Ooredoo Group reported a revenue lift of 4% in its 2022 full financial year, from QAR21.9 billion to QAR22.7 billion, as the company saw gains across most of its units.
Net profit for the group in the full year grew 27% from QAR2.2billion to QAR2.8 billion, although net profit in 2021 was affected by a QAR2.3 billion impairment loss in its exit process from Myanmar, and a QAR1 billion gain from tower sales in Indonesia.
Its customer base stood at 56 million driven by growth across most of its markets which offset the decline from losses seen from Ooredoo Myanmar. Capex for the group was QAR2.7 billion.
Ooredoo Qatar saw “record-breaking” revenue due to the FIFA World Cup with revenue up 7% to QAR8 billion. The gains stemmed from postpaid services, TV, ICT services and increased sale of devices.
Ooredoo Tunisia was reported to see success in the fibre market with major contract wins in the private sector, as the company enacted a fibre rollout which resulted in EBITDA margin of 44%.
Ooredoo Group managing director Aziz Aluthman Fakhroo said: “Driven by our digital transformation strategy, we are effectively capitalizing on market opportunities and are confidently poised for further success. Our ability to remain agile and adapt to the rapidly evolving nature of the markets in which we operate positions us well for continued growth and strong returns.”
The company also wrapped up a merger between Indosat Ooredoo and 3 Indonesia, forming Indosat Ooredoo Hutchison (IOH).