Ooredoo revenues climb to RO 285m in 2019

Telecom services provider Ooredoo has posted 0.7 per cent growth in revenues for the year 2019, which climbed to RO 285.5 million compared with RO 283.6 million in 2018. The growth was driven by higher fixed revenue and device sales, the operator said in audited consolidated results announced on Sunday.

EBITDA for the year stood at RO 157.4 million compared to RO 154.7 million for the year 2018. EBITDA for the year is affected by adoption of IFRS 16. Net profit for 2019 was RO 33.9 million compared with RO 41.9 million in the same period of 2018. Net profit for 2018 includes adjustment related to royalty on fixed revenue, it said.

Commenting on the results, Ian Dench (pictured) CEO said: “As the Sultanate’s data experience leaders, we have continued to make sure our customers can enjoy the internet through our great network, an awesome app-led digital experience and a host of innovative products and services.

Our 4G Supernet has gone from strength to strength and now covers 97 per cent of Oman’s population. We connected more individuals and companies with our fixed services and Super Fibre was rolled-out to a huge number of new locations, providing high speed internet connectivity to more homes.”

Ooredoo’s total customer based at the end of 2019 stood at 2,863,553. The fixed service customer base increased by 15.2 per cent to 168,669 customers as at the end of 2019 compared to 146,368 customers at the end of 2018. The mobile post-paid customer base grew by 17.7 per cent to 279,467 customers as at the end of 2019 compared to 237,523 customers at the end of 2018. The mobile pre-paid customer base decreased by 8.2 per cent to 2,415,417 customers as at the end of 2019 compared to 2,629,797 customers at the end of 2018.

“Customers also benefited from better access to devices through our eShop, which saw unprecedented growth for online sales,” said Dench. “Our B2B segment has also been busy, signing some key agreements to support the growth and development of businesses. We signed with Sandan Development to connect the Sandan Industrial Park; the first integrated light industry city in Oman with enhanced connectivity. And also with WJ Towell Group to connect the retail development project, Souq al Madina, opening soon in Madinat Al Sultan Qaboos’’.