Slide 1: Ooredoo Group FY 2018 Results
Ooredoo Group FY 2018 Results February 2019
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 3
Slide 4: Group Results - Key Highlights
Group Results Results Operations Additional Overview Review Review Information Key Highlights Solid financial performance in challenging conditions • 2018 Revenue was QAR 29.9 billion, driven by strong contributions from Oman and Kuwait. Group Revenue before the FX impact decreased by 6%, while repo
Slide 5: Group Results - Revenue and EBITDA
Group Results - Revenue and EBITDA Results Operations Additional Overview Review Review Information Revenue (QARm) EBITDA (QARm) and EBITDA Margin -8% 32,646 -11% 13,640 29,927 12,202 8,170 3,181 -10% 2,865 -12% 42% 41% 7,152 39% 40% FY-2017 FY-2018 Q4-2017 Q4-2018 FY-2017 FY-2018 Q4-2017 Q4-2018 Re
Slide 6: Group Results - Net Profit
Group Results - Net Profit Results Operations Additional Overview Review Review Information Net Profit Attributable to Ooredoo shareholders (QARm) -18% 1,897 1,911 1,819 +40% 1,565 Net Profit Net Profit 473 404 Net F/X 339 316 Net F/X Pre F/X Net Pre F/X Net Profit Profit 69 23 78 Q4-17 Q4-18 (346)
Slide 7: Group Results - Free Cash Flow and Capital Expenditure
Results Operations Additional Group Results - Free Cash Flow and Capital Expenditure Overview Review Review Information CAPEX (QARm) & CAPEX/ Revenue (%) Free Cash Flow (QARm) +7% 6,167 4,872 -20% 4,541 4,921 +2% 586 1,936 1,966 -20% 468 16% 14% 24% 27% FY-2017 FY-2018 Q4-2017 Q4-2018 FY-2017 FY-201
Slide 8: Group Results - Total Customers
Group Results - Total Customers Results Operations Additional Overview Review Review Information Total Customers (000) +18% +19% 163,946 -30% 138,422 116,751 115,225 FY-2015 FY-2016 FY-2017 FY-2018 Growing customer numbers in Iraq, Kuwait, Tunisia, Myanmar & Palestine offset by the SIM card registra
Slide 9: Group Results - Net Debt Overview
Group Results - Net Debt Overview Results Review Operations Review Additional Information Net Debt (QARm) and Net Debt / EBITDA -3% -9% 28,489 27,715 -11% 25,138 22,260 2.2 2.0 1.8 1.8 FY-2015 FY-2016 FY-2017 FY-2018 Positive trend of Group Net Debt reduction continued; Net Debt to EBITDA ratio 1.8x
Slide 10: 2018 FY performance summary and 2019 guidance
Group Results Results Operations Additional Overview Review Review Information 2018 FY performance summary 2018 Full Year 2019 Full Year Group Financials 2018 % Change Guidance over Guidance over (QAR bn) Actual 2018 / 2017 2017 2018 Revenue 29.9 -8.3% -3.5% to -6.5% -3% to 0% EBITDA 12.2 -10.5% -5.
Slide 11: Contents
Contents 1. Results review 2. Operations review 3. Additional information 11
Slide 12: Qatar
Results Operations Additional Overview Qatar Review Review Information QARm • Strong No.1 position maintained - Ooredoo’ s fixed line and mobile networks in Qatar ranked among fastest globally • Revenue slightly down due to fewer handset sales, Revenue EBITDA EBITDA Margin underlying service revenue
Slide 13: Indonesia
Results Operations Additional Overview Indonesia Review Review Information QARm • Strong return on the top line is recorded for two consecutive quarters, post sim card registration 8,145 1,980 • Continue to pursue tariff adjustment across product 5,919 lines to improve revenue share 1,529 1,571 1,40
Slide 14: Iraq
Results Operations Additional Overview Iraq Review Review Information QARm • Security situation stabilized further • Excluding IFRS 15 impact, Asiacell’s full year revenue increased by 3.3% YoY • Higher data revenue Revenue EBITDA EBITDA Margin 44% 47% • Yoy EBITDA increase by 6% due to cost control
Slide 15: Oman
Results Operations Additional Overview Oman Review Review Information QARm • YoY revenues growth was driven by increases in both mobile and fixed data revenue. Excluding IFRS 15 impact, OML’s full year revenue increased by 3.1% YoY in local currency terms • EBITDA margin was stable Revenue EBITDA EB
Slide 16: Kuwait
Results Operations Additional Overview Kuwait Review Review Information QARm • QoQ Revenue increased by 9% driven by higher recurring and device sales 795 • EBITDA margin improved sequentially to 30.6% due 748 750 2,905 710 2,675 650 to seasonality, slight pricing recovery and one off adjustment in
Slide 17: Algeria
Results Operations Additional Overview Algeria Review Review Information QARm • Revenue decreased 4% QoQ in local currency due to intense competition, weak economy and overall 792 market shrinking 733 3,422 668 695 663 • EBITDA lower due to decrease in revenue 2,760 • Customer number stood at 13.9 m
Slide 18: Tunisia
Results Operations Additional Overview Tunisia Review Review Information QARm • 9% Revenue growth yoy in local currency terms, offset by FX depreciation of the Tunisian Dinar of 9% 377 387 385 380 374 1,530 1,526 • Q4 EBITDA decrease due to higher opex mainly due to change in royalty accounting and
Slide 19: Myanmar
Results Operations Additional Overview Myanmar Review Review Information QARm • Revenue negatively impacted by aggressive pricing initiated by the new market entrant. Discount on floor 363 355 350 1,324 1,262 pricing peaked at 55%; Excluding IFRS 15 impact, 296 OML’s full year revenue increased by 5
Slide 20: 2019 Qatar Exchange Annual IR Excellence
2019 Qatar Exchange Annual IR Excellence We would like to thank you for your support for the forth year on winning five awards 20
Slide 21: 2019 Ooredoo Capital Markets Day
2019 Ooredoo Capital Markets Day Save the date: CMD 19th June 2019, probably in Oman (location and timing to be confirmed) More details in due course 21
Slide 22: Contents
Contents 1. Results review 2. Operations review 3. Additional information 22
Slide 23: Additional Information - Key Operations Importance to Group
Additional Information Results Operations Additional Overview Review Review Information Key Operations Importance to Group Revenue (QARm) EBITDA (QARm) 32,161 32,503 32,646 29,927 13,379 13,640 13,018 12,202 FY-2015 FY-2016 FY-2017 FY-2018 % delta FY-2015 FY-2016 FY-2017 FY-2018 % delta Qatar 7,897
Slide 24: Group Operations Breakdown - CAPEX & Customers
Group Operations Breakdown Results Operations Additional Overview Review Review Information CAPEX & Customers CAPEX Breakdown (%) Customer Breakdown (%) Myanmar, 8% Others, 2% Myanmar, Others, 2% 7% Qatar , 15% Qatar , 3% Tunisia, 3% Tunisia, 8% Algeria, 11% Algeria, 12% Kuwait, 6% Kuwait, 2% Indone
Slide 25: Group Results - Total Group Debt Breakdown
Results Operations Additional Group Results - Total Group Debt Breakdown Overview Review Review Information Total Group Debt (QARm) Total Group Debt Breakdown Long Term Short Term Others , 43,101 7% 41,100 40,144 6,714 3,361 36,966 7,292 Indonesia , 9,321 15% 36,386 37,739 32,852 27,645 Qatar, 78% F
Slide 26: Debt Profile - Ooredoo Q.P.S.C. level
Group Results Results Operations Additional Overview Review Review Information Debt Profile – Ooredoo Q.P.S.C. level 2,000 1,500 Undrawn RCF 1,040 90 390 1,000 40 500 1,000 950 1,000 690 750 600 500 500 500 0 2019 2020 2021 2022 2023 2024 2025 2026 2028 2043 Issue Loans (in USD mn) Amount Usage Rate
Slide 27: Blended ARPU
Blended ARPU Results Operations Additional Overview Review Review Information Qatar (QAR) Iraq (QAR) Oman (QAR) Maldives (QAR) Palestine (QAR) 55.4 53.3 52.2 52.9 54.0 52.3 63.3 62.6 108 113 111 117 116 114 31.2 29.9 27.3 27.2 28.9 26.8 56.8 58.3 61.0 60.1 29.7 25.1 23.1 22.7 22.8 21.5 Indonesia (QA
Slide 28: Statutory Corporate Tax Rates
Statutory Corporate Tax Rates Results Operations Additional Overview Review Review Information 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% Zakat, KFAS Kuwait 18% 3 years
Slide 29: Thank You
Thank You Next Quarterly Results (tbc)