VODAFONE QATAR NET PROFIT INCREASES QR 303 MILLION YEAR ON YEAR
Doha, Qatar, 22 October 2018: Vodafone Qatar P.Q.S.C. (“Vodafone Qatar” or the “Company”) today announced its financial results for the nine months ended 30 September 2018.
- 5% growth in Total Revenue year-on-year
- 16% increase in EBITDA year-on-year
- QR 303 million increase in Net Profit year-on-year
- 24% increase in Postpaid Customers year-on-year
Vodafone Qatar continued to deliver improvements in its financial and operational performance with postpaid and fixed growth driving an increase in Service Revenues whilst the Company’s cost optimization program enhanced profitability.
Total Revenue for the nine months ended 30 September 2018 grew by 5% year-on-year to reach QR 1,535 million driven by a growth in postpaid subscribers, corporate internet connections and handset sales.
EBITDA increased by 16% year-on-year for the nine months to QR 425 million with higher revenue and lower costs as a result of the cost optimization program. Consequently, the EBITDA Margin improved by 2.6 percentage points to reach 28%.
The Company reported Net Profit of QR 75 million for the nine months, an increase of QR 303 million compared to the same period of last year.
Postpaid customers at 30 September 2018 grew by 24% year-on-year. This, together with higher Service Revenue, resulted in Average Revenue Per User (ARPU) increasing by QR 12 year-on-year to reach QR 103.
Commenting on the results, Vodafone Qatar’s CEO, Sheikh Hamad Abdulla Jassim Al Thani, said: “I am very pleased with the Company’s positive financial performance driven by a clear strategy and an effective cost optimisation programme. We continued our growth plans by delivering innovative products and unmatched customer experiences across our core mobile offering, on top of expanding our rapidly growing fixed-line proposition.
In August, we proudly switched on our first live 5G network and roll out is now well underway in the country. In parallel, we are working with several important entities to roll out our fixed services. Finally, in September, we became one of the first operators in the region and the first in Qatar to introduce eSIM technology.”
About Vodafone Qatar P.Q.S.C
Vodafone Qatar P.Q.S.C. ("Vodafone Qatar") provides a range of services including voice, messaging, data and fixed communications in the State of Qatar. Vodafone Qatar commenced commercial operations in Qatar on 1 March 2009 with around 1.4 million customers now actively using Vodafone’s services supported by the Company’s state of the art network. Having built a converged IP network, in October 2012 Vodafone Qatar launched
a comprehensive range of fibre-based enterprise grade and residential fixed products and services. Through this fibre connectivity, Vodafone Qatar is set to become a total communications provider contributing to the country’s digital agenda. Vodafone Qatar’s purpose is to inspire everyone to live a better today and build a better tomorrow. By being the most innovative digital company-blending the best of technology and human interaction in a personal, instant and simple way. Please visit www.vodafone.qa for more details.
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