8 million dinars, “Ooredoo” profit in the first quarter

– Mohammed Al Thani: We focus on digital transformation and the expansion of our services and products
Abdulaziz Al-Babtain: We have made qualitative leaps in the world of technology and cyber security

The National Mobile Communications Company “Ooredoo” announced its financial results for the first quarter of 2022, where the company’s net profit was 8 million dinars, compared to one million dinars for the same period last year, and explains that it supports strongly got. of the improvement in operating and financial income in “Ooredoo Kuwait” and Ooredoo Tunisia, Ooredoo Algeria, Ooredoo Palestine and Ooredoo Maldives.

The company stated that revenue before interest, tax, depreciation and amortization increased by approximately 10% to reach 56 million dinars in the first quarter of 2022, compared to 51 million dinars in the first quarter of 2021, while consolidated revenue increased by 5. % to reach 153 million dinars in the first quarter of 2022 compared to 146 million for the same period of 2021, noting that revenue in dinars was positively impacted by the gradual easing of restrictions, while revenue in Palestine reached a record level and Tunisia and Algeria’s revenues have shown healthy growth in local currency.

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Consolidated earnings per share amounted to 17 fils, compared to 2 fils per share for the same period in 2021, while the consolidated customer base reached 24 million customers at the end of the first quarter of 2022.

strong start

Ooredoo Kuwait chairman Sheikh Mohammed bin Abdullah Al Thani commented on the results: “The company has seen a strong start this year and achieved very good results in the first quarter. During that period we saw how the restrictions imposed was relieved by the Corona pandemic in Kuwait, and we generated revenue In Palestine, Tunisia and Algeria continued to achieve continuous growth in local currency, leading to a sharp increase in total revenue and a stronger performance for the company .

He indicated that consolidated revenue increased by about 5% to reach 153 million dinars, and revenue before calculating interest, tax, depreciation and amortization increased to 37%, explaining that in Kuwait, revenue increased by 14% while improving operational efficiency. to an increase in income before interest and tax, depreciation and amortization by 17 percent.

He added: “In Tunisia, the company’s revenue increased by about 3 percent in local currency. In Algeria, we also achieved good numbers, the most prominent of which are the increase in revenue before interest, tax, depreciation, amortization and amortization with 11 percent, and revenue amounted to 45.4 million dinars in the quarter, while in Palestine revenue increased by 5% to 8.7 million dinars, driven by a 4% increase in the customer base, to 1.4 million. The recovery in the tourism sector increased our revenue in the Maldives by 9 percent, and EBITDA increased by 10 percent in the quarter. ”

Al-Thani said that in 2022, the company will continue to focus on digital transformation in its core markets and on expanding its services and products, with its eagerness to continue to expand and diversify its customer base, adding: “We are still optimistic about achieving more good things. Results for the rest of the year, which we look forward to reporting on in our future reports.

leading position

Commenting on the results of the first quarter, Abdulaziz Al-Babtain, CEO of Ooredoo Kuwait, said: “The company has made quantum leaps in the world of technology, cyber security and security services, making it a well-known company with a leading position in the world of innovative digital services and information and communication technology.He emphasized that these impressive results would not have been achieved without the internal changes, which are significantly reflected in the company’s financial performance and the prosperity that has taken place compared to the local market.

He added, “With the diversity of customer groups, we have varied methods to satisfy them, so we have created various campaigns to reach different segments of society, which has led to an increase in the number of customers, which is their great trust. in us. “

Ooredoo explained that in the context of constant change, the desires and needs of customers, both individuals and companies, change. Therefore, Ooredoo business, the trusted technology partner for business solutions, continues to improve the quality of its services and announce the latest innovations set. which is making a qualitative leap in the telecommunications sector in the country.

In this context, the company introduced the “Push-to-Talk” service, which is an enhanced communication service for large and medium-sized companies that require a private network based on voice communication with communication between multiple parties.

Ooredoo Business provides this service in partnership with Telo Systems, a company that specializes in wireless services, providing instant access to the digital network used by companies.

When a company uses an activated transmission network, each device connected to it will be able to communicate with it through this service, and it will be able to access the network with the push of a button. Push-to-Talk also provides audio, video and location services.

14 percent increase in Ooredoo Kuwait’s revenue

Ooredoo Kuwait recorded a 14% increase in revenue to 57.6 million dinars in the first quarter of 2022, compared to 50.5 million dinars in the first quarter of 2021.

The company recorded strong progress in EBITDA by 17% to reach 16.5 million dinars in the first quarter of 2022 compared to 14.1 million dinars in the first quarter of 2021, driven by operating efficiencies across the business. Ooredoo’s customer base in Kuwait increased to 2.6 million customers in the first quarter of 2022, an increase of 5% compared to the first quarter of 2021.

faster «5G»

Ooredoo won the “Fastest 5G Network in Kuwait” award for 2021 at the Mobile World Congress (MWC) Barcelona 2022, according to Ookla, the world leader in applications, data and speed test analysis, according to the “Speedtest Global Index”. Fixed and mobile internet networks.

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