Ooredoo Group Publishes Q4 2024 Results
Stable Revenue and Strong Customer Base
Ooredoo Group has released its financial results for the fourth quarter of 2024, reporting stable revenue in annual terms, reaching QAR 5,937 million (USD 5,199 million). The company's customer base remains significant, with 146.2 million subscribers, including its presence in Indonesia.
EBITDA and Net Profit
The group's EBITDA stood at QAR 2,329 million (USD 2,040 million), with an EBITDA margin of 39.2%, a 10-basis-point decline compared to the same period in 2023. The net profit for the quarter was QAR 513 million (USD 449 million), a 46% increase year-over-year. Adjusted for foreign exchange effects and exceptional items, the net profit was QAR 773 million (USD 677 million), a 4% increase year-over-year.
Full-Year 2024 Results
For the full year 2024, revenue reached QAR 23,595 million (USD 20,663 million), generating a net profit of QAR 3,436 million (USD 3,009 million). Operating expenses totaled QAR 3,178 million (USD 3,046 million).
Ooredoo Tunisia Performance
Ooredoo Tunisia reported solid financial and operational growth, driven by increases in most service segments and operational efficiency gains. Strategic investments were made in fixed-line activities, driven by strong demand and the expansion of fiber-optic and high-speed fixed wireless access networks. The Capex was QAR 348 million (USD 305 million).
Key Performance Indicators
- Revenue increased by 5% year-over-year to QAR 1,542 million (USD 1,350 million).
- EBITDA grew significantly, up 16% year-over-year to QAR 642 million (USD 562 million), or 6% excluding exceptional doubtful receivables in 2023.
- EBITDA margin improved by 4% to 42%, driven by strong sales performance and effective cost management.
- The customer base decreased by 3% year-over-year, closing the year with 7.033 million customers on its network. With the advent of 5G in Tunisia this year, we expect even better performance. Historically, Ooredoo has always successfully navigated such transitions.
