s strategy to focus on delivering projects that are cur- rently under development and as per the target completion schedules. We are equally fully committed to sales and leasing activities which serve to enhance our recurring revenues”. Al Othman stated: “The Pearl- Qatar maintains its position as a leading retail destination, as evi- denced by the signing of 38 new retail leases in the past six months, covering an area of 18,000 sqm Al Mutahidah Towers, The Pearl-Qatar including The Pearl-Qatar Com- mercial Showrooms. `P11 GCC well positioned to be leader in renewable energy

DEEPAK JOHN a society to adapt to hazards. THE PENINSULA He pointed, the GCC region is very well positioned to be a leader in renewable energy resources especially solar The Gulf Cooperation Council (GCC) region is very well and wind and there are many other competing energy positioned to be a leader in renewable energy resources. sources which can be utilized in the region. “The Gulf There are many other competing energy resources which region is well positioned to adapt as they have the financial can also be utilized in the region, said an expert during a resources, labour forces and different technological virtual event. advancements. We have globally 40 types of energy Eminent panellists shed light on the regional and local sources like biofuels, different types of solar applica- perspectives during the webinar organised by the EU-GCC tions,” he said. Clean Energy Technology Network, the Environmental He said, in transitional phase, the region is very Center for Arab Towns (ECAT) and the Global Covenant well positioned to transit to renewable energy of Mayors for Climate and Energy (GCoM). resources, highlighting natural gas will play an Mohamed Abdel Raouf Abdel Hamid, Sustainability important role in next 20 years according to most Research Program Manager, GRC, Jeddah emphasised estimates. “Oil and gas results around 70 percent of on the development of climate action plans in the GCC, the combined government revenues and are 95 percent energy transition pathways and focused on urbani- of the region’s own need for energy. The outlook for sation in the GCC region. He highlighted the biophysical renewable energy is very positive which on average vulnerability that is the degree to which a physical is around 3.5 percent and there are different policies system is unbale to cope with adverse effects of climate and measures to enhance energy efficiency,” he change and social vulnerability that is the measure of added. `P11 10 BUSINESS THURSDAY 29 JULY 2021 THURSDAY 29 JULY 2021 BUSINESS 11 Barwa Real Estate reports QR533m net profit for first half

THE PENINSULA — DOHA As a result of the Group’s success for the World Cup events. Development in developing a balanced real work on the two projects is expected to Barwa Real Estate Group, the leading real estate portfolio that helps to face be completed by mid-2022. estate and Investment Company in Qatar market fluctuations and despite the The Group is also studying the eco- and the region, reported QR533m net effects of the Corona pandemic on nomic feasibility of many of the devel- profit for the period ending on June 30, the global economy, the Group has opment projects put forward by the Public 2021. The total assets of the Group succeeded in strengthening rental Works Authority under the Public-Private exceeded the value of QR35bn, and the income and increasing it by 41 Partnership system, and the participation total equity of the shareholders of the percent, which is a large percentage of the Group in any of these tenders will parent company exceeded the value of depend on their economic feasibility and QR20bn. in light of the challenges witnessed commensurate with the Group’s devel- As a result of the Group’s success in by the real estate market. opment strategy. Barwa will also continue developing a balanced real estate port- in studying its available space lands to folio that helps to face market fluctuations During 2020, the Qatar Schools determine their optimal use to support and despite the effects of the Corona pan- Project Development Agreement - the financial position of the Group and demic on the global economy, the Group Package I - was signed as the first project contribute to the development of the sus- has succeeded in strengthening rental to be implemented by the Public-Private tainable revenues. The group continues income and increasing it by 41 percent, Partnership system, which is expected to to study the development potential of its which is a large percentage in light of the the period, and in a way that supports her the COVID-19 pandemic, the company is be completed in 2022. During 2020, also, large land holdings spread over various challenges witnessed by the real estate financial position. determined to develop a balanced real construction work was launched in the locations, including notably large plots in market and it reflects the size of planning Despite the decrease in the net profit estate portfolio that will help cope with two projects of Madinatuna, which is Lusail and other strategic sites in Qatar. and the effort made at all levels within the for the period compared to the same period market volatility and support ongoing intended as a residential city for families, The Group has always promoted the Group to promote the sustainable growth last year by QR53m, which is due to the sig- operating revenues. Development work and in Baraha Al Janoob, which is a principle of partnership with the Gov- of operating revenues. nificant decrease in some non-recurring continues on several new projects that will workers’ city. The two projects are located ernment of the State of Qatar to develop The company also succeeded in items such as profits from valuation of contribute to the growth of the company’s within the geographical border of the more real estate projects aimed at meeting rationalizing its various expenses, which investment properties and other income, operating revenues and promote sus- municipality of Al-Wakra. The cost of the needs of the real estate market and led to a decrease in general and admin- the increase in operating income and ration- tainable growth of its shareholder earnings, developing the two projects exceeds the consistent with Qatar’s National Vision istrative expenses by 34 percent and also alization of expenses have contributed sig- including: The development work con- value of QR5bn. The two projects will 2030 and supporting the company’s sus- a decrease in net financing costs by 8 nificantly to compensate for this decrease. tinues for the third phase of the Mawater enhance the levels of support for the part- tainable growth strategy and solidifying percent, which contributed to an increase Despite the continuing challenges City Project, which began in August 2019 nership with the State of Qatar and will its position as a leading national real estate in the net cash income of the Group for facing the real estate market as a result of on 418,000 square meters of land. be used as part of the organizational plans development company. Charting Qatar’s new digital horizon: malomatia UDC posts QR157m THE PENINSULA — DOHA net profit and QR1.2bn Last month witnessed a key event of our beloved nation’s advent into the digital era, the revenues for first half Launch of TASMU Platform - a FROM PAGE 9 singular platform that unifies that strategy, we have launched various sectors by harnessing the The Pearl-Qatar has also leasing in Al Mutahidah Towers power of ICT, to deliver positive welcomed 20 new stores since last June and will be offering outcomes to the citizens, resi- beginning of 2021, with 50 80 compound villas in Giardino dents and visitors of Qatar, under more brands expected to open Village, for leasing later this the patronage of Prime Minister from the hospital and the clinic commitment towards dedicating by end of the year”. year”. and Minister of Interior, H E remotely towards home as part our expertise and local Al Othman further pointed UDC is also set to start con- Sheikh Khalid bin Khalifa bin of the TASMU initiative. knowledge to provide best prac- that residential occupancy also struction works on the new Abdulaziz Al Thani. The primary objective of the tises nation-wide by working thrived with 103 new rental Corinthia Yacht Club in Porto The platform is considered Virtual Consultation was to towards creating sustainable contracts signed for UDC prop- Arabia, which will span a built- to be the driving force for Smart The Digital Farmer Com- reduce pressure on medical facil- local ICT services throughout the erties, while UDC sold 89 com- up area of 2,232 sqm and will Qatar Program (TASMU). munity platform’s aim is to ities, improve response time for Qatari market.” said Mohammed pleted residential units across feature many facilities The milestone event was provide the farmers localized patients, increase convenience Al Emadi (pictured), Chief Oper- The Pearl-Qatar, 3 plots in Gia- including fine dining restau- launched by Minister of agriculture information and for patients and doctors ating Officer, malomatia rdino Village and 13 plots in rants, climatized outdoor Transport and Communications, crop-specific advice which are malomatia is extremely Meanwhile, Bassam Fadol, Gewan Island. seating, as well as a cigar H E Jassim bin Saif Al Sulaiti. extremely beneficial in increasing grateful for the visionary lead- Director of Applications & Tech- Al Othman indicated that lounge, several meeting rooms, Going with the apt title of productivity and reducing oper- ership within MoTC, MOPH & nology Services, malomatia Gewan Island development and many more services that “The Heartbeat of a Digital ational costs thereby leading to TASMU, where foundations for extended his heartfelt thanks to works are progressing steadily help create a leisurely feel. Nation”, the event was attended a profit. The farmer is able to the virtual consultation platform MoTC for giving malomatia the as planned, with marine works Also in Porto Arabia, UDC by prominent members of MoTC, liaise with experts within the were already laid prior to the great opportunity to be a part of for beach villas and island is preparing to inaugurate a Ooredoo, several ministers, high- platform to ensure that his farm pandemic. This enabled malo- the Smart Qatar grand vision and mansions completed, infra- fine dining restaurant, ‘Shirvan profile officials, technology firm can utilize the benefits provided matia to deploy their services as to his malomatia teams for their structure works still ongoing Métisse Doha’ in partnership representatives, as well as many by various technologies like Sat- quickly as within a fortnight, with hard work to make these projects and building works at Crystal with world-acclaimed Michelin remote guests who watched the ellite, IoT, Image Analytics which the Virtual Consultation tech- a reality. He also praised the Residence continuing after star Chef Akrame Benallal, launch event via livestreaming enable the farmer to be well pre- nology being deployed currently leading enabler of digital podium slab construction has which will introduce an online. pared by empowering them with in over 325 clinics executing over business innovation, Ooredoo, been finalized, while devel- entirely new fusion concept malomatia, who played the the best practices conducted 70,000 consultations across 30+ for the successful launch of the opment of Gewan Bridge con- inspired by Old Silk Road food pivotal role of the Master System throughout the world. The main distinct medical services - all TASMU platform on the first tinues with the bridge deck cultures and will equally enrich Integrator, congratulates MoTC objective of the Digital Farmer provided to the public in a week of July 2021. He added that scheduled to be completed by The Pearl-Qatar’s gastronomy for having these exceptional ini- Community is to create an end- seamless manner. malomatia is extremely excited end of 2021. offerings. tiatives that developed Qatar to-end visibility of the overall “We are proud to successfully and eagerly looking forward Commenting on the Com- Al Othman concluded his Digital Community and thereby Agriculture Value Chain. partner with MoTC, thereby towards a new horizon in Qatar pany’s expected performance statement saying: “We look enabling the Smart Qatar Virtual Consultation is an charting new digital horizons Digital Solutions. for the second half of the year, forward to a promising future, program (TASMU) which has important platform that looks to within the nation, by undertaking malomatia is a Qatari IT Al Othman said: “We will con- as we continue to invest in the accelerated the advancement digitizing the health care sector 2 pivotal projects i.e: The Digital service provider that supports tinue to exploit The Pearl- development of sustainable towards a wholly digital nation. thereby enabling the public to Farmer Community & the Virtual client needs in the deployment Qatar’s position as Qatar’s real- projects. We are also dedicated malomatia has the honour of receive medical consultation Consultation Platform. These and development of Smart Solu- estate development of choice to delivering properties in a being a part of this exceptional remotely. The platform enables solutions have a direct impact on tions, Platforms, Information and use our resources and timely manner and providing journey of charting new horizons, to keep all the caregivers, the citizens and residents of Security, Digital Transformation experience to create a sus- unparalleled residential devel- by means of two important medical sessions, and prescrip- Qatar by making their lives more & Analytics, System Integration, tainable commercial and social opments that improve the lives projects i.e The Digital Farmer tions on one platform thereby convenient especially during the IT Consulting, e- Healthcare, environment that contributes of our residents, and reward Community and Virtual reducing pressure on the physical pandemic. Application Services and Contact positively to the project’s shareholders and investors Consultations. medical entities by shifting care We reiterate our Center Services. investment returns. In line with over the long term”. GCC well positioned to be Ooredoo Group announces QR14.5bn revenue for H1 FROM PAGE 9 leader in renewable energy from Cisco. The company was continued to grow, driven by the EBITDA showed an 8 percent FROM PAGE 9 Compared to Q1 2021 Service part of the delegation repre- demand to convert prepaid to increase in H1 2021 compared to the impacts of climate Revenue grew by 6 percent and senting Qatar at the St. post-paid, resulting in a revenue same period last year. The com- Prof. Salvatore Carlucci, change, causing damages to Ooredoo ONE ‘All-In-One’ Home Petersburg International Eco- of QR1.2bn. pany’s focus on efficiency and Coordinator of the Task Force infrastructures and Service contributed to a 1 percent nomic Forum (SPIEF) in June and On May 20, Ooredoo Oman cost optimisation supported a on Built Environment, The buildings, disrupting liveli- growth in the Ooredoo tv cus- is optimistic regarding the announced the appointment of healthy EBITDA margin of 36 Cyprus Institute, focused on hoods and local economies, tomer base. The launch of new potential business opportunities Noor Al Sulaiti as Chief Executive percent in H1 2021. regional frameworks for destroying electricity and Post-paid plans bundling OTT created through its Officer, the first female CEO in Ooredoo Tunisia delivered a adaptation and mitigation water supply systems and contents and ongoing shift participation. one of Ooredoo Group’s key strong set of results despite measures and importance of transportation networks, towards app-based business Ooredoo Qatar continues its markets. effects of COVID-19 pandemic regional cooperation in the causing additional pressure delivery enhanced customer Digital Transformation Journey, The COVID-19 pandemic on the economy, with revenue Eastern Mediterranean and on the health and welfare convenience and boosted opti- providing customers best Digital continued to put pressure on of QR793m in H1 2021, an the Middle East climate systems due to deterioration misation efforts. Care, Sell and Payments expe- ’s performance increase of 8 percent compared change initiative. He empha- in human health and even- Ooredoo Qatar continued to rience. More than 10 percent of during the period. The company to the same period last year. sised on energy transition and tually resulting gin a further expand its business offering Ooredoo Qatar customers reported a slight increase in Indosat Ooredoo reported a climate action in the region. push to urbanization with during the period by strength- decided to buy Online, and more revenue of QR1.2bn in H1 2021. strong year on year growth with He noted, most frequent increased migration from ening its connectivity portfolio than 70 percent interact with EBITDA increased 13 percent in a 14 percent increase in revenue and stronger climate rural and coastal areas to and supplementing it with ICT Ooredoo Digitally to manage H1 2021, supporting an improved to QR3.8bn, up from QR3.4bn for extremes are exacerbating cities. services. Ooredoo as the lead their payments. EBITDA margin of 29 percent in the same period last year. Sub- consortium member launched The Communications Regu- H1 2021, up from 26 percent sequently, the company reported the TASMU Platform, a part- latory Authority’s Financial compared to the same period last a strong EBITDA growth of 24 China’s industrial profits rise in H1 nership with the Ministry of Sanctions Committee imposed year. percent to QR1.9bn and a 5 per- Transport and Communication QR3.5 million to Ooredoo Qatar Asiacell reported revenue of centage point EBITDA margin QNA — BEIJING in conjunction with an interna- for violating instructions issued QR1.7bn during the first half of increase, reflecting improve- tional consortium under the by the CRA. QR2 million were 2021, a decrease of 12 percent ments in operational efficiencies China’s major industrial companies saw a steady increase in profits patronage of His Excellency the fined due to Ooredoo’s non- due to the devaluation of the and top line growth. in the first half (H1) of this year amid a stable recovery in market Prime Minister and Minister of compliance with the rules appli- Iraqi Dinar by 17 percent, and an The political instability and demand and improving business performance, official data Interior. TASMU targets five pri- cable to access the intercon- improved EBITDA margin of 46 unrest in Myanmar significantly showed. ority sectors namely transpor- nection between licensed Service percent driven by ongoing cost impacted revenues as data Industrial firms with an annual business turnover of at least tation, healthcare, logistics, envi- Providers and QR1.5 million optimisation initiatives. access was restricted, and sub- 20m yuan (about $3.09m) raked in combined profits of 4.22 trillion ronment, and sports where were fined due to Ooredoo’s Despite partial home con- sequently Ooredoo Myanmar yuan during the period, up 66.9 percent year on year, data from advanced technology and inno- non-compliance with its obliga- finement measures imposed in reported a 16 percent decline in the National |Bureau of Statistics (NBS) vation can be harnessed to tions to file with the CRA and get Algeria, the main macroeco- revenue and 9 percent decrease showed. provide smart solutions and the CRA prior approval for tariffs nomic indicators in Algeria in EBITDA. However, with the Compared with the 2019 level, profits of major industrial firms applications. for fixed telecom services. started showing early signs of easing of restrictions in May and rose by 45.5 percent in the first half (H1) of this year. Additionally, Ooredoo Qatar Ooredoo Oman reported a recovery in economic activity June, data revenue improved, The expansion put the average first half (H1) growth for 2020 attained Dell Platinum Status decrease of 5 percent in rev- especially as the government and Ooredoo Myanmar wit- and 2021 at 20.6 percent, NBS data showed. and won ‘Emerging Partner of enues due to lower consumer launched its national vaccination nessed an increase in its cus- In the second quarter, industrial profits rose 36 percent year The Year’ and ‘Collaboration mobile prepaid revenue. programme. As a result of this tomer base by 400,000 in the on year, up 42.5 percent from the 2019 level. Partner of The Year’ awards However, post-paid revenue recovery, ’s second quarter of the year.