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VODAFONE QATAR REPORTS HIGHEST QUARTERLY NET PROFIT

Doha, Qatar, 22 April 2020: Vodafone Qatar P.Q.S.C. (“Vodafone Qatar” or the “Company”) today announced its financial results for the three months ended 31 March 2020.

Key Quarter highlights compared to Q1 2019:

  • Service revenue increased by 7.2% year-on-year to QR 508 million
  • Total Revenue increased by 1% year-on-year to QR 541 million
  • EBITDA increased by 11% year-on-year to QR 200 million
  • EBITDA Margin increased by 3.2pp year-on-year to 37%
  • Net Profit increased by 10% year-on-year to QR 48 million

Financial Summary

For the three months ended 31 March 2020, Vodafone Qatar reported Net Profit of QR 48 million representing an increase of 10% year-on-year; the Company’s highest achieved quarterly net profit.

Total revenue increased by 1% year-on-year to reach QR 541 million driven by continued growth in the Company’s Postpaid and Fixed Broadband services (GigaHome). Service Revenue grew by 7.2% to reach QR 508 million. Vodafone Qatar is now serving 1.73 million mobile customers.

EBITDA for the period increased by 11% year-on-year to reach QR 200 million positively impacted by higher service revenue, the continued effectiveness in implementing the Company’s cost optimisation programme, and lower local termination rates. Consequently, EBITDA Margin rose by 3.2 percentage points to 37%.


 

-ENDS-

About Vodafone Qatar P.Q.S.C

Vodafone Qatar P.Q.S.C. ("Vodafone Qatar") provides a comprehensive range of services including voice, messaging, data, fixed communications, IoT and ICT managed services in the State of Qatar, for both consumers and businesses alike. The Company commenced commercial operations in 2009 and has 1.7 million customers as of 30 September 2019. Its state-of-the-art network infrastructure is expanding to cover key locations in the country with 5G and fibre connectivity, along with an extensive digital ecosystem, which will contribute to Qatar's continued growth and prosperity. Vodafone Qatar’s vision is deeply rooted in its mission to connect today’s ideas with the technologies of tomorrow by pioneering digital innovation and becoming people’s first choice in telecom and digital services. Please visit www.vodafone.qa for more details.

For press enquiries, please contact:
Lana Khachan
Head of Communications
Vodafone Qatar
E-mail: lana.khachan@vodafone.com

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