Qatar’s Ooredoo posts nine-month revenue of QAR 16.9 bn

Revenue up 4% and free cash flow up 3%
Qatar’s Ooredoo posts nine-month revenue of QAR 16.9 bn
Ooredoo Qatar

Qatar Telecom Company Ooredoo reported revenues of 16.9 billion Qatari riyals for the nine-month period ending September 30, 2022, a 4 percent increase over the same period last year.

The group‘s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the period was 6.9 billion riyals, a decrease of 1 percent.

EBITDA has been normalized for two Indonesian non-recurring items – the data center deal in 2022 and the tower sale & lease back in 2021.

CAPEX for the period stood at 1.6 billion riyals. 

Free cash flow increased by 3 percent to reach 5.3 billion riyals, mainly driven by lower CAPEX.

Net profit increased by 33 percent to reach 2.1 billion riyals for the nine months ended 30 September 2022. NP has been normalized in the same manner as EBITDA plus impairments and FX impact. 

Moreover, the consolidated customer base stood at 55 million, driven by growth in most markets offset by a decline in Myanmar.