Ooredoo Group said its revenue increased by 2 percent to QAR 17.7 billion in 9 months of 2024 from QAR 17.2 billion.
Ooredoo has achieved strong operational performance in telecom markets such as Iraq, Algeria, Kuwait, Tunisia and Maldives. Ooredoo faced decrease in revenue in Qatar and Oman.
The increase in revenue demonstrates the positive return on investments while ensuring excellence in customer service. The combination of fixed asset investments, introduction of new and innovative products and improving customer satisfaction across the markets continue to support our bottom line and deliver sustained growth.
Ooredoo’s capital expenditure or Capex rose to QAR 1.9 billion, marking a 22 percent increase, primarily due to increased investments in Iraq, Kuwait, Oman, Algeria, Tunisia and Qatar.
Ooredoo Group’s mobile phone customer base decreased by 11 percent (increased by 5 percent excluding Ooredoo Myanmar) to 50.7 million customers for 9M 2024. Including IOH, the customer base reached a total of 149.4 million, up by 1 percent (excluding Myanmar).
Ooredoo Qatar revenue fell 4 percent to QAR 5,276 million. Ooredoo Qatar increased its customer base by 1 percent, reaching 3.0 million. Ooredoo Qatar partnered with Oracle to drive digital innovation, operational excellence, and customer-centric solutions. Capex of Ooredoo Qatar was $340.9 million in 9-months.
Ooredoo Kuwait revenue grew 6 percent to QAR 2,328 million driven by an increase in service revenue due to higher usage of data and digital services and equipment revenue. Ooredoo Kuwait’s customer base remained flat, ending the period with 2.9 million customers. Capex of Ooredoo Kuwait was $192.7 million.
Ooredoo Oman’s revenue dropped 2 percent to QAR 1,786 million. Ooredoo Oman closed the period with 2.8 million customers on its network. Ooredoo Oman is extending its 5G network and testing 5.5G, as well as conducting interactive marketing campaigns. Capex of Ooredoo Oman was $357.4 million.
Asiacell Iraq revenue grew 19 percent to QAR 3,847 million. Asiacell added 9 percent more customers to its network to reach a customer base of 18.6 million. Capex of Asiacell Iraq was $416.2 million.
Ooredoo Palestine customer base increased 8 percent to 1.5 million. Revenue decreased by 2 percent to QAR 299 million. 22.5
Ooredoo Algeria revenue grew by 16 percent to QAR 2,097 million, primarily driven by growth in data and digital revenue. Ooredoo Algeria expanded its customer base by 10 percent to 14.5 million helped by network densification which is improving customer satisfaction. Capex of Ooredoo Algeria was $293.6 million.
Ooredoo Tunisia revenue grew 4 percent to QAR 1,142 million powered by strategic investments in the fixed business. The customer base fell 4 percent to 7.0 million. Capex of Ooredoo Tunisia was $207 million.
Indosat Ooredoo Hutchison (IOH)’s revenue grew 12 percent to IDR 41.812 billion. The company expanded its 4G BTS network by 12.5 percent to 193,562 sites, supporting a 12.5 percent increase in data traffic and enhancing customer experience.
Ooredoo Maldives revenue increased 6 percent to QAR 387 million backed mainly by growth in the mobile segment. The customer base increased by 2 percent to 399k customers. Ooredoo’s 5G covers 60 percent of the population in the Maldives. Capex of Ooredoo Maldives was $50.1 million.
Baburajan Kizhakedath
