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Ooredoo Group net profit rises by 10% in 2019 on stable revenue, customer base broadens by 2%

Friday 14 February 2020 | 09:20 CET | News

Ooredoo Group has announced that its net profit for the year ended 31 December 2019 increased by 10 percent to QAR 1.73 billion from QAR 1.57 billion in 2018. There was an increase in EBITDA and a more favorable foreign exchange environment compared with 2018, but IFRS 16 had a negative effect on net profit. Revenue was stable at QAR 29.92 billion compared with QAR 29.93 billion, in spite of the industry-wide shift from voice to data consumption, lower handset sales and macroeconomic and currency weakness in some markets. 

EBITDA increased by 5 percent year-on-year to QAR 12.85 billion from QAR 12.20 billion in 2018 with a corresponding EBITDA margin of 43 percent, driven by efficiency programmes in some operating companies and the positive effect of the IFRS 16 accounting standard. The customer base was 117 million, up by 2 percent compared with 2018, mainly driven by new customers in Indonesia, Myanmar and Kuwait.

The board recommends the distribution of a cash dividend of QAR 0.25 per share. It has also approved a sustainable and progressive dividend policy for the company, aiming for a dividend payout in the range of 40 percent to 60 percent of normalised earnings.





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Categories: Mobile & Wireless
Companies: Ooredoo
Countries: Africa / Middle East
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