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Ooredoo Posts Net Profit of QR1.1 Bn

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Ooredoo Posts Net Profit of QR1.1 Bn Qamco posts net profit of QR95 million for 2020 PAGE 10 MONDAY, FEBRUARY 15, 2021 Ooredoo posts net profit of QR1.1 bn preciation of the Algerian Di- Board of directors proposes cash nar. Ooredoo Algeria reported dividend of QR0.25 per share revenue of QR2.3 billion in 2020, down 10 percent com- TRIBUNE NEWS NETWORK board recommends the distri- pared to the previous year. DOHA bution of a cash dividend of Sequentially, the company QR0.25 per share. recorded revenue growth, re- TELECOM major Ooredoo Ooredoo Group expanded flecting the initial stages of a Group on Sunday announced its customer base by 3 per- recovery as movement restric- that the company’s revenue cent to 121 million customers, tions eased and commercial declined by 4 percent year- boosted by additions in Iraq, activity resumed. on-year to QR28.9 billion in Indonesia and Myanmar. Ooredoo Algeria’s cus- 2020, due to the COVID-19 Ooredoo Group reinforced tomer base was 12.5 million in pandemic impact, a reduction its leadership as a digital ena- 2020 compared to 12.6 million in handset sales and roaming bler becoming the first op- in the previous year. business as well as macroeco- erator to launch prepaid 5G Despite challenging mac- nomic weakness in some of its internet in Kuwait, while in roeconomic conditions as a re- markets. Tunisia it registered the fast- sult of the COVID-19 pandem- This was partially offset by est 4G mobile data speeds in ic, Ooredoo Tunisia reported growth in Indonesia, Myan- the country. revenue growth of 3 percent to mar and Palestine, the com- Commenting on the re- QR1.5 billion, compared to the pany said in a statement. sults, Ooredoo Chairman previous year. The company’s EBITDA Sheikh Faisal Bin Thani Al The company reported declined by 6 percent year-on- Thani said, “Ooredoo Group EBITDA of QR650 million in year to QR12.1 billion in 2020, demonstrated the resilience of 2020, down 5 percent com- impacted by lower revenues its operations in 2020, deliv- pared to 2019, as billing and and challenging market condi- ering a net profit of QR 1.1 bil- collection cost increased as a tions across most markets. lion, maintaining healthy cash result of a slowing economy. The company maintains reserves and liquidity levels, Ooredoo Chairman Sheikh Faisal Bin Thani Al Thani Ooredoo Managing Director Aziz Aluthman Fakhroo The company’s focus on effi- its focus on digitalisation and and expanding its customer ciency and cost optimization cost optimisation, which has base despite of the challeng- cash dividend of QR0.25 per year declined to QR1.1 billion, by the 3 percent increase in fourth quarter in 2019. supported healthy EBITDA been reflected in a healthy ing environment. 2020 was a share at the annual general mainly due to lower EBITDA our customer base to 121 mil- Ooredoo Oman’s results margins of 43 percent in 2020. EBITDA margin of 42 percent year unlike any other, which meeting in March 3, 2021,” and to one off gains from the lion during these challenging were impacted by lockdowns Ooredoo Tunisia’s custom- for 2020. disrupted lives and challenged Sheikh Faisal said. Indonesian tower sales in times, supported by strong and movement restrictions er base in 2020 was 8.1 mil- Group net profit attribut- organisations. I am proud Also commenting on the 2019.” customer growth in Myanmar, designed to contain the spread lion, reaffirming its position as able to Ooredoo sharehold- of the role that we played in results, Ooredoo Manag- “Ooredoo Qatar pro- Indonesia and Iraq,” Fakhroo of the COVID-19 pandemic. the number one telecom play- ers decreased by 35 percent keeping communities con- ing Director Aziz Aluthman vided a solid performance in said. Revenues declined 7 percent er by customer market share year-on-year to QR1.1 billion nected and the economy mov- Fakhroo said, “I am pleased 2020 growing its customer Ooredoo Qatar delivered to QR 2.5 billion in 2020 com- while the company continued in 2020 mainly due to lower ing. Our focus on innovation to report a solid financial per- base at strong EBITDA mar- a solid performance in 2020, pared to the previous year. its network dominance by reg- EBITDA and one off gains and digitisation has enabled formance across our opera- gin, despite a range of chal- despite a range of challeng- Ooredoo Kuwait’s results istering the fastest 4G mobile in 2019 from the Indonesian us to seamlessly serve our tions, in spite of the COVID-19 lenges caused by COVID-19. es caused by the COVID-19 were impacted by softening data speeds in the nation. tower sales. customers through our digital pandemic and the challeng- Indosat Ooredoo delivered a pandemic. Reported revenue macroeconomic conditions Indosat Ooredoo delivered In the fourth quarter of channels while allowing our ing macro-economic environ- strong performance with rev- stood at QR7 billion, down 3 as a result of the COVID-19 a strong set of result in 2020, 2020, the net profit was nega- staff to work from home in a ment. Group revenues were enues and EBITDA increas- percent mainly as a result of pandemic as well as intense underpinned by its strategy tively impacted by foreign ex- safe and productive manner.” QR28.9 billion in 2020, down ing year on year by 4 percent the pandemic. market competition. The com- to offer simple, relevant, and change losses mainly due to “The global pandemic will 4 percent compared to the pre- and 11 percent, respectively EBITDA was QR3.7 bil- pany’s revenues declined 10% transparent products. The com- the devaluation of the Iraqi di- have a lasting impact on cus- vious year, due to macroeco- while Ooredoo Myanmar’s lion, 7 percent below 2019. to QAR 2.5 billion in 2020 pany reported revenue of QR7 nar and a one off impairment tomer expectations and the nomic weaknesses in some of market leading infrastructure Following service disruption compared to the previous billion in 2020, up 4 percent from an investment. way people use technology. our markets. Throughout the supported an increase in rev- during the period, customers year. Sequentially, revenues compared to the previous year. Data revenues accounted Ooredoo Group continues to year, we remained focused on enues, EBITDA and a 28% were provided with a 50 per- increased 6% in Q4 2020 com- The company’s invest- for more than 50 percent of invest in its digital transfor- our cost optimisation strategy, increase in its customer base,” cent discount on mobile bills pared to the previous quarter, ments in digitisation and total revenue driven by the mation strategy and network which enabled us to maintain Fakhroo said. as compensation, impacting reflecting the initial stages of a ongoing cost optimisations company’s data leadership capabilities to meet the evolv- a robust EBITDA margin of “Ooredoo Tunisia reaf- fourth quarter results. Cus- recovery. supported the expansion of and digital transformation ini- ing need of our customers and 42 percent in 2020. EBITDA firmed its position as the num- tomer numbers were 3.3 mil- Algeria continued to suffer its EBITDA margin to 46 per- tiatives across the countries. to help them unlock the true during the year was QR 12.1 ber one telecom player by cus- lion by year-end in line with from a weak macroeconomic cent in 2020 compared to 43 Ooredoo Group maintains value of new technologies. I billion, down slightly from tomer market share. Ooredoo 2019, with the mobile custom- environment, exacerbated by percent in 2019. EBITDA in- healthy cash reserves and li- am pleased to announce that QR12.8 billion in the previ- Group continues to witness er base growing by 1 percent the COVID-19 pandemic, in- creased 11 percent to QR3.2 quidity levels, and with a net the Board of Directors will rec- ous year due to the decline in strong demand for its product and the postpaid base grow- tense price competition and billion in 2020 compared to profit of QR1.1 billion, the ommend the distribution of a revenues. Net profit for the and services, as demonstrated ing by 10 percent compared to the 5 percent year on year de- last year. QNB wins 7 awards in Euromoney survey TRIBUNE NEWS NETWORK DOHA QNB Group, the largest financial institution in the Middle East and Africa, has received a leading en- dorsement for its private banking capabilities and per- formance by winning 7 trophies in the 2021 Euromon- ey Private Banking and Wealth Management survey conducted by the prestigious Euromoney magazine. All of the awards were received for QNB’s domestic performance in Qatar and included: High Net Worth Clients, Mass Affluent Clients, Mega High Net Worth Clients, Super Affluent Clients, Ultra High Net Worth Clients, Capital Markets and Advisory, and Technol- ogy- Innovative or Emerging Technology Adoption. Winning these awards comes as a testament to the Group’s leading position in the banking sector, repre- sented by its financial strength, high ratings, and the diversification of its portfolio of services and invest- ment products. Designed to meet the needs of high- net-worth (HNW) customers around the world, QNB private banking products are aligned with the nature of their investment business and financial solvency. These awards also reflect the Group’s innovation and outstanding performance in the private banking sector, with a focus on developing innovative finan- cial solutions along with mobile and internet bank- ing channels. The strong performance review by Eu- romoney was based upon comprehensive certified qualitative and quantitative criteria and standards across a range of measures.
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