Slide 1: Ooredoo Group 9M 2018 Results
Ooredoo Group 9M 2018 Results September 2018 Ooredoo Group 9M 2018 Results |
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 Ooredoo Group 9M 2018 Results | 3
Slide 4: Key Highlights 9M
Results Operations Additional Group Results Overview Review Review Information Key Highlights 9M Financial Highlights • Ooredoo’s results were negatively impacted by the overall FX weakness in Emerging Markets as well as the market situation in Indonesia following the new SIM card registration regul
Slide 5: Revenue and EBITDA
Results Operations Additional Overview Group Results Review Review Information Revenue and EBITDA Revenue (QARm) EBITDA (QARm) and EBITDA Margin +1% +0% +3% +1% -7% 24,196 24,266 24,476 10,459 -11% 10,012 10,156 22,775 9,337 43% 41% 42% 41% 9M-2015 9M-2016 9M-2017 9M-2018 9M-2015 9M-2016 9M-2017 9M-
Slide 6: Net Profit
Results Operations Additional Group Results Overview Review Review Information Net Profit Net Profit Attributable to Ooredoo shareholders (QARm) Total Net Profit Net Foreign Exchange Pre FX Net Profit +4% -15% 1,758 1,832 -30% 1,559 1,092 2,243 1,632 1,504 1,507 200 55 (485) (415) 9M-2015 9M-2016 9M
Slide 7: Free Cash Flow and Capital Expenditure
Results Operations Additional Group Results Overview Review Review Information Free Cash Flow and Capital Expenditure CAPEX (QARm) & CAPEX/ Revenue (%) Free Cash Flow (QARm) +17% 5,647 +124% 5,581 -20% 4,780 -36% 4,453 3,642 +11% -28% 2,906 23% 2,607 15% 2,138 13% 11% 9M-2015 9M-2016 9M-2017 9M-2018
Slide 8: Total Customers
Results Operations Additional Group Results Overview Review Review Information Total Customers Total Customers (000) +13% +16% 149,867 -20% 132,987 114,880 119,592 9M-2015 9M-2016 9M-2017 9M-2018 Growing customer numbers in Iraq, Kuwait, Tunisia, Myanmar & Palestine offset by the SIM card registrati
Slide 9: Net Debt
Results Operations Additional Overview Group Results Review Review Information Net Debt Net Debt (QARm) and Net Debt / EBITDA +2% -9% 27,789 28,297 -12% 25,874 22,722 2.2 2.2 1.8 1.8 9M-2015 9M-2016 9M-2017 9M-2018 Positive trend of lower Group Net Debt continued, Net Debt to EBITDA ratio at 1.8x Lo
Slide 10: 2018 9M performance summary
Results Operations Additional Group Results Overview Review Review Information 2018 9M performance summary Group Financials 2018 % Change 2018 Full Year Guidance over (QAR bn) Actual 2018 / 2017 2017 Revenue 22.8 -7% -3.5% to -6.5% EBITDA 9.3 -11% -5.5% to -8.5% CAPEX 2.9 11% 4.5 bn to 5.5 bn Market
Slide 11: Contents
Contents 1. Results review 2. Operations review 3. Additional information Ooredoo Group 9M 2018 Results | 11
Slide 12: Operations: Qatar
Results Operations Additional Group Operations Overview Review Review Information Qatar Ooredoo Qatar QARm Revenue • Compared to Q2 2018, Revenue went slightly up in Q3 2018 -1% mainly due to Ooredoo TV and devices revenue 5,861 5,822 • YoY EBITDA increased due to cost efficiencies • Ooredoo has mor
Slide 13: Operations: Indonesia
Results Operations Additional Group Operations Overview Review Review Information Indonesia QARm Indosat Ooredoo Revenue EBITDA & Margin • Weak 9M revenue and EBITDA due to lower B2C sector • Q3 on Q2 top line growth re-started, supported mostly by data revenue, however legacy revenue decline is sti
Slide 14: Operations: Iraq
Results Operations Additional Group Operations Overview Review Review Information Iraq QARm Asiacell Revenue • Recovery continues with growth in revenue, EBITDA and customer numbers +3% • Further improvement in security and economic situation in 3,347 3,455 the country • EBITDA growing quicker than
Slide 15: Operations: Oman
Results Operations Additional Group Operations Overview Review Review Information Oman QARm Ooredoo Oman Revenue • Healthy revenues and EBITDA growth driven by increases in both mobile and fixed data revenue +3% • Customer base stood at 2.9 million in Q3 2018 compared to 1,995 2,059 3.0 million last
Slide 16: Operations: Kuwait
Results Operations Additional Group Operations Overview Review Review Information Kuwait QARm Ooredoo Kuwait Revenue EBITDA & Margin • YoY revenue increase driven by higher non-recurring revenue -6% • Higher handset sales negatively impacted EBITDA margin, +14% 474 444 sequentially improved to 23% i
Slide 17: Operations: Algeria
Results Operations Additional Group Operations Overview Review Review Information Algeria QARm Ooredoo Algeria Revenue EBITDA & Margin • Algerian mobile market steadily dropped due to persistent -20% price war and weak economic conditions 2,630 1,197 -33% 2,096 • QoQ Total revenue grew 6% with stabl
Slide 18: Operations: Tunisia
Results Operations Additional Group Operations Overview Review Review Information Tunisia QARm Ooredoo Tunisia Revenue EBITDA & Margin • Revenue in Tunisian Dinar terms is 6% above last year, -0% +5% however, flat in Qatari Riyals terms due to FX devaluation • Growth mainly driven by fixed line and
Slide 19: Operations: Myanmar
Results Operations Additional Group Operations Overview Review Review Information Myanmar QARm Ooredoo Myanmar Revenue EBITDA & Margin • Strong top-line performance growth YoY driven by customer and data growth amid increased competition due to forth +10% +87% player entrant in June 18 1,053 961 173
Slide 20: Contents
Contents 1. Results review 2. Operations review 3. Additional information Ooredoo Group 9M 2018 Results | 20
Slide 21: Key Operations Importance to Group
Results Operations Additional Overview Review Review Information Additional Information Key Operations Importance to Group Revenue (QARm) EBITDA (QARm) 24,266 22,775 10,012 10,156 10,459 9,337 24,196 24,476 9M-2015 9M-2016 9M-2017 9M-2018 9M-2015 9M-2016 9M-2017 9M-2018 Qatar 5,897 5,982 5,861 5,822
Slide 22: Group Operations Breakdown: CAPEX & Customers
Results Operations Additional Overview Review Review Information Group Operations Breakdown CAPEX & Customers CAPEX Breakdown (%) Customer Breakdown (%) Others, Others Qatar Myanmar, Myanmar 1% Qatar , 1% 3% 8% 8% 16% Tunisia Tunisia, 7% 4% Algeria 12% Algeria, 13% Kuwait 2% Kuwait, Oman 6% 2% Indon
Slide 23: Total Group Debt Breakdown
Results Operations Additional Group Results Overview Review Review Information Total Group Debt Breakdown Total Group Debt Breakdown Total Group Debt (QARm) (as at September 30, 2018) Long term Short term Indonesia 14% 45,346 42,781 40,251 Others 2,318 6,884 2,455 37,482 7% 11,693 40,463 38,462 37,7
Slide 24: Debt Profile – Ooredoo Q.P.S.C. level
Group Results Debt Profile – Ooredoo Q.P.S.C. level 2,000 1,640 Loans Bonds Sukuk 1,500 1,250 1,040 1,040 1,000 750 690 500 500 500 500 250 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2028 2043 Interest/ Issue Loan Type (in USD mn) Amount Usage Rate* Maturity Bonds/Sukuk (in USD mn) Profit Maturi
Slide 25: Operations Breakdown: Blended ARPU
Results Operations Additional Group Operations Breakdown Overview Review Review Information Blended ARPU Qatar (QAR) Iraq (QAR) Oman (QAR) Maldives (QAR) Palestine (QAR) 56.7 55.4 53.3 52.2 52.9 54.0 116 108 113 111 117 116 30.4 31.2 29.9 28.4 28.4 30.2 60.0 63.3 62.6 58.8 60.3 61.7 28.8 29.7 25.1 2
Slide 26: Statutory Corporate Tax Rates
Results Operations Additional Additional Information Overview Review Review Information Statutory Corporate Tax Rates Statutory Losses C/Fwd 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% Kuwait 1
Slide 27: Thank You
Thank You Full year results 13th February TBC Ooredoo Group 9M 2018 Results |