Vodafone Qatar Qsc · QSE:VFQS
Vodafone Qatar Qsc — Vodafone Qatar P.Q.S.C. — FY2024 Earnings Presentation
27 slides from Vodafone Qatar Qsc's earnings presentation, Jan 28, 2025
Slide 1: Vodafone Qatar P.Q.S.C. Investor Presentation
Vodafone Qatar P.Q.S.C. Investor Presentation Year ended 31 December 2024
Slide 2: Disclaimer
Disclaimer • The following presentation is made only to, and is directed only at, persons to whom such a presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. • This presentation may
Slide 3: Performance Highlights
Performance Highlights Hamad Al-Thani Chief Executive Officer
Slide 4: Key Messages
Key Messages • QR 3,190m Revenue in FY24 Reached New Financial Heights in FY24 • QR 601m Net Profit in FY24 • 31.2% RMS in FY24 Q3 TTM Value Driven Moves Results in RMS Gains • 43.8% Mobility Customer Market Share in FY24 Q3 • +10% Y/Y Radio access network Sites Network Infrastructure Expansion • Mu
Slide 5: Growing Our Radio Network: >2,600 Radio Network Sites Across the Country
Growing Our Radio Network ⋮ >2,600 Radio Network Sites Across the Country Radio Network Evolution Radio Network Coverage +1,292 sites 2,635 2,403 2,208 +10% 1,637 1,511 1,343 2019 2020 2021 2022 2023 2024 • 80% of the 5G outdoor sites are upgraded with 5G 2nd carrier. • 5G Indoor footprint increased
Slide 6: Growing Our Radio Network: Key Projects in 2025 - 3G Sunset
Growing Our Radio Network ⋮ Key Projects in 2025 2.6 TDD 3G Sunset 5G SA • To enhance customer • 5G standalone (5G SA) will Vodafone Qatar is shutting down experience and remain at the enable industries and its 3G network to: forefront of innovation, enterprises to benefit from • Enhance customer ex
Slide 7: Product Portfolio: Series of Launches to Improve Customer Experience
Product Portfolio ⋮ Series of Launches to Improve Customer Experience Consumer Postpaid Revamp Elevating Home Entertainment with OSNtv All Postpaid plans include Premium Live Channels Streaming Content New Box Experience Unlimited local minutes Top studios locally, included 15,000 hours of Easy setu
Slide 8: Financial Performance
Financial Performance Masroor Anjum Chief Financial Officer
Slide 9: Key Highlights
Key Highlights • 2.5% increase in Total Revenue Topline Growth Continues • Growth across all segments • 23.4% OPEX intensity (underlying) Focus on Cost efficiency • 0.3 ppts YoY improvement • 6.1% growth in EBITDA Continuing Profitability growth • 11.2% increase in Net profits • 2.4% increase in fre
Slide 10: FY24 Year on Year: Persistent Topline and Profitability Growth
FY24 Year on Year ⋮ Persistent Topline and Profitability Growth Revenue Expenses EBITDA Net Profit +2.5% FLAT +6.1% +11.2% • Total revenue grew QR 79m (+2.5%) reflecting growth across mobility and 3,190 1,825 1,825 1,364 601 3,111 1,286 fixed 359 2.5% 540 349 • Expenses remained stable despite conti
Slide 11: Underlying Net profit
Underlying Net profit 601 585 18 7 (3) 13 (19) +8.4% 540 FY24 Acquisition OPEX 2 Accelerated Other Impact on FY24 FY23 Reported cost depreciation 3 Income 4 Tax related Underlying Net Profit Net Profit deferral 1 fees Net Profit 1 Incremental customer acquisition cost deferred as required by the IFR
Slide 12: Service Revenue: Continuous growth across all segments
Service Revenue ⋮ Continuous growth across all segments Postpaid Prepaid Managed services, wholesale & Fixed Total service revenue +1.0% +5.0% +2.5% +1.8% 1,302 1,296 1,308 596 993 2,831 2,762 563 946 550 2,617 1,148 520 529 1,067 2,230 719 2,021 533 391 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23
Slide 13: Margin Trends: Enhancing cost efficiency and profitability margins
Margin Trends ⋮ Enhancing cost efficiency and profitability margins Reported Underlying Reported Margin Underlying OPEX EBITDA Reported excl. World Cup & one-offs Net Profit Reported Intensity Margin Underlying margin* Margin +0.7ppts 18.8% +1.0ppts 45.8% 17.4% 18.4% 45.2% 45.1% 28.6% 16.4% 43.8% +0
Slide 14: Capital Expenditure: Investments driving profitable growth
Capital Expenditure ⋮ Investments driving profitable growth Capital expenditure (CAPEX) Return on capital employed (ROCE*) +7.5 ppts +1.1ppts 18.7% 21.5% 16.1% 17.7% 13.8% 11.7% 660 10.7% 550 9.8% 441 411 408 6.7% 4.2% FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Total CAPEX CAPEX Intensity FY2
Slide 15: FY24 Year on Year: Driving robust cash flows
FY24 Year on Year ⋮ Driving robust cash flows Free Cash flow* Net Debt Net Debt to EBITDA -22.6% -0.06x 688 300 0.23x 106 +2.4% •1 Underlying operating cash flow increased 596 42 2.4% 232 0.17x •2 Despite higher dividend pay-out for FY23, net debt decreased due to strong cash flow •3 Net debt to EBI
Slide 16: FY24 Year on Year: Statutory results summary
FY24 Year on Year ⋮ Statutory results summary 31 Dec 24 31 Dec 23 YoY • Total revenue grew QR 79m (+2.5%) driven QR millions (unless otherwise stated) by growth across mobility and fixed Consumer revenue 1,643 1,598 45 revenue Enterprise, equipment and other revenues 1,547 1,513 34 • Expenses remain
Slide 17: Key Financial Performance Indicators
Key Financial Performance Indicators Service Revenue Total Revenue Expenses EBITDA Net Profit CAGR CAGR +7% +10% CAGR 3,190 1,832 1,825 1,825 +14% 1,364 3,066 3,111 CAGR 1,286 +34% 601 359 1,234 349 449 1,495 540 2,526 1,392 738 735 502 752 2,200 296 1,031 179 606 629 808 327 2,762 2,831 2,617 2,230
Slide 18: Financial Performance v/s FY24 Guidance
Financial Performance v/s FY24 Guidance FY23 FY24 FY24 Financial KPIs Results Guidance Actuals Total revenue QR 3,111m + YoY % QR 3,190m + 2.5 % EBITDA Margin 41.3% + 0.5 – 1 ppts U/L 41.8% + 0.6ppts EPS 0.128 + 8% – 12% U/L 0.138 + 8.4% CAPEX intensity 17.7% 12% to 14% 13.8% - FY2024 Investor Prese
Slide 19: FY25 Guidance
FY25 Guidance FY24 FY25 Financial KPIs Results Guidance Total revenue QR 3,190m + YoY % EBITDA Margin U/L 41.8% ~ 42% CAPEX intensity 13.8% 13% - 14.5% FY2024 Investor Presentation 28 January 2025 19
Slide 20: Q&A
Q&A
Slide 21: For more information visit our website
For more information visit our website: www.vodafone.qa/en/investor-relations Or email us: InvestorRelationsQatar@vodafone.qa
Slide 22: Consolidated Statement of Income
Consolidated Statement of Income Year ended 31 December QR m (unless otherwise stated) 2024 2023 YoY Revenues 3,190 3,111 79 Interconnection and other direct expenses (1,059) (1,063) 4 • Total revenue grew QR 79m (+2.5%) driven by growth across mobility and fixed revenue Network and other operationa
Slide 23: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position QR m (unless otherwise stated) 31 Dec 24 31 Dec 23 Var Assets Property, plant and equipment 1,958 1,934 24 Intangible assets 3,895 4,037 (142) • Property, plant & equipment and intangible assets decreased by Right-of-use assets 337 429 (91) QR 119m due to
Slide 24: FY24 Q4 Year on Year: Growth momentum continues
FY24 Q4 Year on Year ⋮ Growth momentum continues Revenue Expenses EBITDA Net Profit -1.2% -5.8% +5.3% +10.6% • Service revenue grew 1.5% YoY driven by 813 803 477 353 164 growth across all segments – prepaid, 102 81 1.5% 449 336 148 postpaid and fixed • Lower equipment revenue YoY mainly 290 driven
Slide 25: Mobility ARPU
Mobility ARPU Postpaid Prepaid Total Mobility +3.2% +3.6% +3.6% 193.3 195.2 196.9 30.0 73.2 74.6 190.7 191.3 28.9 28.8 72.1 71.5 72.7 28.2 27.9 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY2024 Investor Presentation ARPU is
Slide 26: Mobility Subscribers
Mobility Subscribers Postpaid Prepaid Total Mobility +0.9% +2.4% +2.0% 567 569 1,582 2,149 2,114 2,108 561 1,545 1,517 1,547 2,075 2,067 557 556 1,511 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY2024 Investor Presentation
Slide 27: Approved Dividend Policy
Approved Dividend Policy The Board of Directors is proud to announce the fulfillment of its dividend policy commitment, achieving a dividend distribution of 12% of the nominal value. The Board has also approved a new dividend policy, aiming for a dividend distribution of not less than 10% of the Com
Vodafone Qatar P.Q.S.C. — FY2024 Earnings Presentation on 6ix