Ooredoo 1H Revenue Increases 4.7% to QAR 17.1 billion

Doha, July 30 (QNA) - Ooredoo Q.S.C.(Ticker: ORDS.QA) today announced results for the six months ended 30 June 2013. The Group 1H Revenue reached QAR 17.1 billion compared to QAR 16.4 billion in the same period last year. During the first half of 2013 Group revenue grew by 4.7 percent year-on-year driven by strong performance from international group operations in Algeria, Indonesia and Iraq, the Group said in a press release on Tuesday. As at 30 June 2013, the Groups consolidated customer base stood at 92 million compare to 84 million in1H 2012, representing year-on-year growth of 10 percent. Group EBITDA in the period decreased by 1.7 percent year-on-year to stand at QAR 7,662 million (1H 2012: QAR 7,798 million). EBITDA margin at the end of 1H 2013 was 45 percent (1H 2012: 48 percent). Net profit attributable to Ooredoo shareholders rose to QAR 1,731 million, representing a 28.1 percent year-on-year increase (1H 2012: 1,352 QAR 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: "During the first half of 2013 we have achieved a number of milestones. Our brand has been transformed, powering our drive and ambition. Our strong revenue performance has continued as planned, driven by further market share gains and closer customer engagement across some of our key markets. Net profit attributable to Ooredoo shareholders has increased 28% compared to the first half of last year. And now, we stand ready to enter our newest market, Myanmar, following the award of the license there last month. Our aim as in each of the markets across our footprint is to offer our customers a world-class next-generation network as a trusted partner and provider of choice." For his part, Dr. Nasser Marafih, Group Chief Executive Officer of Ooredoo said: "The strength of our offering and our strategic focus moving us ever closer to our goal of becoming one of the worlds leading operators. We take a targeted, sensible and strategic approach to acquisitions, pursuing only those that serve the best interests of the Group and that generate value from the investments we make. We look to the second half of the year with confidence that our growth momentum will continue." The press release gave a summary of the operations performance pointing that Ooredoo Qatar continued to play a pioneering role within the Group, becoming the first operation to adopt the new Ooredoo brand on 11 March 2013. It also produced a strong set of results during the quarter, with revenue growing by 4.7 percent year-on-year to 3.2 QAR billion (1H 2012: QAR 3.0 billion) and a consolidated customer base of 2.75 million (1H 2012: 2.43 million). EBITDA performance showed a decrease of 2.8 percent year-on-year to QAR 1.60 billion (1H 2012: QAR 1.64 billion). Ooredoo's subsidiary in Indonesia (Indosat's) consolidated customer base stood at 56.6 million (1H 2012:51.1 million). Revenue in 1H 2013 grew by 6.8 percent year-on-year to QAR 4.38 billion (1H 2012: QAR 4.10 billion) and EBITDA slightly decreased 0.4 percent year-on-year to stand at QAR 2.09 billion (1H 2012: QAR 2.11 million). The press release noted that Wataniya Telecom ("National Mobile Telecommunications Company in Kuwait) encompasses the Ooredoo Groups businesses in Kuwait, Tunisia, Algeria, Kingdom of Saudi Arabia, the Maldives and Palestine. Wataniya Telecom released 1H 2013 financial results on July 24. Wataniya revenue for 1H 2013 was QAR 4.86 billion: a year-on-year increase of 0.6 percent (1H 2012: QAR 4.83 billion) while EBITDA stood at QAR 1.94 billion (1H 2012: QAR 2.02 billion). According to the press release, Ooredoo's Nawras in Oman released 1H 2013 financial results on July 29 stating that at June 30 2013, Nawras consolidated customer base stood at 2.3 million customers (1H 2012: 2.0 million) with revenue for 1H 2013 of QAR969 million (1H 2012: QAR 939 million). Nawras EBITDA stood at QAR 443 million (1H 2012: QAR 456 million). In Iraq, Asiacell continues to progress, building upon the foundations of its highly successful IPO earlier in the year. Customer numbers and top line revenues within this business continue to increase despite sustained high level of competition, the release said. In 1H 2013 Asiacell delivered revenue of QAR 3.50 billion (1H 2012: QAR 3.33 billion), representing year-on-year growth of 5.3 percent. EBITDA in 1H was up slightly by 1.2 percent year-on-year to QAR 1,860 million (1H 2012: QAR 1,838 million). Ooredoo is a global communications company that provides mobile and fixed-line communications services, broadband Internet and cusome made services for companies designed in the various markets in the Middle East, North Africa and Southeast Asia. Ooredoo is currently operating in Qatar, Kuwait, Oman, Algeria, Tunisia, Iraq and Palestine, the Maldives and Indonesia. Its revenues at the end of last year, reached USD 9.3 billion , while its customers consolidated base reached 92.9 million customers. The company's shares are listed on the Qatar Exchange and Abu Dhabi Securities Exchange. (QNA)