Slide 1: Ooredoo Group Q1 2019 Results
Ooredoo Group Q1 2019 Results 1 May 2019
Slide 2: Disclaimer
Disclaimer • Ooredoo (parent company Ooredoo Q.P.S.C.) and the group of companies which it forms part of (“Ooredoo Group”) cautions investors that certain statements contained in this document state Ooredoo Group management's intentions, hopes, beliefs, expectations, or predictions of the future and
Slide 3: Contents
Contents 1 Results review 2 Operations review 3 Additional information 3
Slide 4: Group Results: Key Highlights
Group Results Overview Results review Operations review Additional information Key Highlights Solid financial performance in challenging conditions Q1 2019 Revenue stood at Group EBITDA was QAR Group Net Profit Increased monetization IFRS 16 accounting QAR 7.2 billion, a decline 3.2 billion with a a
Slide 5: Revenue and EBITDA
Group Results Overview Results review Operations review Additional information Revenue and EBITDA Revenue (QARm) EBITDA (QARm) and EBITDA Margin 7,683 -6% +4% 7,192 3,049 3,173 44% 40% Q1-18 Q1-19 Q1-18 Q1-19 • Revenue growth in L/C terms in Oman, Indonesia, Maldives and Tunisia offset by negative F
Slide 6: Net Profit
Group Results Overview Results review Operations review Additional information Net Profit Net Profit Attributable to Ooredoo shareholders (QARm) -13% 486 420 Net Profit 344 320 Net F/X Pre F/X Net Profit 166 77 Q1-18 Q1-19 • Net Profit decreased by 13% yoy • Excluding FX impact Net Profit up by 8% 6
Slide 7: Free Cash Flow and Capital Expenditure
Group Results Overview Results review Operations review Additional information Free Cash Flow and Capital Expenditure CAPEX (QARm) & CAPEX/ Revenue (%) Free Cash Flow (QARm) -9% 1,653 1,511 +17% 1,105 946 15% 12% Q1-18 Q1-19 Q1-18 Q1-19 • Further investments in network capacity and quality, economie
Slide 8: Total customers
Group Results Overview Results review Operations review Additional information Total customers Total Customers (000) +26% +1% 149,057 150,500 -25% 117,936 112,142 Q1-16 Q1-17 Q1-18 Q1-19 • Customer base in Kuwait, Algeria, Tunisia, Myanmar, Maldives, Iraq, Qatar and Palestine increased • Group custo
Slide 9: Net debt
Group Results Overview Results review Operations review Additional information Net debt Net Debt (QARm) and Net Debt / EBITDA 30,547 -6% +6% 28,825 -9% 27,714 26,263 2.4 2.2 2.0 2.0 Q1-16 Q1-17 Q1-18 Q1-19 • Net Debt to EBITDA ratio 2.2x (1.8x excluding IFRS 16 impact), within board guidance between
Slide 10: 2019 Q1 performance summary
Group Results Overview Results review Operations review Additional information 2019 Q1 performance summary % Change Q1 2019 Full Year Group Financials Q1 2019 2019 / 2018 Guidance over 2018 (QAR bn) Actual Excl. IFRS 16 impact Excl. IFRS 16 impact Revenue 7.2 -6% -3% to 0% EBITDA 3.2 -3% -7% to -4%
Slide 11: Contents
Contents 1 Results review 2 Operations review 3 Additional information 11
Slide 12: Qatar
Qatar Overview Results review Operations review Additional information QARm Revenue EBITDA EBITDA Margin • Strong No.1 position maintained - Ooredoo’ s fixed line and mobile networks 57% in Qatar ranked among fastest globally 48% • Service Revenue declined by 1% while reduced handsets sales led to a
Slide 13: Indonesia
Indonesia Overview Results review Operations review Additional information QARm 1,571 1,529 1,557 1,529 1,557 1,400 1,418 • Revenues grew up by 2% compared to Q1 2018, leaving the negative impact 586 642 586 469 494 419 642 of the SIM card registration regulation behind Q1-18 Q2-18 Q3-18 Q4-18 Q1-19
Slide 14: Iraq
Iraq Overview Results review Operations review Additional information QARm Revenue EBITDA EBITDA Margin 50% 44% • Q1 revenue at QAR 1.1bn similar level YoY 50% 49% 48% 1,075 1,070 42% 44% • EBITDA was down 12% to QAR 471m during the quarter, as a result of increased sales and marketing activities to
Slide 15: Oman
Oman Overview Results review Operations review Additional information QARm Revenue EBITDA EBITDA Margin 57% • Continued growth in Revenue, EBITDA and Net Profit 55% • Revenue growth by 1% mainly due to fixed line business and a strong 55% 53% 55% 55% 57% 643 650 performance in post-paid mobile reven
Slide 16: Kuwait
Kuwait Overview Results review Operations review Additional information QARm 795 750 795 710 650 673 673 144 150 151 217 210 144 210 • Revenue was down 15% due to the reduction in handset sale in a Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q1-18 Q1-19 highly competitive market • EBITDA growth of 46% and margin
Slide 17: Algeria
Algeria Overview Results review Operations review Additional information QARm 733 733 668 695 663 644 644 • Algerian market impacted by weak economic conditions, political 306 250 245 228 261 306 261 uncertainty and intense price competition Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q1-18 Q1-19 • Depreciation o
Slide 18: Tunisia
Tunisia Overview Results review Operations review Additional information QARm 387 385 380 374 387 329 329 144 149 183 118 142 144 142 • 7% Revenue growth in local currency terms driven by gains in data, Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 international and fixed revenues Q1-18 Q1-19 • 20% Tunisian Dinar d
Slide 19: Myanmar
Myanmar Overview Results review Operations review Additional information QARm 355 350 355 296 261 260 260 65 64 65 44 24 59 59 • Depreciation of Myanmar Kyat (-12% YoY) and aggressive promotions Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q1-18 Q1-19 by the fourth player resulted in revenue decrease • Revenue sta
Slide 20: 2019 Ooredoo Capital Markets Day
2019 Ooredoo Capital Markets Day Save the date: CMD 19th June 2019, in Oman Bar Al Jissa (Shangri-La) More details in due course 20
Slide 21: Contents
Contents 1 Results review 2 Operations review 3 Additional information 21
Slide 22: Additional Information: Key Operations Importance to Group
Additional Information Overview Results review Operations review Additional information Key Operations Importance to Group Revenue (QARm) EBITDA (QARm) 3,179 3,427 3,049 3,173 7,888 8,044 7,683 7,192 % % Q1-16 Q1-17 Q1-18 Q1-19 Q1-16 Q1-17 Q1-18 Q1-19 delta delta Qatar 941 1,023 955 1,037 9% Qatar 1
Slide 23: Operations Breakdown: CAPEX & Customers
Group Operations Breakdown Overview Results review Operations review Additional information CAPEX & Customers CAPEX Breakdown (%) Customer Breakdown (%) Others, 2% Others, 2% Myanmar, 4% Qatar , 3% Qatar , 6% Myanmar, 10% Tunisia, 4% Tunisia, 8% Algeria, 16% Algeria, 12% Kuwait, 4% Indonesia, 45% Ku
Slide 24: Total Group Debt Breakdown
Group Operations Breakdown Overview Results review Operations review Additional information Total Group Debt Breakdown Total Group Debt (QARm) Total Group Debt Breakdown Long Term Short Term Others , 44,499 7% 41,634 40,034 10,720 3,771 35,083 7,795 Indonesia , 9,263 17% 37,863 33,779 32,239 25,820
Slide 25: Debt Profile – Ooredoo Q.P.S.C. level
Group Results Overview Results review Operations review Additional information Debt Profile – Ooredoo Q.P.S.C. level 2,000 1,500 Undrawn RCF 490 1,040 795 1,000 40 500 1,000 1,000 690 750 500 500 500 600 245 USD m 0 2019 2020 2021 2022 2023 2024 2025 2026 2028 2043 Issue Loans (in USD m) Amount Usag
Slide 26: Blended ARPU
Blended ARPU Overview Results review Operations review Additional information Qatar (QAR) Iraq (QAR) Oman (QAR) Maldives (QAR) Palestine (QAR) 53.3 52.2 52.9 54.0 52.3 50.8 25.1 113 111 117 116 114 109 62.6 23.1 22.7 22.8 21.5 29.9 27.3 27.2 28.9 26.8 25.4 56.8 58.3 61.0 60.1 56.1 20.4 Indonesia (QA
Slide 27: Statutory Corporate Tax Rates
Statutory Corporate Tax Rates Overview Results review Operations review Additional information Statutory Losses C/Fwd Markets Notes Tax Rate Allowed Algeria 26% 4 years Indonesia 25% 5 years Iraq 15% 5 years GCC companies (including NMTC)are exempted and are subjected to 4.5% Zakat, Kuwait 18% 3 yea
Slide 28: Thank You
Thank You Connect with us on: ooredoo.com @ooredoo IR@ooredoo.com 28