Telecom Services

Ooredoo Capex grows 5% to QAR 850 mn in March quarter

April 29, 2021

Ooredoo has revealed that the Capex touched QAR 850 million, registering 5 percent increase, during the first quarter of 2021.
Ooredoo’s Capex was QAR 2425.6 million in Q4 2019, QAR 811.2 million in Q1 2020, QAR 1295.9 million in Q2 2020, QAR 1308.5 million in Q3 2020 and QAR 2374.9 million in Q4 2020 – indicating that the Capex in the first quarter was the lowest.

Ooredoo’s Capex was QAR 360.3 million in Indonesia, QAR 144.8 million in Oman, QAR 93.6 million in Kuwait, QAR 77.8 million in Qatar, QAR 51 million in Tunisia, QAR 44.6 million in Qatar, QAR 40 million in Algeria, QAR 19.1 million in Myanmar and QAR 202 million for Wataniya.

Revenue

Ooredoo reported that its revenue declined 1 percent to QAR 7.2 billion in Q1 2021 due to a negative FX impact. Despite the COVID-19 pandemic excluding FX impact, revenue increased 1 percent, mainly driven by growth in our home market Qatar and in Indonesia.

Ooredoo’s EBITDA increased by 6 percent to QAR 3.2 billion in Q1 2021, as the company maintains its focus on digitalization and cost optimisation. EBITDA margin increased to 45 percent in Q1 2021 from 41 percent in Q1 2020, supported by EBITDA margin expansion in Indonesia, Kuwait, Iraq and Myanmar.

Group Net Profit decreased by 50 percent to QAR 193 million in Q1 2021 due to Foreign Exchange impact coming from Myanmar with an FX Loss in Q1 2021 versus an FX Gain in Q1 2020.

Data revenues account for more than 55 percent of total Revenue driven by data leadership and digital transformation initiatives across our operations.

Ooredoo Group appointed new CXOs as of 8 March 2021: Abdulla Ahmad Al Zaman as Group Chief Financial Officer, Fatima Sultan Al Kuwari as Group Chief Human Resource Officer, Nigel Thomas Byrne as Group Chief Technology Information Officer (GCTIO) and Rene Werner as Group Chief Strategy Officer.

Ooredoo Qatar appointed new CXOs as of 8 March 2021: Sheikh Nasser Bin Hamad Al Thani as Chief Commercial Officer, Eman Mubarak Al Khater as Chief Human Resources Officer and Eisa Mohammed Al-Mohannadi as Acting Chief Financial Officer.