Ooredoo Q.p.s.c · QSE:ORDS

Ooredoo Q.p.s.c — Ooredoo — Q1 2024 Earnings Presentation

38 slides from Ooredoo Q.p.s.c's earnings presentation, May 6, 2024

  1. Slide 1: Ooredoo Group Q1 2024 Results

    OOREDOO GROUP Q1 2024 RESULTS 06 May 2024

  2. 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

  3. Slide 3: Presenters

    Presenters Strategy and vision Aziz Aluthman Fakhroo Results review Group CEO Operations review Abdulla Ahmed A Al-Zaman Group CFO | 6 May 2024 |

  4. Slide 4: Contents: Strategy and vision

    Contents 1 Strategy and vision 2 Results review 3 Operations review 4 Additional information | | 4

  5. Slide 5: Enriching people's digital lives

    Our Vision Enriching people’s digital lives Positioning Ooredoo as the Leading digital infrastructure provider in the region Excellence in Value Focused Portfolio Customer Experience [Reduce Asset Base With Better External Use] [Protect & grow our customer asset] Our Strategy (2022-2024) People Stre

  6. Slide 6: Strategy update

    Strategy update Towers Data centers Fintech • Focus on closing transaction in each market • Qatar and Tunisia DCs have been carved out • On 28 April, PSP licence granted in Oman into a new independent, specialized data center entities • Continue to pursue licence applications in Iraq, Kuwait & Tunis

  7. Slide 7: Contents: Results review

    Contents 1 Strategy and vision 2 Results review 3 Operations review 4 Additional information | | 7

  8. Slide 8: Group results | Key highlights Q1 2024

    Group results | Key highlights Q1 2024 Healthy EBITDA expansion Double-digit Normalized Revenue growth FCF generation Net Profit growth Increased 4% to QAR 5.9 billion driven by Reported EBITDA grew 6% (normalized Normalized Net Profit up 26%** LC revenue growth in most markets +8%*) to QAR 2.5 bill

  9. Slide 9: Group Q1 2024 YoY highlights

    Group Q1 2024 YoY highlights Revenue EBITDA EBITDA margin Capex intensity +4% +6% (*+8%) +1pp (*2pp) 0.5pp QAR5.9bn QAR2.5bn 43% 7% Normalized Free Cash Flow Net Debt/EBITDA Customers Net Profit +8% (*+11%) +26%* to QAR1.0bn -0.3x +4% to 58.5mn +3%** to 159.3mn QAR2.2bn -5% to QAR0.9bn 0.8x *Normali

  10. Slide 10: Revenue

    Revenue Group revenue Q1 2024 Q1 2024 YoY change (QAR mn) Amount (QAR mn) and % - Quarterly +4% +4% +227 51 16 10 5,635 5,863 89 -4% 7% 5% 8% -3% -17% 271 16% 5,863 (4) (17) (18) -7% >100% (39) 5,635 29% (132) Group Iraq Algeria Kuwait Tunisia Maldives Palestine Oman Others Myanmar Qatar Group Q1 20

  11. Slide 11: EBITDA

    EBITDA Group EBITDA Q1 2024 Q1 2024 YoY change (QAR mn) Amount (QAR mn) and % - Quarterly EBITDA margin (%) +6% +6% +138 37 3 44 4% -9% -5% 2,546 59 94% -34% 2,408 139 44% (4) (14) -4% 27% (29) -25% 2,546 (40) 33% (57) 2,408 42.7% 43.4% Group Iraq Algeria Tunisia Others^ Maldives Palestine Oman Myan

  12. Slide 12: Net Profit | Reported and Normalized

    Net Profit | Reported and Normalized Q1 2024 Net profit attributable to Ooredoo shareholders (QARmn) Reported Normalized +26% -5% 1,004 961 913 795 Q1 2023 Q1 2024 Q1 2023 Q1 2024 • Normalized Net Profit (excludes FX impact, impairments & major one-offs) increased by 26% to QAR 1.0 billion • Q1 2023

  13. Slide 13: Net Profit | Reported to Normalized reconciliation

    Net Profit | Reported to Normalized reconciliation Q1 2024 Q1 2023 Net Profit reported to normalized Net Profit reported to normalized (QARmn) (QARmn) 1,004 1 (56) 913 90 103 234 961 (446) 795 Q1 2024 FX impact Impairment^ Q1 2024 Q1 2023 FX impact Impairment IOH tower NMTC legal Q1 2023 Reported No

  14. Slide 14: Capex

    Capex Group Capex Q1 2024 (QAR mn) & Capex / Revenue % Q1 2024 (Change %) TUN 55 -3% MYN 54 396 382 QAT 46 KUW 41 ALG 7 PAL 0 IRA -28 7.0% 6.5% OMA -63 Q1-23 Q1-24 MAL -64 Capex breakdown (Q1 2024) Q1 2024 summary: Others PAL MAL MYN OMA 2% 1% QAT • Tunisia: Driven by investments in Fibre, Submarine

  15. Slide 15: Free Cash Flow (FCF: EBITDA – Capex)

    Free Cash Flow (FCF: EBITDA – Capex ) Group FCF Q1 2024 Q1 2024 YoY Change (QAR mn) Amount (QAR mn) and % - quarterly +8% +8% 2,164 +152 2,012 36 16 8 47 55 (4) (32) 160 2,164 (66) (68) 2,012 Group Iraq Algeria Oman Others^ Tunisia Maldives Palestine Myanmar Qatar Kuwait Group Q1-23 Q1-24 Q1 2023 Q1

  16. Slide 16: Customer base

    Customer base Total Customers at Q1 2024 YoY Change (‘000) (mn) +4% +4% +2,050 56.5 58.5 544 76 74 68 45 2 58,545 618 961 (339) 56,495 Group Iraq Myanmar Algeria Kuwait Tunisia Oman Palestine Maldives Qatar Group Q1 2023 Q1 2024 Q1-23 Q1-24 Customers breakdown Summary (Q1 2024) • Customer base incre

  17. Slide 17: Debt Profile

    Debt Profile QAR’mn Strong investment grade rating Repayment schedule Fixed vs Floating rate debt portion 5,131 444 4% • Net Debt/EBITDA ratio of 0.8x, below current Board guidance of 1.5x to 2.5x 10,047 5,462 2,970 2,136 1,824 • Strong liquidity position (combination of Cash and undrawn Cash & 189

  18. Slide 18: Q1 2024 Actual & FY 2024 Guidance

    Q1 2024 Actual & FY 2024 Guidance Group Finance KPIs Q1 2024 % change (YoY) FY 2024 Guidance Revenue QAR 5.9 billion +4% Flat EBITDA margin 43% +1pp ~ low 40%’s Capex QAR 382 million -3% ~QAR 3.5 billion • On track to meet guidance || | | 18

  19. Slide 19: Contents: Operations review

    Contents 1 Strategy and vision 2 Results review 3 Operations review 4 Additional information | | 19

  20. Slide 20: Qatar

    Qatar Q1 2024 (QAR mn, % YoY) Quarterly Trend (QAR mn) Revenue EBITDA EBITDA margin -7% -132 1,948 1,818 1,734 1,786 1,816 1,816 948 52% 51% 51% 51% 52% -7% -4% 1pp 45% 988 822 888 904 948 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue EBITDA EBITDA Margin Revenue segments (QAR mn, % YoY) Q1 2024 Mobile Fixe

  21. Slide 21: Kuwait

    Kuwait Q1 2024 (QAR mn, % YoY) Quarterly Trend (KWD mn) Revenue EBITDA EBITDA margin +8% +5 63 62 61 64 60 760 172 23% 35% 36% 32% 30% 7% -25% -10pp 23% 19 19 22 22 15 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue EBITDA EBITDA Margin Revenue segments (KWD mn, % YoY) Q1 2024 Mobile Fixed • Revenue growth of

  22. Slide 22: Oman

    Oman Q1 2024 (QAR mn, % YoY) Quarterly Trend (OMR mn) Revenue EBITDA EBITDA margin -3% -2 66 64 63 66 64 607 280 46% 47% 48% 49% 44% 46% -3% -1pp -5% 31 31 31 29 30 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue EBITDA EBITDA Margin Revenue segments (OMR mn, % YoY) Q1 2024 Mobile Fixed • Revenue was lower Yo

  23. Slide 23: Iraq

    Iraq Q1 2024 (QAR mn, % YoY) Quarterly Trend (IQD bn) Revenue EBITDA EBITDA margin +14% +52 434 446 438 386 393 1,209 561 46% 29% 33% 1pp 45% 46% 47% 46% 38% 173 182 202 170 203 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue EBITDA EBITDA Margin Revenue segments (IQD mn, % YoY) Q1 2024 Mobile Fixed • Strong

  24. Slide 24: Algeria

    Algeria Q1 2024 (QAR mn, % YoY) Quarterly Trend (DZD bn) Revenue EBITDA EBITDA Margin +14% +3 24 24 24 21 22 662 283 43% 39% 40% 42% 40% 43% 16% 27% 4pp 9 10 10 10 8 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue EBITDA EBITDA Margin Revenue segments (DZD mn, % YoY) Q1 2024 Fixed Mobile • Revenue increased b

  25. Slide 25: Tunisia

    Tunisia Q1 2024 (QAR mn, % YoY) Quarterly Trend (TND mn) Revenue EBITDA EBITDA Margin +5% +15 331 322 293 307 308 360 143 40% 5% 44% 11pp 41% 44% 40% 37% 29% 125 144 120 122 85 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue EBITDA EBITDA Margin Revenue segments (TND mn, % YoY) Q1 2024 Mobile Fixed • Revenue

  26. Slide 26: Myanmar

    Myanmar Q1 2024 (QAR mn, % YoY) Quarterly Trend (MMK bn) Revenue EBITDA EBITDA Margin +14% +19 147 155 145 142 136 185 55 30% 38% 41% 38% 37% -17% -34% -8pp 30% 51 60 52 56 46 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue EBITDA EBITDA Margin Revenue segments (MMK mn, % YoY) Q1 2024 Mobile Fixed • Revenue i

  27. Slide 27: Maldives

    Maldives Q1 2024 (QAR mn, % YoY) Quarterly Trend (MVR mn) Revenue EBITDA EBITDA Margin +8% +40 557 554 514 502 524 131 70 53% 59% 55% 56% 55% 53% 8% -2pp 4% 283 280 287 328 296 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue EBITDA EBITDA Margin Revenue segments (MVR mn, % YoY) Q1 2024 Mobile Fixed • Solid pe

  28. Slide 28: Palestine

    Palestine Q1 2024 (QAR mn, % YoY) Quarterly Trend (USD mn) Revenue EBITDA EBITDA Margin -4% -1 28 28 28 25 27 97 37 38% -2pp 40% 41% 41% 38% -4% -9% 34% 11 11 12 10 8 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue EBITDA EBITDA Margin Revenue segments (USD mn, % YoY) Q1 2024 Mobile Fixed • Results were impac

  29. Slide 29: Indosat Ooredoo Hutchison results

    IDR 13.8 Tn ® 15.8% yoy EBITDA EBITDA Margin USD 411 Mn IDR 6.5 Tn 47% 1% Yo" fo @ 22.1% Yor © 2.4% Yor indosat* OOREDOO HUTCHISON Normalized Net-Profit USD 80 Mn IDR 1.2 Ta ORE LAVAS, Data Traffic Cellular Revenue ecs USD 735 Mn 3, 58 PB IDR 11.6 Tn @ 13.6% yor

  30. Slide 30: IR updates

    IR updates Upcoming Conferences (tbc) Arqaam 11th Annual MENA Conference Dubai, 27-28 May BofA Emerging Markets Corporate Conference Miami, 29-30 May HSBC GCC Exchanges Conference London, 10-11 June || | | 30

  31. Slide 31: Q&A

    Q&A | |

  32. Slide 32: Contents: Additional information

    Contents 1 Strategy and vision 2 Results review 3 Financial review 4 Additional information | | 32

  33. Slide 33: KPIs Technology: Q1 2024

    KPIs Technology: Q1 2024 4G FDD Sites as % 4G Population 5G Population 4G Contribution in Data Volume Country Total Sites Total Data Volume GB of total towers Coverage % coverage % total traffic % Grow % Algeria n/a 7,310 91.61% 77.00% 384,256,368 88.23% 40.35% Iraq n/a 7,647 99.33% 98.45% 257,370,8

  34. Slide 34: KPIs Commercial: Q1 2024 (3 months)

    KPIs Commercial: Q1 2024 (3 months) Number of MyOoredoo Post paid as Churn Churn Data users Digital complaints Country NPS App users RMS (*) % of total Mobile Fixed (‘000) recharge per 1000 (‘000) subs subs Algeria 3% NA 35 7,775 1,136 96% 34% 0.5 15% Iraq 7% NA 41 9,745 4,110 47% NA 2 1% Kuwait 3%

  35. Slide 35: Blended ARPU

    Blended ARPU Qatar (QAR)* Iraq (QAR) Oman (QAR) Maldives (QAR) Palestine (QAR) 71.3 72.0 70.8 100 104 104 104 103 66.8 67.4 23.8 24.8 40.5 39.5 39.4 22.6 38.4 21.0 21.2 20.9 21.8 36.3 19.6 19.1 18.1 Kuwait (QAR) Tunisia (QAR) Algeria (QAR) Myanmar (QAR) 14.8 9.3 16.4 16.4 8.1 61.3 61.7 61.6 60.8 60.

  36. Slide 36: Opcos licence general 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 Decree Iraq -- -- 30 August 2007 29 August 2030 Oman 8 June 2009

  37. Slide 37: Statutory corporate income tax (CIT) rates

    Statutory corporate income tax (CIT) rates Statutory Losses Carry Forward Country Comments CIT rate Allowed Algeria 26% 4 years Iraq 15% 5 years GCC companies (including NMTC) are exempted from CIT, but are Kuwait 15% 3 years subject to 4.5% Zakat, KFAS & National Labour Support Tax on consolidated

  38. Slide 38: Thank you

    THANK YOU Upgrade your world. Upgrade your portfolio. @OoredooIR • IR@ooredoo.com • www.ooredoo.com | |

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