Press releases, Reports & Disclosures for OOREDOO

Ooredoo Oman, a subsidiary of Ooredoo Q.P.S.C., has signed an agreement to land the world's largest subsea cable system, 2Africa, in Barka and Salalah, marking the most extensive subsea cable system landing in Oman. The 2Africa Cable System, which spans 45,000km, will impact over 3 billion people in 33 countries across Africa, Asia, and Europe. The consortium behind 2Africa includes Bayobab, center3, China Mobile International, Meta, Orange, Telecom Egypt, Vodafone Group, and WIOCC, while Alcatel Submarine Networks is responsible for the cable's manufacturing and installation. Ooredoo Oman will develop a new build landing infrastructure for both Barka and Salalah and maintain it in the coming decades.

The text presents the condensed consolidated interim financial information for Ooredoo Q.P.S.C, a company based in Doha, Qatar. The financial data covers the three-month period ending on 31 March 2024.

Ooredoo Q.P.S.C. reported a 4% increase in revenues in Q1 2024, reaching QAR 5.9 billion. The company's EBITDA also rose by 6% to QAR 2.5 billion, with an EBITDA margin expansion to 43%, up by one percentage point. The normalized net profit grew by 26% to QAR 1.0 billion. Ooredoo spent QAR 382 million on CAPEX and reported an 11% growth in normalized free cash flow to QAR 2.2 billion. The company's customer base increased by 3% to 159.3 million. The company is on track to meet its FY 24 guidance.

The consolidated financial statements for Ooredoo Q.P.S.C for the three months ending 31st March 2024 indicate a decrease in total non-current assets, total current assets, total assets, total current liabilities, total non-current liabilities, total liabilities, and total shareholders equity compared to December 2023. However, there was an increase in total revenue, net operating profit, but a decrease in profit attributable to shareholders and earnings per share compared to 2023.

Ooredoo Q.P.S.C., an international communications company based in Qatar, has announced that it will disclose its Q1 2024 financial results on 30 April 2024. A conference call and investor presentation are scheduled for 6 May 2024. The company operates across the Middle East, North Africa, and Southeast Asia, serving consumers and businesses in ten countries. As of 31 December 2023, Ooredoo generated revenues of QAR 23 billion.

The 26th Ordinary General Assembly Meeting of Ooredoo (Q.P.S.C) was held on 6th March 2024 in Doha, Qatar. The meeting was attended by the board of directors, representatives from PwC, the Ministry of Commerce and Industry, and shareholders. The Chairman of the Board of Directors, H.E. Sheikh Faisal Bin Thani Al Thani, opened the meeting and the appointment of Mr. Hilal bin Mohammed Al -Khulaifi as the "Rapporteur of the meeting" and Mr. Hassan bin Nabeel Al-Kuwari as Assistant Rapporteur were approved by the General Assembly. The agenda was also approved and the meeting proceeded to discuss the company's business plans and the Board's report for the year ended 31 December 2023.