Slide 1: Ooredoo Group 9M 2022 Results
OOREDOO GROUP 9M 2022 Results 31 October 2022
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 Strategy and vision 2 Results review 3 Operations review 4 Additional information Ooredoo Q3 2022 Investor Presentation | | 3
Slide 4: Ooredoo Vision: Enriching People's Digital Lives
Vision Ooredoo Vision: Enriching People’s Digital Lives Strategic Pillars Capital Markets Day Ooredoo Q3 2022 Investor Presentation | | 4
Slide 5: Contents
Contents 1 Strategy and vision 2 Results review 3 Operations review 4 Additional information || || 5
Slide 6: Group Results Key Highlights
Overview Results review Operations review Additional information Group Results Key Highlights normalized proforma 9M 2022 Good momentum into the year continued in with revenue growth in Q3 9M 2022 revenue stood at Group EBITDA for 9M 2022 was Group Net Profit New brand-new logo and QAR 16.9 billion,
Slide 7: Financial Achievements - Normalized 9M 2022 YoY Proforma
ORDS – Financial Achievements- Normalized 9M 2022 YoY - Proforma* Revenue: EBITDA: EBITDA Margin: Capex Intensity: +4% yoy -1% yoy QR QR -2ppt -2ppt 41% 9% 16.9bn 6.9bn Free Cash Flow: Net Profit: Net Debt/EBITDA: Customers +3% +33% - 0.3X - 5% QR QR 1.2x 55mn 5.3bn 2.1bn *Post the IOH merger in Ind
Slide 8: Financial Achievements - Reported 9M 2022 YoY
ORDS – Financial Achievements- Reported 9M 2022 YoY Revenue: EBITDA: EBITDA Margin: Capex Intensity: -24% -28% -3% PPT -5ppt QR QR 16.9bn 7.1bn 42% 9% Free Cash Flow: Net Profit: Net Debt/EBITDA: Customers -19% QR QR - 0.3X -54% 5.5bn 2.0bn 1.2x 55mn || || 8
Slide 9: Financial Achievements Normalized Q3 2022 YoY Proforma
ORDS – Financial Achievements Normalized Q3 2022 YoY - Proforma* Revenue: EBITDA: EBITDA Margin: Capex Intensity: +4% -7% -5ppt -1ppt QR QR 2.3bn 40% 10% 5.8bn Free Cash Flow: Net Profit: Net Debt/EBITDA: Customers -9% +19% QR QR - 0.3X -5% 1.7bn 1.2x 55mn 773mn *Post the IOH merger in Indonesia the
Slide 10: Financial Achievements - Reported Q3 2022 YoY
ORDS – Financial Achievements- Reported Q3 2022 YoY Revenue: EBITDA: EBITDA Margin: Capex Intensity: -24% -34% -6ppt -4ppt QR QR 40% 10% 5.8bn 2.3bn Free Cash Flow: Net Profit: Net Debt/EBITDA: Customers -29% +192% QR QR - 0.3X -54% 1.7bn 574mn 1.2x 55mn | | 10
Slide 11: Proforma Revenue
Proforma Revenue* Group Revenue 9M -22 (QAR mn) Q3-22 YoY Change , Amount (QAR mn) and % 22,118 +4% +4% + 204 7 16,854 63 31 16,253 106 7% 0% -2% -10% 201 10% -20% 5,767 20% (1) (11) (43) -8% (62) 5,563 11% (87) Q3-21 Qatar Oman Kuwait Others Maldives Palestine Algeria Tunisia Myanmar Iraq Group Q3-
Slide 12: Proforma EBITDA
Proforma EBITDA* Group EBITDA 9m -22 (QAR mn) % Q3- 22 YoY Change Amount (QAR mn) and % EBITDA Margin 9,904 -7% -1% -181 21 13 7.5 6,956 6,856 48 6% 15% -2% -5% 2,483 10% -4% 17% (1) (8) -31% (39) -15% (40) (76) -152% 2,302 (105) 45% 43% 41% Q3-21 Oman Algeria Kuwait Maldives Palestine Tunisia Qatar
Slide 13: Reported Net Profit 9M 2022
Reported - Net Profit 9M - 2022 9M -22 Net Profit Attributable to Ooredoo shareholders (QARmn) +33% 2,049 2,100 1,580 -760 9M 2021 Reported 9M 2022 Reported 9M 2021 Normalized 9M 2022 Normalized proforma Proforma • Group reported Net Profit turned positive reaching to QAR 2.05bn • Normalized proform
Slide 14: Net Profit 9M 2022 Reported to Normalized
Net Profit 9M – 2022 Reported to Normalized 9M -22 NP Reported to 9M - 22 Normalized 9M -21 NP Reported to 9M 21 Normalized +2% 296 999 2,049 2,100 (245) 2,341 1,580 (1,000) 9M -22 FX impact Data Center 9M -22 (760) Reported sale gain Normalized 9M -21 Impairment FX impact Tower 9M -21 Reported loss
Slide 15: Reported Net Profit Q3 2022
Reported Net Profit Q3- 2022 Q3-22 Net Profit Attributable to Ooredoo shareholders (QARmn) +19% +191% 773 650 574 197 Q3 2021 Reported Q3 2022 Reported Q3 2021 Normalized Q3 2022 Normalized Proforma Proforma • Group Net Profit turned stood at QAR 574m mainly driven by FX • Normalized proforma Net Pr
Slide 16: Net Profit Q3 2022 Reported to Normalized
Net Profit Q3 – 2022 Reported to Normalized Q3 -22 NP Reported to Q3-22 Normalized Q3 -21 NP Reported to Q3-21 Normalized +35% +230% 199 773 453 650 574 197 Q3 -22 FX impact Q3 -22 Q3 -21 FX impact Q3 -21 Reported Normalized Reported Normalized • Group Net Profit attributable to Ooredoo shareholders
Slide 17: Proforma Capex
Proforma Capex* Group Capex 9M - 2022 (QAR mn) & Capex / Revenue % 9M - 2022 yoy (Change %) PAL 201% 3,022 ALG 80% QAT -6% -14% TUN -8% 1,815 1,555 OMA -24% MAL -25% 14% KUW -35% 11% 9% MYN -36% IRA -42% 9M-21 9M 21 9M-22 Proforma • Capex lower in 9months 2022 yoy, FY expectation still in line with
Slide 18: Proforma Free Cash Flow
Proforma Free Cash Flow* (FCF: EBITDA – Capex ) Group FCF 9M 22 (QAR mn) Q3- 2022 YoY Change AAmount (QAR mn) and % 6,882 +3% -9% 5,141 5,302 7 -176 22 7 1,887 (8) (8) (10) (11) (20) (48) 1,711 (108) Q3-21 Kuwait Oman Maldives Tunisia Palestine Iraq Algeria Myanmar Qatar Others** Group Q3-22 9M-21 9
Slide 19: Customers
Customers Total Customers 9M- 22 (mn) YoY Change (000) -5% -2,846 1,922 444 308 105 74 42 12 12 120.7 58,340 55,494 -5% (5,765) 58.3 55.5 Group Iraq Kuwait Algeria Oman Qatar Palestine Tunisia Maldives Myanmar Group Q3 2021 Q3-22 9M-21 9M-21 9M-22 excluding Indonesia Customers Breakdown (9M-22) Summ
Slide 20: 2022 Performance Summary and Guidance
Group Results 2022 performance summary - Normalized Proforma & Guidance for 2022 % Change Group Financials 9M 2022 2022 Full Year 9M 2022 /9M 2021 (QAR bn) Proforma Guidance over 2021 Proforma* Revenue 16.9 +4% -2% to +2% EBITDA 6.9 -1% -3% to +1% CAPEX 1.6 -14% 2.75bn to 3.25bn Summary • Proforma 9
Slide 21: Indosat Ooredoo Hutchinson 9M 2022
Indosat Ooredoo Hutchinson 9M 2022 The integration between Indosat Ooredoo and Hutchison in Indonesia is progressing well IOH hosted their investor call on 28 Oct, full slide deck available on their IR website || 31 October 2022 || 21
Slide 22: Debt Profile
Debt Profile Fixed vs Floating rate debt portion (QAR m*) Strong investment grade rating Repayment Schedule (QAR m*) • Net debt/ EBITDA ratio of 1.2x, below current board guidance of 1.5x to 2.5x 3,485 2,089 12% • Strong liquidity position (combination of Cash and RCFs ) 12,212 • Balanced and long m
Slide 23: Contents
Contents 1 Strategy and vision 2 Results review 3 Operations review 4 Additional information Ooredoo Q2 2022 Investor Presentation || 31 October 2022 || 23
Slide 24: Qatar
Qatar Quarterly Trend (QAR mn) Revenue Revenue EBITDA EBITDA Margin EBITDA 11% +201 YTD - 22 YTD - 22 2,038 1,952 5,738 2,841 1,752 1,887 1,899 6% -2% yoy yoy 54% 52% 50% 46% 47% QAR mn QAR mn 950 943 977 953 911 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Mobile Fixed 2,847 2,412 +2% +11% • 9M 2022 Revenue grew
Slide 25: Kuwait
Kuwait Quarterly Trend (KD mn) Revenue Revenue EBITDA EBITDA Margin EBITDA 12% +7 YTD - 22 YTD - 22 58 59 60 2,104 633 53 55 12% 13% yoy yoy 31% 29% 31% 30% 27% QAR mn QAR mn 17 16 19 18 15 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Mobile Fixed • Strong growth in 9M 2022, revenue up by 12% yoy, 121 9 mainly dri
Slide 26: Algeria
Algeria Quarterly Trend (DZD bn) Revenue Revenue EBITDA EBITDA Margin EBITDA 4% YTD - 22 YTD - 22 +1 1,659 625 23 22 22 21 21 -3% 3% yoy yoy QAR mn QAR mn 38% 40% 36% 35% 31% 8 8 8 9 7 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Mobile Fixed • In local currency, revenue and EBITDA increased by 4% and 10% yoy, res
Slide 27: Tunisia
Tunisia Quarterly Trend (TND mn) Revenue Revenue EBITDA EBITDA Margin EBITDA 2% +8 YTD - 22 YTD - 22 324 332 1,121 497 315 303 303 -8% -3% yoy yoy QAR mn QAR mn 43% 43% 44% 46% 28% 140 130 135 152 90 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Mobile Fixed • In local currency, revenue and EBITDA increased by 2% a
Slide 28: Iraq
Iraq Quarterly Trend (IQD bn) Revenue Revenue EBITDA EBITDA Margin EBITDA -8% YTD - 22 YTD - 22 -34 427 2,713 1,183 392 366 358 350 -2% -7% yoy yoy 48% 44% 44% 43% 43% QAR mn QAR mn 204 174 160 155 151 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Mobile Fixed • L/C Revenue down year on year 1% in 9M 2022. There wa
Slide 29: Oman
Oman Quarterly Trend (OMR mn) Revenue Revenue EBITDA EBITDA Margin EBITDA 20% +11 YTD - 22 YTD - 22 68 62 65 64 1,866 983 57 8% 9% yoy yoy 54% 53% 52% 52% 52% QAR mn QAR mn 30 33 34 35 35 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Mobile Fixed • Revenue year on year increased by 8% in 9M 2022 by growing in whole
Slide 30: Myanmar
Myanmar Quarterly Trend (MMK bn) Revenue Revenue EBITDA EBITDA Margin EBITDA -6% -9 YTD - 22 YTD - 22 147 138 138 798 318 134 133 0% 30% yoy yoy 49% 42% 44% QAR mn QAR mn 39% 36% 61 66 59 54 49 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Mobile Fixed • Revenue yoy was flat in 9M 2022, L/C revenue was • Mobile Mon
Slide 31: Maldives
Maldives Quarterly Trend (MVR mn) Revenue EBITDA EBITDA Margin Revenue EBITDA 7% +29 YTD - 22 YTD - 22 182 475 487 466 471 336 442 9% 15% yoy yoy 55% 55% 53% 49% QAR mn QAR mn 44% 267 257 249 218 209 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Mobile Fixed 856 329 • Revenue increased by 9% yoy in 9M 2022 supporte
Slide 32: Palestine
Palestine Quarterly Trend (USD mn) Revenue Revenue EBITDA EBITDA Margin EBITDA 0% YTD - 22 YTD - 22 0 318 119 30 30 3% 27 29 29 6% yoy yoy QAR mn QAR mn 38% 37% 38% 37% 37% 11 10 11 11 11 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Mobile Fixed - • Record Revenue in 9m 2022, increased by 3% year on year despite t
Slide 33: MEIRA Awards and Upcoming Conferences
MEIRA Awards and Upcoming Conferences (tbc) BofA/ML Arqaam Capital 17th Annual EFG MEIRA MENA Investors Hermes Investor Relations Awards 2022 MENA Conference 2022 Conference 2023 1:1 Conference Thank you for your votes! 2-3 Nov 2022 28 Feb – 1 Mar 2023 6 – 9 Mar 2023 “Best IR professional in Qatar 2
Slide 34: Q&A
Q&A | |
Slide 35: Contents
Contents 1 Strategy and vision 2 Results review 3 Operations review 4 Additional info || 31 October 2022 || 35
Slide 36: KPIs technology
KPIs technology 4G FDD Sites as % of 4G Population 5G Population 4G Contribution in total Data Volume Grow Country Total Sites Total Data Volume GB total towers Coverage % coverage % traffic % % ALGERIA 6,341 82.49% 75.60% n/a 710,391,704 79.02% 30.53% IRAQ 7,413 99.08% 96.56% n/a n/a n/a n/a KUWAIT
Slide 37: KPIs Commercial - 9M 2022
KPIs Commercial – 9M 2022 Country Churn Churn NPS Data users MyOoredoo Digital RMS (*) Number of Post paid as Mobile Fixed (‘000) App users recharge complaints % of total (‘000) per 1000 subs subs Algeria 2.9% - 28 7438,7 38 94,7% 48.3% 0,59 8.8% Iraq 7.1% - 33.7 7,987 - 32.6% 55.1% 0.9 0.6% Kuwait
Slide 38: Dividend policy
Overview Results review Operations review Additional information Dividend policy • The Ooredoo Board has approved a sustainable and progressive dividend policy for the company, aiming for a dividend payout in the range of 40% to 60% of normalized earnings • Dividend paid in 2022 was QR 0.30, ex-divi
Slide 39: Blended ARPU
Blended ARPU Overview Results review Operations review Additional information Qatar (QAR) Iraq (QAR) Oman (QAR) Maldives (QAR) Palestine (QAR) 113 110 110 108 108 108 44.2 44.3 43.9 42.2 43.2 69.9 41.3 66.3 68.0 67.8 19.6 19.2 19.3 62.6 63.8 25.5 18.2 17.2 23.7 16.1 22.7 22.7 23.0 21.6 Kuwait (QAR)
Slide 40: OPCOs Licence General Information
Overview Results review Operations review Additional information OPCOs Licence General Information Fixed Licence Mobile Licence Country Issuance Date Expiry Date Issuance Date Expiry Date Qatar 7 October 2007 6 October 2032 7 October 2007 6 October 2027 13 October 1997 Kuwait -- -- Indefinite Emiri
Slide 41: Statutory Corporate Tax Rates
Overview Results review Operations review Additional information Statutory Corporate Tax Rates Statutory Statutory Losses LossesC/Fwd C/Fwd Markets Markets Notes Tax TaxRate Rate Allowed Allowed Algeria 26% 4 years The Tax Rate is 22% for tax year 2022 onwards Indonesia 22% 5 years Iraq 15% 5 years
Slide 42: Thank You
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