Slide 1: Ooredoo Group 1H 2017 Results
Ooredoo Group 1H 2017 Results 27 July 2017
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 1H 2017 Results 3
Slide 4: 2017 1H Highlights
Results Operations Additional Overview Review Review Information Group Results 2017 1H Highlights Solid financial performance • Revenue in H1 2017 increased to QAR 16.3 billion an improvement of 2% over H1 2016. In local currency terms, growth was driven by Ooredoo Qatar, Ooredoo Oman, Ooredoo Kuwai
Slide 5: Revenue and EBITDA
Results Operations Additional Overview Review Review Information Group Results Revenue and EBITDA Revenue (QARm) EBITDA (QARm) and EBITDA Margin -3% -1% +2% 16,504 16,259 16,042 15,914 +7% -6% 0% 6,870 6,939 6,456 6,478 42% 41% 43% 40% 1H'14 1H'15 1H'16 1H'17 1H'14 1H'15 1H'16 1H'17 Revenue growth i
Slide 6: Net Profit and Net Debt
Results Operations Additional Overview Review Review Information Group Results Net Profit and Net Debt Net Profit Attributable to Ooredoo Net Debt (QARm) and Net Debt / shareholders (QARm) EBITDA Net Foreign Exchange -6% +0% 31,443 -6% 29,672 29,593 1,704 27,858 +46% -41% 1,462 -25% 1,002 1,097 922
Slide 7: Free Cash Flow and Capital Expenditure
Results Operations Additional Overview Review Review Information Group Results Free Cash Flow and Capital Expenditure Free Cash Flow (QARm) CAPEX (QARm) & CAPEX/ Revenue (%) -3% 3,952 3,847 +14% +197% 3,840 -37% 3,383 2,411 -32% 1,640 24% 24% 1,859 -39% 1,138 15% 10% 1H'14 1H'15 1H'16 1H'17 1H'14 1H
Slide 8: Total Customers
Results Operations Additional Overview Review Review Information Group Results Total Customers Total Customers (000) +14% +14% 149,216 +21% 130,424 113,913 94,331 1H'14 1H'15 1H'16 1H'17 Almost 19 million net new customers added YoY Mainly from Indonesia, Iraq, Algeria and Tunisia Ooredoo Group 1H 2
Slide 9: Total Group Debt Breakdown
Results Operations Additional Overview Review Review Information Group Results Total Group Debt Breakdown Total Group Debt Breakdown Total Group Debt (QARm) (as of June 30, 2017) Short Others Term 9% 45,863 42,193 43,989 Indonesia 41,107 13% 4,204 4,756 7,656 3,191 38,989 39,233 38,207 37,916 Qatar
Slide 10: Debt Profile – Ooredoo Q.S.C. level
Results Operations Additional Overview Review Review Information Group Results Debt Profile – Ooredoo Q.S.C. level 2,000 Loans Bonds Sukuk 1600 1,500 1250 1000 1000 1000 1,000 750 650 500 500 500 500 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2028 2043 Interest/ Issue Loan Type (in USD mn)
Slide 11: 2017 1H performance summary
Results Operations Additional Overview Review Review Information Group Results 2017 1H performance summary % Change 2017 Annual QAR Billion 1H 2017 1H 2017 / 1H 2016 Guidance Consolidated Revenue 16.3 +2% -1% to +2% EBITDA 6.9 +7% 0% to +3% Capital Expenditure 1.6 -32% 5.5 bn to 6.5 bn Revenue on up
Slide 12: Contents
Contents 1. Results review 2. Operations review 3. Additional information Ooredoo Group 1H 2017 Results 12
Slide 13: Operations: Qatar
Results Operations Additional Overview Review Review Information Group Operations Qatar QARm Qatar Revenue 0% 4,033 4,042 § Strong No.1 position maintained - Ooredoo’s fixed line and mobile networks in Qatar ranked among fastest globally § Number of customers up by 4% to reach 3.5m 1H'16 1H'17 § Pos
Slide 14: Operations: Indonesia
Results Operations Additional Overview Review Review Information Group Operations Indonesia QARm Indonesia Revenue EBITDA & Margin +9% 4,129 +11% 3,787 1,939 1,740 § Strong revenue growth in all segments § Double digit growth EBITDA performance due to high top line 46% 47% growth during Eid Al-Fitr
Slide 15: Operations: Iraq
Results Operations Additional Overview Review Review Information Group Operations Iraq QARm Iraq Revenue +4% 2,095 2,175 § Positive revenue trend in a more stable market despite a reduction of the interconnect rates § Improvement in Mosul, more sites are back on-air, after 1H'16 1H'17 liberation of
Slide 16: Operations: Oman
Results Operations Additional Overview Review Review Information Group Operations Oman QARm Oman Revenue +2% 1,298 1,318 § Revenues growth is driven by increases in both mobile and fixed data revenue. § EBITDA was marginally impacted by higher customer 1H'16 1H'17 acquisition cost EBITDA & Margin §
Slide 17: Operations: Kuwait
Results Operations Additional Overview Review Review Information Group Operations Kuwait QARm Kuwait Revenue EBITDA & Margin +4% 1,210 1,258 +25% 322 257 § Overall market size decreasing due to intense competition and weak macro environment 21% 26% § Higher non-recurring business driving revenue inc
Slide 18: Operations: Algeria
Results Operations Additional Overview Review Review Information Group Operations Algeria QARm Algeria Revenue EBITDA & Margin -6% +12% 1,846 1,738 778 693 § Ooredoo Algeria maintains revenue market share leadership 45% 38% despite challenging market conditions and fierce price competition 1H'16 1H'
Slide 19: Operations: Tunisia
Results Operations Additional Overview Review Review Information Group Operations Tunisia QARm Tunisia Revenue EBITDA & Margin -11% 839 -10% 744 307 278 § Revenue growth in local currency terms, offset by FX depreciation of the Tunisian Dinar by 13% 37% 37% § Mobile: continuing data growth yoy 1H'16
Slide 20: Operations: Myanmar
Results Operations Additional Overview Review Review Information Group Operations Myanmar QARm Myanmar Revenue EBITDA & Margin -13% 717 624 44 § Customer base reached 8.3 million, on 1st April the PTD (3) introduced customer registration regulation leading to the 7% disconnection of unregistered non
Slide 21: Contents
Contents 1. Results review 2. Operations review 3. Additional information Ooredoo Group 1H 2017 Results 21
Slide 22: Additional Information Overview
Additional Information Overview Results Review Strategy Review Operations Review Additional Information Key Operations Importance to Group Revenue (QARm) EBITDA (QARm) 16,504 16,259 6,870 6,939 16,042 15,914 6,456 6,478 1H'14 1H'15 1H'16 1H'17 1H'14 1H'15 1H'16 1H'17 Qatar 3,502 4,003 4,033 4,042 Qa
Slide 23: Operations Breakdown: CAPEX & Customers
Results Operations Additional Overview Review Review Information Group Operations Breakdown CAPEX & Customers CAPEX Breakdown (%) Customer Breakdown (%) Others Qatar Others Tunisia 0.8% Tunisia 3.7% 5.4% 2.4% Iraq 4.7% Qatar Myanmar 8.2% 23.0% 5.6% Myanmar 9.8% Algeria 9.4% Kuwait 1.5% Iraq Algeria
Slide 24: Operations Breakdown: Blended ARPU
Results Operations Additional Overview Review Review Information Group Operations Breakdown Blended ARPU Qatar (QAR) Iraq (QAR) Oman (QAR) Maldives (QAR) Palestine (QAR) 32.9 31.4 32.2 54.9 56.7 30.3 29.0 30.4 51.2 51.9 52.5 48.6 114.3 119.8 126.7 120.9 116.6 115.7 29.5 30.6 30.2 27.2 26.7 28.8 67.0
Slide 25: Statutory Corporate Tax Rates
Results Operations Additional Overview Review Review Information Additional 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% Zakat, K
Slide 26: Thank You
Thank You Website: ooredoo.com Follow us Email: IR@ooredoo.com Twitter: @OoredooIR Ooredoo Group 1H 2017 Results 26