Ooredoo reports a net profit of QAR2.1bn in 2014

Ooredoo Group today announced results for the year ended 31 December 2014, revealing a net profit of QAR 2.1 billion.
An Ooredoo press statement said that earnings per share in FY 2014 stood at QAR 6.66 as compared to QAR 8.05 in FY 2013, adding that the Board of Directors recommended a Cash Dividend of 40% of Nominal Share Value (QAR 4 per share).
The company's statement said that the number of customers increased by 12% to reach 107 million, driven by the Indonesian, Iraqi, Kuwaiti, Myanmar and Algerian markets.
FY 2014 Group revenue down by 2% to QAR 33.2 billion; strong performances in Qatar, Oman and Algeria; challenging market conditions in Iraq, Kuwait, Tunisia and Indonesia.
EBITDA of QAR 12.9 billion and EBITDA margin of 39% reflect Ooredoo's continued strategic investment into its broadband networks, global brand roll-out and customer acquisition costs. In addition, aggressive price competition in Iraq, Myanmar start-up costs, Indonesian currency depreciation and the Iraqi security situation also affected EBITDA and EBITDA margin. Excluding the impact of Indonesian Foreign Exchange, Myanmar start-up costs and one-off customer acquisition costs in Algeria, EBITDA would have decreased by 5% compared to the reported 12% reduction. Excluding these three items, Net Profit to Ooredoo shareholders for the FY 2014 would have decreased by 8% and for Q4 2014 by 22%.
FY 2014 data revenue represented 25% of Group revenue due to Ooredoo's strategy to increase smart phone penetration, deliver innovative new bundles and data offers for customers.
 Group B2B revenue amounted to more than QAR 4.5 billion for FY 2014; B2B customer numbers up 25% Ooredoo Myanmar launched commercially in August 2014; by 31 December 2014 it had gained 2.2 million customers. More than 80% of customers are using smart phones, generating strong ARPUs with high data revenue contribution.
Asiacell secured a 3G licence in December 2014 and launched 3G services in January 2015.
Ooredoo global brand now adopted by seven Ooredoo operators: Qatar, Algeria, Maldives, Tunisia, Myanmar, Kuwait and Oman.
Commenting on the results, HE Chairman of Ooredoo Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani said: "Ooredoo is rapidly positioning itself at the heart of the digital future of our customers. Mobile infrastructure is an essential enabler of a country’s economic prosperity, particularly in developing markets. Our financial results for 2014, despite the challenges we have faced in some of our markets, demonstrate how Ooredoo is increasingly playing its role in supporting the economic growth in our markets.
Also commenting on the results Group Chief Executive Officer of Ooredoo Dr Nasser Marafih said: "Ooredoo made significant progress against its strategy during 2014 despite facing sustained, high levels of competition, adverse currency movements and the current security situation in Iraq."