Doha, Qatar, 28 July 2020: Vodafone Qatar P.Q.S.C. (“Vodafone Qatar” or the “Company”) announced its financial results for the six months ended 30 June 2020.
Key H1 2020 highlights compared to H1 2019
- Service Revenue increased by 3.4% to QR 1 billion
- Total Revenue increased by 1% to QR 1.1 billion
- EBITDA increased by 9% to QR 390 million
- Net Profit increased by 4% to QR 81 million
The Company reported a half-yearly Net Profit of QR 81 million, representing an increase of 4% year-on-year, mainly driven by higher EBITDA.
Service Revenue grew by 3.4% to reach QR 1 billion whilst Total Revenue increased by 1% to QR 1.1 billion, driven by the continued growth in Postpaid and higher home broadband revenue.
EBITDA for the period stood at QR 390 million, representing a strong improvement of 9% year-on-year positively impacted by higher service revenue, continued cost optimization initiatives, lower equipment cost and the reduction in mobile termination rates. EBITDA margin further improved by 2.6 percentage points to reach 36.3% in H1 2020.
In response to the Coronavirus pandemic, Vodafone Qatar was quick to activate its business continuity measures which has proved vital in minimising operational disruptions. The Company has continued to fully deliver services and products to all of its customers thereby facilitating remote work, learning and other digital needs.
Vodafone Qatar has remained focused on executing its defined strategy to support the continuation of the current growth trajectory of the Company. This includes expanding its GigaNet network by accelerating the deployment of fibre and 5G in several strategic locations across the country.
Throughout, the health and safety of Vodafone Qatar’s employees and customers has been the Company’s first priority and the Company was one of the first to switch to operating in a ‘digital’ mode, with currently more than 80% of its staff equipped and working remotely. Stringent health and safety regulations have been implemented in all Vodafone stores and safety measures are being taken in its offices.
The Company has also rallied behind national initiatives and supported the most vulnerable communities as part of its corporate social responsibility. Amongst those, all data usage charges have been removed for using EHTERAZ, Qatar’s COVID-19 risk detector app and the children of The Orphan Care Centre (Dreama) and the Protection and Social Rehabilitation Centre (AMAN), were provided with high-speed 5G internet, laptops and tablets to support their online learning.
|In QR million
(unless otherwise stated)
|Half Year Analysis|
|6 months ended 30 June||YoY Growth
|Total Mobile Customers (000)||1,650||1,763||-6.4%|
|EBITDA Margin (%)||36.3%||33.7%||2.6pp|