Ooredoo Ground releases the financial statements 2021
Ooredoo announced the financial statement of QAR 30 billion for the year ended 31 December 2021. Revenue for the full year ended 31 December 2021 stood at QAR 30 billion, an increase of 4% compared to the same period last year. Mainly driven by growth in our home market Qatar, Indonesia, and Tunisia. Excluding FX impact, revenue increased 7%.
Group EBITDA for the period was QAR 13 billion with a corresponding EBITDA margin of 44%, driven by growth in Indonesia, improving macroeconomic condition in Kuwait, and increased customer confidence in Algeria. The EBITDA growth rate stood at 8% and 11% excluding FX impact.
Group Net Profit attributable to shareholders stood at QAR 47 million. The 96% reduction was mainly due to FX losses and the impairment in Myanmar. The negative impact was partly offset by profit from the sale and leaseback of Indosat Ooredoo’s tower assets (QAR 1.000 million). Excluding these one-offs and FX impact, Net Profit had a growth of 61%. 
Photo Source http://www.ooredoo.com
The consolidated customer base at year-end exceeded 121 million due to strong performances in Indonesia, Oman, Algeria, and Iraq. The Board recommends the distribution of cash dividends by QAR 0.30 per share. This recommendation is based on the healthy balance sheet, adequate liquidity, and overall solid operational performance.
Ooredoo Group and CK Hutchison announced the approval of the USD 6.0 billion mergers between the two businesses following an EGM. Vikram Sinha will serve as Chief Executive Officer of the merged entity – Indosat Ooredoo Hutchison. The transaction was closed post-quarter on January 4, 2022.
On May 11, 2021, regulators approved Indosat Ooredoo’s sale and leaseback agreement with Edge Point Indonesia for more than 4,200 telecommunications towers. The transaction was valued at USD 750 million, making it one of the largest deals of its kind in Asia.
Indosat Ooredoo and Google Cloud launched a strategic partnership to accelerate digitalization across consumer and enterprise segments in Indonesia. Post period, Asiacell was named ‘Fastest Mobile Network’ and ‘Best Mobile Coverage’ in Iraq by a leading independent technology research company.
Finally, I am pleased to announce that the Board will recommend the distribution of a cash dividend of QAR 0.30 per share at the annual general meeting, taking place on 8 March 2022.”
Asiacell was recognized as the best mobile network operator in Iraq due to its rating as the fastest mobile network and the best mobile coverage by an independent third-party research company.
Finally, Indosat Ooredoo had a stellar year, with double-digit growth in revenue and EBITDA. The Company reported an increase in revenue to QAR 8.0 billion and an improved EBITDA margin of 49%, driven by cost optimization initiatives. Photo Source http://www.ooredoo.com
In addition to the proclamation of a one-year State of Emergency in February 2021, the Myanmar Ministry of Transport and Communications (MoTC) instructed operators to limit telecom services. In the second half of the year data service have resumed and performance improved.
The Company reported 9% decline in revenue to QAR 1.1 billion impacted by FX depreciation, in local currency terms Ooredoo Myanmar recorded 8% growth for the year ended 31 December 2021, the Company reported a 20% increase in EBITDA to QAR 376 million.
Despite the internet shutdowns and additional market challenges, Ooredoo Myanmar maintained customer engagement on the My Ooredoo App, which had over 2.7 million monthly active users in December 2021. Check the link http://www.ooredoo.com/ for the 2021 financial statement.
