Ooredoo Q414 net profit collapses by 89%

Ooredoo announced that as of December 31, 2014, the Group’s consolidated customer base stood at 107 million, representing year-on-year growth of 12 per cent. Group revenue for the twelve months 2014 decreased by two per cent to QAR 33.21 billion (US$9.12 billion). Group EBITDA stood at QAR 12.95 billion, down 11.5 per cent, while Ooredoo’s EBITDA margin decreased to 39 per cent from 43 per cent a year earlier due to the continued strategic investments across the business into broadband networks, customer acquisition and retention, global brand roll-out, service launches and customer experience. Net profit attributable to Ooredoo shareholders for 2014 was QAR 2.13 billion, down 17 per cent year-on-year.

For the quarter to December 31, the operator reported flat revenues at QAR 8.37 billion, while EBITDA fell by 21 per cent year-on-year, and net profit attributable to Ooredoo shareholders collapsed by 89 per cent to QAR 55 million.