DOCSLIB.ORG

Ooredoo Revenue Increases 3% to QR14.5 Bn in 2021 H1

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Ooredoo Revenue Increases 3% to QR14.5 Bn in 2021 H1 UDC posts QR157 mn net profit in H1 PAGE 9 THURSDAY, JULY 29, 2021 34,991.54 10,708.37 52443.71 1,806.10 DOW -66.98 PTS QE +39.97 PTS SENSEX -135.05 PTS GOLD +0.12 % Boeing records first profit since ‘19 on higher 737 MAX deliveries PAGE 11 PRICE PERCENTAGE PRICE PERCENTAGE 24.92 BRENT 74.63 +0.20 % WTI 72.26 +0.85 % SILVER +1.08 % QNCC posts Ooredoo revenue increases net profit of QR94 mn in first half 3% to QR14.5 bn in 2021 H1 QNA DOHA TRIBUNE NEWS NETWORK the sale and leaseback of Indosat the Indonesian tower sale and lease- DOHA Ooredoo’s tower assets (QR 1,000 back. Excluding these one-offs and QATAR National Cement Com- million). the FX impact, net profit increased pany (QNCC), a Qatar-based Qatar’s telecom major Ooredoo Excluding these one-offs and by 52 percent.” public shareholding company, on Wednesday announced that the FX impact, net profit increased by “In Qatar, our home market, we on Wednesday, disclosed the Group’s revenue stood at QR14.5 bil- 52 percent. recorded a strong performance with 5 interim financial statementfor lion in the first half of 2021, an in- Commenting on the results, percent growth in terms of revenue of the six-month period ending crease of 3 percent compared to the Ooredoo Chairman Sheikh Faisal as well as 2 percent rise in EBITDA. June 30, 2021. same period last year. bin Thani Al Thani said, “We had a Indosat Ooredoo continues to deliver The financial statements re- The revenue was mainly driven good first half of the year, with rev- robust results across the board, con- vealed a net profit of RQ 94.279 by growth in the company’s home enue increase of 3 percent as we fur- tributing significantly towards Group million in the first half of 2021 market Qatar, Indonesia, and Tuni- ther progressed our digital strategy, growth, with a 14 percent increase in in comparison to a net profit of sia. Excluding FX impact, revenue whilst effectively managing our costs revenue and an improved EBITDA QR68.286 million for the same increased by 5 percent. and overheads to support the growth margin of 50 percent,” Fakhroo said. period of the previous year. The Group EBITDA for the first half of of our business across our various “Cost control and efficiency earnings per share amounted 2021 was QR6.4 billion with a corre- markets. Consequently, our EBITDA measures resulted in a 13 percent im- to QR0.144 as of June 30, 2021 sponding EBITDA margin of 44 per- margin improved to 44 percent, up provement in EBITDA for Ooredoo against of QR 0.104 for the cent, driven by growth in Indonesia, from 42 percent for the first half of Kuwait and 8 percent for Ooredoo Al- same period in 2020. Qatar, Kuwait, Tunisia, and Algeria. 2020, despite the challenges present- geria. We recorded 8 2 percent more Qatar National Cement The EBITDA growth rate stood at ed to us due to COVID-19.” customers for Ooredoo Oman and 9 Company was established in 7 percent and at 10 percent excluding “Our response to the pandemic 2 percent more customers for Asia- 1965 and was listed on Qatar FX impact. and our robust strategy enabled us to cell, Iraq. Ooredoo Tunisia recorded Stock Exchange in 1997, with a The company’s consolidated cus- report solid operational and financial positive trends for revenue with an capital of QR653,528,940. tomer base increased by 1 percent performance. The confidence of our increase of 8 percent. Looking ahead, Meanwhile Qatar Indus- due to growth in Indonesia, Oman customers resulted in an increase of Ooredoo Chairman Sheikh Faisal bin Ooredoo Managing Director Aziz we remain optimistic about Ooredoo trial Manufacturing Company and Iraq, offsetting the decline in our customer base by an additional Thani Al Thani Aluthman Fakhroo Group’s growth potential and we (QIMC) also announced on other markets. one percent. We continue to focus on believe that we have made the right Wednesday that the com- The Group’s net profit attribut- providing reliable connectivity and Ooredoo Managing Director Aziz growth of 10 percent. Our Net Profit investments to continue delivering pany regsistered a net profit able to shareholders turned negative innovative products to our customers Aluthman Fakhroo said, “The posi- was impacted by an impairment of long term value for our shareholders, of QR63.35 million in the first due to impairments (QR2,341 mil- and are proud to be leading in this tive trend in 2021 is even stronger ex- the operation in Myanmar due to the customers and countries in which we half of 2021 in comparison to lion, mainly from Ooredoo Myan- space,” Sheikh Faisal said. cluding the FX impact with revenue uncertain political environment. The operate,” he said. QR42.384 million for the same mar) partially offset by profit from Commenting on the results, growth of 5 percent and EBITDA loss was partially offset by gains from (SEE ALSO PAGE 9) period of the previous year. Economy & Business Thursday, July 29, 2021 09 UDC posts QR157 mn net profit in H1 Company sold 89 completed residential units across The Pearl-Qatar, 3 plots in Giardino Village and 13 plots in Gewan Island in the first half of 2021 TRIBUNE NEWS NETWORK DOHA UNITED Development Company (UDC), a leading Qatari public shareholding compa- ny and the master developer of The Pearl- Qatar and Gewan Island, on Wednesday, announced that the company registered a net profit of QR157 million and revenues of QR1.2 billion in the first half of 2021. The net profit attributable to the equity shareholders was QR136 million and basic earnings per share was QR0.038. Commenting on the results, UDC Chair- man Turki bin Mohammed Al Khater said, “In the first half of 2021, UDC achieved a sustainable performance by balancing de- velopment activities across The Pearl-Qa- tar and Gewan Island with a continued fo- cus on commercial activities. This strategy, coupled with our rich portfolio of projects UDC Chairman Turki bin Mohammed Al Khater has enabled UDC to sustain a diversified revenue stream.” Khater said, “The financialresults show positive improvement resulted from sales and leasing revenues, especially with the handover of the majority of UDC’s latest residential units at Al Mutahidah Towers at The Pearl-Qatar. Committing to high standards of design, build quality, and in- novation, UDC consistently offers premi- um experiences and lifestyle opportunities across market segments; and its properties continue to be highly sought-after by local and foreign investors.” “Looking ahead to the remainder of the year, UDC will continue working on the completion of the development plan for the projects under implementation, includ- UDC started leasing units in the Al Mutahidah Towers from June this year. UDC President Ibrahim Jassim Al Othman ing United School International as well as Floresta Gardens and Giardino Village retail leases in the past six months, covering ised, while development of Gewan Bridge area of 2,232 sqm and will feature many properties in a timely manner and provid- gated residential compounds at The Pearl- an area of 18,000 sqm including The Pearl- continues with the bridge deck scheduled facilities including fine dining restau- ing unparalleled residential developments Qatar and Crystal Residence apartments in Qatar Commercial Showrooms. The Pearl- to be completed by the end of 2021.” rants, climatised outdoor seating, as well that improve the lives of our residents, and Gewan Island that are aligned with estab- Qatar has also welcomed 20 new stores since Commenting on the Company’s ex- as a cigar lounge, several meeting rooms, reward shareholders and investors over lished plans and timetables. They reflect the beginning of 2021, with 50 more brands pected performance for the second half of and many more services that help create a the long term.” our commitment to preserving sharehold- expected to open by the end of this year.” the year, Othman said, “We will continue leisurely feel. UDC is a leading Qatari public share- ers’ and investors’ values,” Khater said. Othman pointed that residential oc- to exploit The Pearl-Qatar’s position as Qa- Also in Porto Arabia, UDC is prepar- holding company with a mission to identify UDC President and Chief Executive Of- cupancy also thrived with 103 new rental tar’s real-estate development of choice and ing to inaugurate a fine dining restaurant and invest in long-term projects contribut- ficer and Member of The Board Ibrahim Jas- contracts signed for UDC properties, while use our resources and experience to create ‘Shirvan Métisse Doha’ in partnership ing to Qatar’s growth and providing good sim Al Othman said, “The first half results UDC sold 89 completed residential units a sustainable commercial and social envi- with world-acclaimed Michelin star Chef shareholder value. Established in 1999, the are in line with UDC’s strategy to focus on across The Pearl-Qatar, 3 plots in Giardino ronment that contributes positively to the Akrame Benallal that will introduce an en- company was first listed on the QatarE x- delivering projects that are currently under Village and 13 plots in Gewan Island. project’s investment returns. In line with tirely new fusion concept inspired by Old change in June 2003. It has an authorised development and as per the target comple- Othman said, “Gewan Island develop- that strategy, we have launched leasing in Silk Road food cultures and will equally share capital of QR3.5 billion and total as- tion schedules. We are fully committed to ment works are progressing steadily as Al Mutahidah Towers last June and will be enrich The Pearl-Qatar’s gastronomy sets of QR20 billion as of June 30, 2021.
Load more

Recommended publications
  • Ooredoo at a Glance 2021 (Read-Only)
    Ooredoo at a Glance Disclaimer • Ooredoo (Parent company Ooredoo Q.S.C.) and the group of companies which it forms part of (“Ooredoo Group”) cautions investors that certain statements contained in this document state Ooredoo Group management's intentions, hopes, beliefs, expectations, or predictions of the future and, as such, are forward-looking statements. • Ooredoo Group management wishes to further caution the reader that forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of risks and uncertainties including, but not limited to: • Our aBility to manage domestic and international growth and maintain a high level of customer service • Future sales growth • Market acceptance of our product and service offerings • Our aBility to secure adequate financing or equity capital to fund our operations • Network expansion • Performance of our network and equipment • Our aBility to enter into strategic alliances or transactions • Cooperation of incumBent local exchange carriers in provisioning lines and interconnecting our equipment • Regulatory approval processes • Changes in technology • Price competition • Other market conditions and associated risks • This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, suBscriBe for or otherwise acquire or dispose of securities in any company within the Ooredoo Group. • The Ooredoo Group undertakes no oBligation
    [Show full text]
  • Welcome to Ooredoo
    Ooredoo at a Glance Disclaimer • Ooredoo (Parent company Ooredoo Q.S.C.) and the group of companies which it forms part of (“Ooredoo Group”) cautions investors that certain statements contained in this document state Ooredoo Group management's intentions, hopes, beliefs, expectations, or predictions of the future and, as such, are forward-looking statements. • Ooredoo Group management wishes to further caution the reader that forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of risks and uncertainties including, but not limited to: • Our ability to manage domestic and international growth and maintain a high level of customer service • Future sales growth • Market acceptance of our product and service offerings • Our ability to secure adequate financing or equity capital to fund our operations • Network expansion • Performance of our network and equipment • Our ability to enter into strategic alliances or transactions • Cooperation of incumbent local exchange carriers in provisioning lines and interconnecting our equipment • Regulatory approval processes • Changes in technology • Price competition • Other market conditions and associated risks • This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in any company within the Ooredoo Group. • The Ooredoo Group undertakes no obligation
    [Show full text]
  • Ooredoo Group Fact Sheet Q4 2019 V1
    Ooredoo Group FY 2019 Fact Sheet (all data as of December 31, 2019) Group Overview “Enriching people’s digital lives as a leading international communications company” Company Ownership Profile Company Ownership Profile • The Ooredoo Group is a leading fixed and mobile telecommunications operator principally operating in Qatar, Indonesia, Kuwait , Iraq, Algeria, ADIA1 Others 10% 21% Tunisia, Myanmar and Oman • Customer base of over 117 million Other Qatari Government • Key regions of operation: Related Entities – Middle East & North Africa 17% State of – Asia Pacific Qatar • Incorporated in 1987 and listed on the Qatar Exchange (Doha Securities 52% 1Abu Dhabi Investment Authority Market) in 1998: – Market capitalization as of December 2019 QAR 21 bn • Strategic backing by the Qatari government Group Highlights Clear Strategic Path Financial Results • Three business lines - consumer mobile, consumer broadband, and corporate managed services (QARmn) 12M'16 12M’17 12M’18 12M’19 • Key geographies – Middle East and North Africa (MENA), and Asia Consolidated revenue 32,503 32,646 29,927 29,916 Pacific EBITDA 13,379 13,640 12,202 12,847 Strong free cash flow • Strong free cash flow for the group Net profit attributable to Ooredoo 2,193 1,897 1,565 1,725 shareholders Growth Assets in Emerging Markets • Customer base is solid, 117 million Earnings per share 0.68 0.59 0.49 0.54 • Ooredoo launched the world’s first commercially available 5G (QAR) network in the world • Ooredoo continues to be a data leader in its markets with 4G Share Price Performance
    [Show full text]
  • Ooredoo Q.P.S.C. Doha - Qatar
    Ooredoo Q.P.S.C. Doha - Qatar Condensed consolidated interim financial information for the three-month period ended 31 March 2021 Ooredoo Q.P.S.C. Condensed consolidated interim financial information for the three-month period ended 31 March 2021 CONTENTS PAGE(S) Report on review of condensed consolidated interim financial information ____________1 Condensed consolidated interim statement of profit or loss _______________________2 Condensed consolidated interim statement of comprehensive income ________________3 Condensed consolidated interim statement of financial position __________________4-5 Condensed consolidated interim statement of changes in equity___________________6-7 Condensed consolidated interim statement of cash flows _________________________8 Notes to the condensed consolidated interim financial information _______________9–26 REPORT ON REVIEW OF CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION TO THE BOARD OF DIRECTORS OF OOREDOO Q.P.S.C. Introduction We have reviewed the accompanying condensed consolidated interim statement of financial position of Ooredoo Q.P.S.C. (the "Company") and its subsidiaries (together referred to as the "Group"), as of 31 March 2021 and the related condensed consolidated interim statements of profit or loss, comprehensive income, changes in equity and cash flows for the three-month period then ended and explanatory information. Management is responsible for the preparation and presentation of this condensed consolidated interim financial information in accordance with International Accounting Standard 34 ‘Interim Financial Reporting’ as issued by the International Accounting Standard Board (IASB). Our responsibility is to express a conclusion on this condensed consolidated interim financial information based on our review. Scope of review We conducted our review in accordance with International Standard on Review Engagements 2410, ‘Review of interim financial information performed by the independent auditor of the entity’.
    [Show full text]
  • Ooredoo Q.P.S.C. Doha - Qatar
    Ooredoo Q.P.S.C. Doha - Qatar Condensed consolidated interim financial information for the six-month period ended 30 June 2021 Ooredoo Q.P.S.C. Condensed consolidated interim financial information for the six-month period ended 30 June 2021 CONTENTS PAGE(S) Report on review of condensed consolidated interim financial information ___________1 Condensed consolidated interim statement of profit or loss ______________________2 Condensed consolidated interim statement of comprehensive income _______________3 Condensed consolidated interim statement of financial position _________________4–5 Condensed consolidated interim statement of changes in equity_________________6–7 Condensed consolidated interim statement of cash flows _______________________8 Notes to the condensed consolidated interim financial information _____________9–30 REPORT ON REVIEW OF CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION TO THE BOARD OF DIRECTORS OF OOREDOO Q.P.S.C. Introduction We have reviewed the accompanying condensed consolidated interim statement of financial position of Ooredoo Q.P.S.C. (the "Company") and its subsidiaries (together referred to as the "Group") as at 30 June 2021 and the related condensed consolidated interim statements of profit or loss and comprehensive income for the three-month and six-month periods then ended, and condensed consolidated interim statements of changes in equity and cash flows for the six-month period then ended, and explanatory notes. Management is responsible for the preparation and presentation of this condensed consolidated interim financial information in accordance with International Accounting Standard 34 ‘Interim Financial Reporting’ as issued by the International Accounting Standard Board (IASB). Our responsibility is to express a conclusion on this condensed consolidated interim financial information based on our review. Scope of review We conducted our review in accordance with International Standard on Review Engagements 2410, ‘Review of interim financial information performed by the independent auditor of the entity’.
    [Show full text]
  • CAPEX/ Revenue (%) Free Cash Flow (Qarm)
    Ooredoo Group FY 2020 Results Feb 2021 1 Disclaimer • Ooredoo (parent company Ooredoo Q.P.S.C.) and the group of companies which it forms part of (“Ooredoo Group”) cautions investors that certain statements contained in this document state Ooredoo Group management's intentions, hopes, beliefs, expectations, or predictions of the future and, as such, are forward-looking statements • Ooredoo Group management wishes to further caution the reader that forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of risks and uncertainties including, but not limited to: • Our ability to manage domestic and international growth and maintain a high level of customer service • Future sales growth • Market acceptance of our product and service offerings • Our ability to secure adequate financing or equity capital to fund our operations • Network expansion • Performance of our network and equipment • Our ability to enter into strategic alliances or transactions • Cooperation of incumbent local exchange carriers in provisioning lines and interconnecting our equipment • Regulatory approval processes • Changes in technology • Price competition • Other market conditions and associated risks • This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in any company within the Ooredoo Group • The Ooredoo Group
    [Show full text]
  • Ooredoo Kuwait Pioneers in Human Rights and Sustainable Living
    For Immediate Release In cooperation with the United Nations Office for the Coordination of Humanitarian Day (UN OCHA) and in conjunction with the World Humanitarian Day Ooredoo Kuwait Pioneers in Human Rights and Sustainable Living Kuwait, Kuwait City: Climate change is a complex and long-term global problem that puts the lives of communities and the most vulnerable people at risk along with exposing them to the loss of their homes and livelihoods. With the continuation of the Covid-19 pandemic, the nature of human life was affected, as the number of patients and deaths has increased, the unemployment rate increased around the world, in addition to economic disasters and negative effects on the environment. Thus, the climate change crisis has become out of the hands of governments, yet, today we are facing a critical moment that calls for collective collaboration and cohesion of efforts to save those in dire need. This is a race for our planet. For our lives. For our future. Therefore, Ooredoo Telecom, the first to introduce innovative digital services in Kuwait, collaborated with the Office of the Coordination of Humanitarian Affairs (UN OCHA) to launch the “The Human Race” campaign, which coincided with the World Humanitarian Day. Hence, the campaign aims to raise public awareness on the need for solidarity with people most affected by the impacts of the climate emergency. For Immediate Release In its part, Ooredoo Kuwait have launched a SMS campaign in which text messages were sent to customers and published awareness posts and messages on its social media pages being a fertile platform that efficiently and effectively contribute to achieving the greatest level of awareness and encourage followers to take an serious role in participating and joining “The Human Race” campaign.
    [Show full text]
  • Q1 Results Presentation
    Ooredoo Group Q1 2021 Results April 2021 1 Disclaimer • Ooredoo (parent company Ooredoo Q.P.S.C.) and the group of companies which it forms part of (“Ooredoo Group”) cautions investors that certain statements contained in this document state Ooredoo Group management's intentions, hopes, beliefs, expectations, or predictions of the future and, as such, are forward-looking statements • Ooredoo Group management wishes to further caution the reader that forward-looking statements are not historical facts and are only estimates or predictions. Actual results may differ materially from those projected as a result of risks and uncertainties including, but not limited to: • Our ability to manage domestic and international growth and maintain a high level of customer service • Future sales growth • Market acceptance of our product and service offerings • Our ability to secure adequate financing or equity capital to fund our operations • Network expansion • Performance of our network and equipment • Our ability to enter into strategic alliances or transactions • Cooperation of incumbent local exchange carriers in provisioning lines and interconnecting our equipment • Regulatory approval processes • Changes in technology • Price competition • Other market conditions and associated risks • This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in any company within the Ooredoo Group • The Ooredoo Group
    [Show full text]
  • Ooredoo Group Q1 2021 Investor Call Transcript
    Ooredoo Group Q1 2021 Investor Call Transcript Sara Al Sayed, Investor Relation: Good afternoon, everyone, and Ramadan Kareem. Hello and welcome to Ooredoo's Financial Results Call. My name is Sara Al Sayed from the Investor Relations team. We are joined by speakers from various locations in Doha during this Zoom Call. Let me introduce my colleagues. We are joined by -- if you have joined our recent virtual bond roadshow you will be familiar with, Aziz Aluthman Fakhroo, Managing Director of Ooredoo Group, joined also by Sheikh Mohammed Al Thani, Deputy CEO, Ooredoo Group and CEO of Ooredoo Qatar; Abdulla Ahmed Al Zaman, the new Ooredoo Group CFO; Ajay Bahri, former Ooredoo Group CFO and now Advisor of the Group MD. All bios are available in the investor deck. Aziz will start the presentation with key financial highlights and consolidated results followed by OpCo result information by Sheikh Mohammed and our Group CFO Abdulla. We keep the presentation brief to allow sufficient time for your questions. The presentation is available on our website ooredoo.com, as well as on the webcast. Please do note the usual disclaimer on Slide number 2. So, to begin, I will now hand over to Aziz. Aziz Aluthman Fakhroo, Managing Director of Ooredoo Group: Good afternoon, everyone. Thank you for joining the call. We are happy to start the year on a very strong foot. As you will see with our results, our revenues are flat year-on-year, actually it has a slight decline of 1% at QAR7.2 billion for the first quarter.
    [Show full text]
  • Ooredoo Group Announces QR14.5Bn Revenue for H1
    Business 09 THURSDAY 29 JULY 2021 Charting Qatar’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 Ooredoo 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 Ooredoo Oman 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. Ooredoo Tunisia 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.
    [Show full text]
  • Annual Report 2020 Digital Diversity for a New Era
    Annual Report 2020 Digital Diversity for a New Era Ooredoo Q.P.S.C | West Bay, PO Box 217, Doha-Qatar | T: +974 4440 0400 | www.ooredoo.com His Highness Sheikh Tamim Bin Hamad Al Thani Amir of the State of Qatar “In the Name of Allah Most Gracious Most Merciful.” Annual Report 2020 Contents Chairman’s Message 6 Key Moments of 2020 20 Corporate Governance Report 48 Managing Director’s Message 8 Awards and Industry Independent Assurance Report Recognition 24 on Compliance with Qatar Financial Markets Authority Laws and relevant legislations 70 Independent Assurance Report on Internal Control over Financial Reporting 72 Board of Directors 10 Our Social Responsibility 74 Creating Our Businesses 26 Financial Review 80 Ooredoo Qatar 28 a digital Indosat Ooredoo 30 Ooredoo Kuwait 32 Operational and future Financial Highlights 12 Ooredoo Oman 34 Asiacell Iraq 36 Consolidated Financial Statements 84 Ooredoo Algeria 38 Independent Auditor’s Ooredoo Tunisia 40 Report 86 Ooredoo Myanmar 42 Our Assets 14 Consolidated Statement of Profit and Loss 92 Ooredoo Palestine 44 Our Reach 16 Consolidated Statement Ooredoo Maldives 46 Our Strategy 18 of Comprehensive Income 93 Consolidated Statement of Financial Position 94 Consolidated Statement of Changes in Equity 96 Consolidated Statement of Cash Flows 98 Notes to the Consolidated Financial Statements 100 Ooredoo Annual Report 2020 Chairman’s Message Strong foundations for success “This was a year unlike any other, which disrupted lives and challenged organisations. We can be proud that Ooredoo was ready to manage the impact of a shock like the global COVID-19 pandemic, and responded quickly, resolutely and with determination to keep our customers connected and enrich their digital lives.” H.E.
    [Show full text]