Vodafone Qatar announces Q3 financial results
18 January 2010: Today Vodafone Qatar announced its third quarter financial results for nine months to 31 December 2009, showing a revenue performance that is 46% ahead of their plan in the reported period.
"To put it simply, we're exceeding expectations - particularly on customer numbers which is the key driver to outperforming future financial targets," said Vodafone CEO Grahame Maher.
- 353,580 Customers at 31 December which is 84% ahead of plan
- 22% population share as of 31 December
- QAR 171 ARPU for the three months to 31 December
- Revenue of QAR 216.8m for the nine months to 31 December, which is 46% ahead of plan.
- Despite this rapid growth ahead of our plan we are successfully managing our operating costs to be in line with our plan.
- EBITDA loss of QAR 185.9m for the nine months to 31 December which is in line with our plan.
"All our financial results and key performance indicators are in line or ahead of our annual plan which is the first year outlined in our IPO prospectus", commented Vodafone Qatar's CFO John Tombleson.
The third quarter of Vodafone's financial year was distinguished by continued success on the strength of Vodafone Qatar's promotions. Vodafone has more than doubled its customer base in the last quarter with 353,580 customers as of 31 December, representing 22% of the population.
Customers made heavy use of international calling promotions in the third quarter, making over 70 million minutes of international calls during November. Vodafone Qatar's ongoing promotion of up to 300 MB of free mobile internet per month also prompted over 40 percent of Vodafone's customers to make active use of this service, one of the highest concentrations in the Vodafone Group globally.
In December Vodafone's world class network achieved coverage of 100% of Qatar providing all their customers with great service and meeting the final obligation imposed by ictQATAR as part of the mobile license. In the last quarter of the financial year, Vodafone will continue its progress in converting temporary cell sites to permanent ones, with almost 100 sites converted so far.
Vodafone began the fourth quarter with a nationwide domestic calling promotion announced 16 January which grants 2,010 free Vodafone-to-Vodafone minutes to all existing Vodafone customers, as well as those who join Vodafone by the end of February. This promises to have a profound impact in the marketplace.
"As great as the first three quarters have been for Vodafone, we aim to outdo these successes over the next three months," said Maher.
Vodafone plans in the upcoming quarter to release a series of highly anticipated services including BlackBerry® and mobile broadband, to be followed by Vodafone Money Transfer, a mobile cash service, later in the year subject to regulatory approval. Other focuses for the mobile operator include greater innovation with payment and billing systems, complex enterprise solutions, and the development of Vodafone Qatar's fixed-line business.
Vodafone Qatar's financial year will end 31 March 2010.