Slide 1: Ooredoo Group Results Presentation
13 February 2025 OOREDOO GROUP RESULTS PRESENTATION For the year ended 31 December 2024
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: Presenters
Presenters FY 2024 overview & Results review Operations review Looking ahead Aziz Abdulla Aluthman Ahmed Fakhroo Al-Zaman Group CEO Group CFO | 13 February 2025 |
Slide 4: FY 2024 Overview
01 FY 2024 Overview Aziz Aluthman Fakhroo Group CEO | |
Slide 5: Overview of FY 2024
Overview of FY 2024 Delivered a strong financial performance with record high Net Profit, accelerated strategic progress and drove sustainable value creation Strong financial Reaping the benefits of Execution of strategic Creating stakeholder performance a balanced portfolio priorities value • Recor
Slide 6: Results Review
02 Results Review Aziz Aluthman Fakhroo Group CEO | |
Slide 7: Group 2024 YoY highlights
Group 2024 YoY highlights Another year of strong growth driven by sustained operational momentum and a strengthened financial position Growth Profitability Balance sheet Returns Capex +2% +3% (+4%*) intensity +1pp to 13% Free -1% (+1% ) * Revenue EBITDA QAR 23.6 billion QAR 10.0 billion cash flow QA
Slide 8: Group Q4 2024 YoY highlights
Group Q4 2024 YoY highlights Robust Q4 performance Growth Profitability Balance sheet Returns Capex Flat Flat (+2%*) Flat at 21% Free Flat (+3%*) Revenue EBITDA intensity QAR 5.9 billion QAR 2.3 billion cash flow QAR 1.1 billion Capex QAR 1.2 billion Customers +5%*** (-7% ) ** EBITDA Flat (+1pp ) *
Slide 9: Revenue
Revenue Strong, resilient growth, powered by robust operational performances Group revenue Quarterly YoY change QAR mn QAR mn and % Quarterly +2% 0% +14 23,164 23,595 26 6 2 61 84 7% 7% 1% -5% 86 >100% 3% 87 12% (30) 5,923 13% (103) -100% 5,937 7% (206) 2023 2024 Group Iraq Algeria Kuwait Qatar Tuni
Slide 10: EBITDA
EBITDA Healthy topline growth with continued focus on efficiencies drove a strong performance in EBITDA with an industry-leading margin Group EBITDA and margin Quarterly YoY change QAR mn QAR mn and % - Quarterly +3% 0% +3 9,717 10,027 32 12 33 100% -2% -1% -7% 79 12% -3% 24% (1) (1) (18) -11% (25)
Slide 11: Net Profit | 2024 Reported and Normalised
Net Profit | 2024 Reported and Normalised Record high net profit, three consecutive years of growth Net profit attributable to Ooredoo shareholders (QAR mn) Reported Normalised +14% +12% 3,436 3,676 3,016 3,279 2023 2024 2023 2024 Net Profit reconciliation Reported to Normalised (QAR’mn) 2024 2023 3
Slide 12: Net Profit | Q4 2024 Reported and Normalised
Net Profit | Q4 2024 Reported and Normalised Another quarter of strong growth Net profit attributable to Ooredoo shareholders (QAR mn) Reported Normalised +46% +4% 513 745 773 352 Q4-23 Q4-24 Q4-23 Q4-24 Net Profit reconciliation Reported to Normalised (QAR’mn) Q4 2024 Q4 2023 773 745 50 (37) 138 11
Slide 13: Capex
Capex Strategic investment for return Group Capex 2024 (QAR mn) | Capex / Revenue % 2024 (Change %) +13% Iraq 52 Kuwait 34 3,178 2,821 Tunisia 26 Oman 25 Palestine -8 Algeria -9 12% 13% Qatar -9 Maldives -17 2023 2024 Myanmar -66 Capex breakdown Summary 2024 Qatar Iraq 19% • Iraq: Driven by network
Slide 14: Free cash flow (FCF: EBITDA – Capex)
Free cash flow (FCF: EBITDA – Capex ) FCF generation driven by strong financial health and operational discipline Group FCF Quarterly YoY change QAR mn QAR mn -1% 0% 6,896 6,849 0 27 5 4 39 117 (19) >100% (19) (27) 1,097 (60) 1,097 (68) Group Algeria Qatar Others Palestine Maldives Iraq Tunisia Kuwa
Slide 15: Customers
Customers Best-in-class network and unmatched customer experience is attracting more customers to the network Consolidated customers YoY change mn ‘000 +5% -11% 57.6 -6,071 49.1 51.5 1,434 1,361 114 51 13 57,590 >100% (3) (227) (303) 51,519 (8,512) 2023 2023 Excl 2024 Group Q4-23 Iraq Algeria Palest
Slide 16: Debt Profile
Debt Profile Strong liquidity position, low leverage and investment-grade rating sustained QAR’mn Repayment schedule Fixed vsvs Floating Floatingrate ratedebt debt portion Summary Fixed portion 5,619 1,188 • Net Debt/EBITDA ratio of 0.4x, below current Board guidance 8% of 1.5x to 2.5x 16,187 • Stro
Slide 17: Shareholder returns | Dividends
Shareholder returns | Dividends Valuation creation for shareholders with 18% increase in dividend YoY at the top end of the payout ratio Dividend policy – effective 2019 Dividend history Sustainable & progressive dividend policy, 55.0% 40.0% 59.6% 59.1% 58.3% Payout ratio aiming for a dividend payou
Slide 18: Operations Review
03 Operations Review Abdulla Al Zaman Group CFO | |
Slide 19: Qatar
Qatar Maintaining financial discipline in a highly competitive environment | Industry-leading EBITDA margin 2024 Quarterly Trend (QAR mn, % YoY) (QAR mn) +3% +61 7,123 3,683 52% 1,786 1,816 1,763 1,697 1,848 -2% 2% 2pp 51% 52% 54% 53% 48% Revenue EBITDA EBITDA margin 904 948 952 904 879 Q4-23 Q1-24
Slide 20: Kuwait
Kuwait Strong revenue growth driven by strategic focus on innovation and customer experience 2024 Quarterly Trend (QAR mn, % YoY) (KWD mn) +11% +7 3,132 839 68 68 27% 61 64 64 7% -14% -7pp EBITDA 36% Revenue EBITDA 29% 27% 29% 23% margin 22 20 17 20 15 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Revenue EBITDA EB
Slide 21: Oman
Oman Delivered a solid EBITDA margin in a highly competitive market 2024 Quarterly Trend (QAR mn, % YoY) (OMR mn) -5% -3 66 64 62 62 63 2,381 1,084 46% -3% -6% -2pp 47% 44% 46% 46% 44% Revenue EBITDA EBITDA margin 29 30 29 28 27 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Revenue EBITDA EBITDA margin Revenue segm
Slide 22: Iraq
Iraq Rapid growth in a resurgent market 2024 Quarterly Trend (QAR mn, % YoY) (IQD bn) +7% +31 493 477 446 438 463 5,164 2,374 46% 16% 22% 2pp 46% 48% 48% 38% 42% Revenue EBITDA EBITDA margin 203 223 235 199 170 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Revenue EBITDA EBITDA Margin Revenue segments (IQD bn, % Yo
Slide 23: Algeria
Algeria Accelerated revenue and customer growth due to strategic network investment with an improving financial position 2024 Quarterly Trend (QAR mn, % YoY) (DZD bn) +12% +3 28 27 24 24 25 2,839 1,199 42% 15% 21% 2pp 46% 40% 43% 41% 39% Revenue EBITDA EBITDA margin 13 10 10 10 11 Q4-23 Q1-24 Q2-24
Slide 24: Tunisia
Tunisia Solid growth in revenue and EBITDA backed by targeted investments and operational efficiencies 2024 Quarterly Trend (QAR mn, % YoY) (TND mn) +7% +22 347 345 322 308 319 1,542 642 42% 5% 16% 4pp 40% 41% 42% 43% 37% Revenue EBITDA EBITDA margin 120 122 132 146 148 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
Slide 25: Maldives
Maldives Strong revenue performance for 2024 maintaining market leadership position 2024 Quarterly Trend (QAR mn, % YoY) (MVR mn) +1% +7 557 554 541 544 564 520 284 55% 5% 2% -2pp 59% 53% 54% 54% 57% Revenue EBITDA EBITDA margin 328 324 296 290 292 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Revenue EBITDA EBITDA
Slide 26: Palestine
Palestine Navigated a challenging operating environment to deliver a resilient 2024 performance 2024 Quarterly Trend (QAR mn, % YoY) (USD mn) +7% +2 - 27 28 28 27 397 146 37% 25 0% -6% -2pp 38% 40% 38% EBITDA 34% 31% Revenue EBITDA margin 10 11 10 8 8 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Revenue EBITDA EBI
Slide 27: IOH | Solid indicators overall
IOH | Solid indicators overall Revenue (IDR tn) EBITDA (IDR tn) & margin +9% +10% 55.9 26.3 51.2 23.9 47% 47% 2023 2024 2023 2024 Net Profit (IDR tn) Customers (mn) +10% -4% 5.3 98.8 94.7 4.8 2023 2024 2023 2024 Share in Net profit of IOH of 32.8% is reported by 27 Ooredoo Group above EBITDA
Slide 28: Looking Ahead
04 Looking Ahead Aziz Aluthman Fakhroo Group CEO | |
Slide 29: Strategic Partnerships in 2025
Strategic Partnerships in 2025 Accelerate expansion Sea cable and fibre Data centres Ooredoo spearheads largest regional submarine cable in Ooredoo has partnered with Iron Mountain to Accelerate partnership with Alcatel Data Centre Growth Across MENA • On 30 January announced a historic agreement wi
Slide 30: Looking ahead
Looking ahead We remain focused on executing our strategy; Building on our successes to become MENA region’s leading telecom & digital infrastructure provider Sustain operational and financial momentum by retaining high-value customers, making targeted investments and utilising AI to drive operation
Slide 31: 2024 actual vs 2025 guidance
2024 actual vs 2025 guidance % change Group Finance KPIs 2024 Actual 2024 Guidance Achieved 2025 Guidance (YoY) Revenue QAR 23.6 billion +2% Flat Exceeded 2%-3% EBITDA margin 42.5% +1pp ~low 40%’s Met low 40%’s Capex QAR 3.2 billion +13% ~QAR 3.5 billion Met QAR 4.5 – 5.0 billion || | | 31
Slide 32: Appendices
05 Appendices | |
Slide 33: KPIs Technology: Q4 2024
KPIs Technology: Q4 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 8,178 99.58% 94.50% 1,655,119,936 92.45% Iraq 8,128 99.46% 98.68% 1,108,294,376 91.74% K
Slide 34: KPIs Commercial: FY 2024
KPIs Commercial: FY 2024 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 5% - 40 8,631 1,350 97% 48% 1 13% Iraq 7% - 44.3 10,906 4,637 51% 57% 2 2% Kuwait 3% 2% 48 2,139
Slide 35: Blended ARPU
Blended ARPU Qatar (QAR) Iraq (QAR) Oman (QAR) Maldives (QAR) 104 103 101 102 102 24.8 23.4 38.4 40.2 41.2 72.0 70.8 70.3 68.3 69.7 22.6 22.8 22.6 36.3 38.1 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Palestine (QAR) Kuwait
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
Slide 37: Statutory corporate income tax (CIT) rates
Statutory corporate income tax (CIT) rates Statutory Losses Carry Forward Country Comments CIT rate Allowed No CIT is levied on a corporate entity that is wholly owned by Qatari nationals and GCC nationals that are resident in Qatar and companies listed on Qatar Stock Exchange. Listed companies are
Slide 38: Thank You
THANK YOU @OoredooIR • IR@ooredoo.com • www.ooredoo.com Download our IR app | |