Press releases, Reports & Disclosures for OOREDOO

Ooredoo, a telecommunications company, held its Annual General Meeting where the company's Corporate Governance Report and financial statements were approved by shareholders. The Board of Directors' recommendation to distribute a cash dividend of QAR 0.55 per share was also approved. The company reported a net profit of QAR 3 billion for 2023, an increase of 28% from the previous year. Revenue also increased by 2% to QAR 23.2 billion, driven by strong performance in Iraq, Algeria, Kuwait, and the Maldives, despite a decline in Qatar, Myanmar, and Palestine due to foreign exchange depreciation. The company's EBITDA was QAR 9.7 billion, up by 4% year-on-year.

Ooredoo Q.P.S.C, a company located in Doha, Qatar, has announced the closure of its nominations application period for its Board Membership. The upcoming term of three years will start in 2024 and end in 2027. The closure is in accordance with Article (22) of the Company's Articles of Association, Article (97) of Qatar Commercial Companies Law No. (11) of 2015, and the Qatar Financial Markets Authority Governance Code for Companies & Legal Entities Listed on the Main Market. The nomination period was closed on Thursday, 15th February 2024, at 01:00 PM.

The document is a Consolidated Financial Statements and Independent Auditor's Report for Ooredoo Q.P.S.C., based in Doha, Qatar, for the year ending on 31 December 2023.

Ooredoo Q.P.S.C. reported solid financial results for FY 2023 with a 2% increase in revenue to QAR 23.2 billion and a 4% rise in EBITDA to QAR 9.7 billion. The company's net profit hit a record high of QAR 3.0 billion, while the EBITDA margin expanded to 42%. The board proposed a cash dividend of QAR 0.55 per share, up 28%. The company's CAPEX spend was QAR 2.8 billion and it reported a strong normalized free cash flow growth of 6% to QAR 6.8 billion. The customer base, including IOH, was 156.4 million. The company met its full-year 2023 guidance targets.

The board of Ooredoo Q.P.S.C., located at Ooredoo Tower, Building 14, Zone 61, Street 801, Al Dafna, Doha, Qatar, met on 12th February 2024 and approved the consolidated financial statements for FY 2023 ending on 31 December 2023. The meeting was attended by Hilal Mohammed Al Khulaifi, the Group Chief Legal, Regulatory & Governance Officer. The company's authorized capital is QAR 5,000,000,000 and its issued & paid-up capital is QAR 3,203,200,000.

The consolidated financial statements of Ooredoo Q.P.S.C for the year ending 31st December 2023 show a decrease in total assets by 6% from QR 61,839 million in 2022 to QR 58,208 million in 2023. Total liabilities also decreased by 18%, from QR 33,683 million in 2022 to QR 27,634 million in 2023. However, total shareholders' equity increased by 9% from QR 28,156 million to QR 30,574 million. The company's total revenue and net operating profit increased by 2% and 7%, respectively, while profit attributable to shareholders of the parent increased by 28%. Earnings per share also increased by 27% from 0.74 QR units to 0.94 QR units.

Ooredoo Q.P.S.C., a Qatar-based telecommunications company, has invited its shareholders to attend the Ordinary and Extraordinary General Assembly Meetings on March 6th, 2024. The meetings will be held at the Four Seasons Hotel and via Zoom. If a quorum is not reached, the meetings will be rescheduled for March 13th, 2024. The agenda for the ordinary meeting includes the approval of the Board's report, discussion of the company's future plans, and appointment of the external auditor for 2024. The extraordinary meeting will discuss the sale of a portion of the company's assets. Shareholders are advised to arrive an hour early for registration and can appoint a proxy if they cannot attend. Only shareholders registered by March 6th, 2024, are eligible to attend.

Ooredoo Q.P.S.C., a Qatar-based telecommunications company, has announced the opening of the nomination period for the Board of Directors membership. The term for the new members will be three years, starting from 2024 to 2027. The nomination period will be open from 11th February 2024 and will close on 15th February 2024. Interested individuals and companies can download the nomination forms from the Ooredoo website. Applications and requested documents must be submitted in person at Ooredoo’s headquarters in West Bay. Applications submitted after the deadline or not meeting the eligibility requirements will not be considered. Elections will take place during the General Assembly meeting of Ooredoo.

Ooredoo Q.P.S.C., a communications company operating across the Middle East, North Africa, and Southeast Asia, has announced that it will disclose its FY 2023 financial results on 12th February 2024, following a financial review meeting. There will be a conference call and presentation on 19th February 2024, details of which can be found on the company’s website. The company is based in Doha, Qatar, with a commercial registration number of 21183. It has an authorized capital of QAR 5,000,000,000 and issued & paid-up capital of QAR 3,203,200,000. As of 31 December 2022, Ooredoo generated revenues of QAR 23 billion. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.