27-10-2021
Ooredoo announced its quarterly financial statements for the period ending on 30 September 2021, where a net loss amounted to 759,551,000 Qatari riyals, compared to a net profit of 1,468,217,000 Qatari riyals for the same period last year.
Also, a loss per share amounted to 0.24 Qatari riyals in the third quarter of the year, September 30, 2021, compared to earnings per share of 0.46 Qatari riyals for the same period in the previous year.
• The net profit of the group allocated to Ooredoo shareholders turned negative due to the exchange rate losses and the depreciation in Myanmar. The negative impact was partially offset by the profits achieved by the company as a result of the agreement to sell and lease back the telecom towers of Indosat Ooredoo (which amounted to 1,000 million riyals QR) and the reflection of the effects of the Covid-19 pandemic on the exchange rate. Excluding the effects of those events that are recorded once and excluding the impact of the exchange rate, the net profit would have increased by 41%.
• Group EBITDA for the first nine months of the year amounted to QR 9.9 billion, while EBITDA margin reached 45%, driven by growth in Indonesia, Kuwait and Algeria. The EBITDA growth rate reached 7%, and reached 10% when excluding the effect of foreign exchange.
• Revenues at the end of the first nine months ending on 30 September 2021 amounted to QR 22.1 billion, which is an increase of 3% compared to the same period of the previous year. This was driven by growth in our first market, Qatar, and in Indonesia and Tunisia. Excluding the impact of the exchange rate, revenue would have increased by 6%.