Vodafone Qatar Qsc · QSE:VFQS
Vodafone Qatar Qsc — Vodafone Qatar P.Q.S.C. — FY2025 Earnings Presentation
27 slides from Vodafone Qatar Qsc's earnings presentation, Feb 4, 2026
Slide 1: Vodafone Qatar P.Q.S.C. Investor Presentation: Financial Performance Year Ended 31 December 2025
Vodafone Qatar P.Q.S.C. Investor Presentation Financial Performance: Year Ended 31 December 2025
Slide 2: Disclaimer
Disclaimer • The following presentation is made only to, and is directed only at, persons to whom such a presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. • This presentation may
Slide 3: Performance Highlights
Hamad Al-Thani Performance Chief Executive Officer Highlights
Slide 4: Key Highlights
Key Highlights FY25 Financial Enhanced Customer Growing Beyond Proposed Dividend Performance Experience Core • Total Revenue reached • Value-driven product • Strategic investments to • Proposed dividend of 12% QR 3,447m (+8.1% YoY) portfolio and features fuel diversification per share (QR 507m)* • N
Slide 5: Enhanced Customer Experience: Value-driven Product Portfolio & Features
Enhanced Customer Experience ⋮ Value-driven Product Portfolio & Features Consumer Enterprise Fintech • Innovation and Differentiation • ICT Services • Ecosystem Expansion Advanced Features that appeal to high Expanded portfolio delivering end-to-end Strengthened the financial services value customer
Slide 6: Enhanced Customer Experience: Network & Technology Infrastructure Upgrade
Enhanced Customer Experience ⋮ Network & Technology Infrastructure Upgrade Network Technology 3G Sunset Coverage Modernization • +8% year-on-year increase in mobile Investing and modernizing key • 3G mobile network has been shutdown network sites. More than 90% of the 5G technologies to enable AI-dr
Slide 7: Growing Beyond Core: Strategic Investments and Partnerships
Growing Beyond Core ⋮ Strategic Investments and Partnerships Joint Venture Agreement Partnerships broadening with Sirti Digital Solutions strategic opportunities • Combining Sirti Digital Solutions’ Launched a portfolio of solutions with leading digital-infrastructure expertise with our partners acr
Slide 8: Financial Performance
Masroor Anjum Financial Chief Financial Officer Performance
Slide 9: Key Highlights
Key Highlights Sustained Strong Cost Accelerating Robust Cash flow topline growth Discipline and Profitability Generation momentum Operating Leverage Momentum • 8.1% increase in Total • Direct costs (excl. • 10.5% growth in EBITDA • 41% growth in Revenue equipment) largely flat operating cashflow •
Slide 10: FY25 Year on Year: Sustained Momentum in Revenue and Earnings
FY25 Year on Year ⋮ Sustained Momentum in Revenue and Earnings Revenue Expenses EBITDA Net Profit • Total revenue increased by QR 257m +8.1% +6.2% +10.5% +16.8% (+8.1%), driven by growth across all core 3,447 1,939 1,507 702 revenue segments and higher equipment 3,190 1,825 sales 475 1,364 +5.0% 359
Slide 11: Service Revenue: Continuous growth across all segments
Service Revenue ⋮ Continuous growth across all segments Postpaid Prepaid Wholesale, Mgd. Services & Fixed Service Revenue CAGR CAGR +4.0% CAGR +2.8% +1.2% +7.4% +5.0% +9.1% CAGR 1,345 596 +5.6% 2,971 1,302 1,308 578 +18.4% 2,831 1,296 550 1,049 2,762 520 529 993 2,617 946 1,148 2,230 719 533 FY21 FY
Slide 12: FY26 Underlying Net Profit – Excluding one-time costs / benefits
FY26 Underlying Net Profit – Excluding one-time costs / benefits 715 702 5 15 (29) 4 (14) 11 (7) 5 (4) +22% 585 FY25 Direct Cost 1 OPEX Vendor Gain on Regulatory Core Cost Technology Impact on Tax FY25 FY24 Reported settlement acquisition 3 Changes Upgrade Optimization Modernization related fees Und
Slide 13: Key Ratios: Driving Margin Expansion Through Operational Excellence
Key Ratios ⋮ Driving Margin Expansion Through Operational Excellence OPEX Intensity EBITDA Margin Reported Reported Margin Underlying Reported excl. World cup & one-offs +2.8ppts Underlying margin** 48.6% 24.7% 24.5% 45.8% -1.3ppts 24.1% 45.2% 45.1% 24.0% 23.4% +1.4ppts 23.7% 43.8% 43.7% 42.8% 23.1%
Slide 14: Capital Expenditure: Investments driving profitable growth
Capital Expenditure ⋮ Investments driving profitable growth Capital expenditure (CAPEX) Net Profit Margin and Return on Equity (ROE) Net Profit Margin ROE 21.5% 17.7% 1.5ppts 16.1% 13.8% 15.5% 20.4% 660 18.8% 550 17.4% 535 16.4% 441 408 1.6ppts 13.6% 13.0% 12.0% 11.1% 10.7% 7.2% FY21 FY22 FY23 FY24
Slide 15: FY25 Year on Year: Driving sustained yields through disciplined cash management
FY25 Year on Year ⋮ Driving sustained yields through disciplined cash management Cash Flow Operating Free Cash Flow Yield EBITDA 1,507 2.44 CAPEX (535) +33% 1.91 1.83 Operating 1.67 973 1.59 Cash Flow (OCF) 10.6% Working Capital 13 9.6% Movements 9.4% Operating Free 985 Cash Flow (OFCF) 6.9% Leases
Slide 16: FY25 Year on Year: Robust Operational Cash Flows
FY25 Year on Year ⋮ Robust Operational Cash Flows Free Cash flow Net Debt 1 Net Debt to Equity +225m (+40.7%) -253m -5.0ppts • Free cash flow increased 40.7% 280 5.5% 779 reflecting strong collections and working capital optimization initiatives 554 • Despite higher dividend pay-out for FY24, net de
Slide 17: 5 Year Trends: Net Profit more than doubled
5 Year Trends : Net Profit more than doubled Service Revenue Total Revenue EBITDA Net Profit 1,507 CAGR CAGR CAGR 702 +7.4% 2,971 3,600 +8.1% +10.0% CAGR 3,447 +21.0% 3,500 2,831 3,400 1,364 2,762 3,300 601 3,190 3,200 3,111 1,286 3,066 1,234 540 2,617 3,100 502 3,000 2,900 2,800 2,700 2,526 1,031 2
Slide 18: Financial Performance v/s FY25 Guidance
Financial Performance v/s FY25 Guidance FY24 FY25 FY25 Financial KPIs Results Guidance Actuals Total revenue QR 3,190m > 7% YoY QR 3,447m + 8.1 % EBITDA Margin U/L 41.8% ~ 42.5% U/L 43.2% + 1.4ppts Net Profit U/L QR 585m ~ 15% YoY U/L QR 715m + 22 % CAPEX intensity 13.8% ~ 15.5% 15.5% - FY25 FY25 Q3
Slide 19: FY26 Guidance
FY26 Guidance Financial KPIs FY25 Results FY26 Guidance Total revenue QR 3,447m + YoY% EBITDA Margin U/L 43.2% > 43% CAPEX intensity 15.5% 14.5% - 15.5% FY25 FY25 Q3 YTDFinancial FinancialResults Performance 19 04 February 2026 22 October 2025
Slide 20: Together we can
Together we can O vodafone
Slide 21: Financial Performance Appendix
Financial Appendix Performance For more information visit our website: www.vodafone.qa/en/investor-relations Or email us: InvestorRelationsQatar@vodafone.qa
Slide 22: Consolidated Statement of Income
Consolidated Statement of Income Year ended 31 December • Total revenue increased by QR 257 million, driven by QR m (unless otherwise stated) 2025 2024 YoY growth across all core revenue segments and higher Revenues 3,447 3,190 257 equipment sales. Interconnection and other direct expenses (1,135) (
Slide 23: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position QR m (unless otherwise stated) 31 Dec 25 31 Dec 24 Var Property, plant and equipment 1,959 1,958 1 Assets Intangible assets 3,819 3,895 (76) • Property, plant & equipment and intangible assets decreased by QR Right-of-use assets 386 337 48 75m due to depr
Slide 24: FY25 Q4 Year on Year: Growth momentum continues
FY25 Q4 Year on Year ⋮ Growth momentum continues Revenue* Expenses* EBITDA Net Profit +7.9% +1.2% +16.3% +26.9% • Service revenue grew 6.4% driven by 866 449 455 411 208 growth across all segments – prepaid, 803 98 6.4% postpaid and fixed 81 353 180 202 164 • Expenses higher mainly due to revenue re
Slide 25: Mobility Subscribers
Mobility Subscribers Postpaid Prepaid Total Mobility +9.7% +0.8% +3.2% 615 1,547 1,554 1,532 1,559 2,174 2,108 2,123 2,108 2,080 1,487 593 577 569 561 FY24 Q4 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY24 Q4 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY24 Q4 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 All numbers in thousands
Slide 26: Mobility ARPU
Mobility ARPU* Postpaid Prepaid Total Mobility +12.4% +5.6% -2.7% 196.9 193.6 192.9 33.7 78.8 192.0 191.6 75.6 75.9 31.9 74.6 73.1 30.9 30.0 29.4 FY24 Q4 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY24 Q4 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY24 Q4 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 ARPU is reported in Qatari Ri
Slide 27: Thank you!
_ Thank you!
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