Slide 1: Ooredoo Group FY 2019 Results
Ooredoo Group FY 2019 Results Feb 2020
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 Overview Results review Operations review Additional information Key Highlights Solid financial performance in challenging conditions Group Revenue was FY 2019 Group EBITDA Group Net Profit Increased monetization 117 million customers, up stable at QAR 29.9 billion, increased by 5% yea
Slide 5: Revenue and EBITDA
Group Results Overview Results review Operations review Additional information Revenue and EBITDA Revenue (QARm) EBITDA (QARm) and EBITDA Margin -0% 29,927 29,916 +5% 12,847 +11% +8% 12,202 7,950 3,183 2,865 43% 7,396 41% 40% 39% FY-18 FY-19 Q4-18 Q4-19 FY-18 FY-19 Q4-18 Q4-19 • Revenue growth in L/
Slide 6: Net Profit
Group Results Overview Results review Operations review Additional information Net Profit Net Profit Attributable to Ooredoo shareholders (QARm) +10% 1,911 -3% 1,725 1,565 1,577 473 460 Net Profit 404 Net Profit 308 F/X Impact F/X Impact Pre F/X Net Pre F/X Net Profit Profit 152 147 69 (346) Q4-18 Q
Slide 7: Free Cash Flow and Capital Expenditure
Group Results Overview Results review Operations review Additional information Free Cash Flow and Capital Expenditure CAPEX (QARm) & CAPEX/ Revenue (%) Free Cash Flow (QARm) +20% 5,869 4,921 -20% 4,872 +23% 3,958 468 2,426 1,966 20% 16% 31% 27% -71% 134 FY-18 FY-19 Q4-18 Q4-19 FY-18 FY-19 Q4-18 Q4-1
Slide 8: Total customers
Group Results Overview Results review Operations review Additional information Total customers Total Customers (millions) +18% 163.9 -30% +2% 138.4 115.2 117.2 FY-16 FY-17 FY-18 FY-19 • Growing customer numbers in Indonesia, Myanmar, Kuwait, Tunisia, & Palestine 8
Slide 9: Net debt
Group Results Overview Results review Operations review Additional information Net debt Net Debt (QARm) and Net Debt / EBITDA -9% +12% 27,715 -11% 25,138 24,975 22,260 Pre IFRS 16: • Net Debt QR 19,213m (-14% YoY) 2.0 • Net Debt/EBITDA ratio: 1.5x 1.8 1.8 1.8 FY-16 FY-17 FY-18 FY-19 • Positive trend
Slide 10: Dividend
Dividend Overview Results review Operations review Additional information • The Board recommends the distribution of a cash dividend of QAR 0.25 per share for FY 2019, in line with FY 2018 • AGM on 4th of March 2020 • Payout ratio for FY 2019: around 50% • Ooredoo Board approved a sustainable and pr
Slide 11: 2019 FY performance summary
Group Results Overview Results review Operations review Additional information 2019 FY performance summary 2019 Full Year 2020 Full Year Group Financials 2019 % Change Guidance over Guidance over 2019 (QAR bn) Actual 2019 / 2018 2018 Revenue 29.9 0% -3.0% to 0% -1.5% to +1.5% EBITDA 12.8 -3%* -7% to
Slide 12: Contents
Contents 1 Results review 2 Operations review 3 Additional information 12
Slide 13: Qatar
Qatar Overview Results review Operations review Additional information QARm • Retained No.1 position - Ooredoo’ s fixed line and mobile networks in Qatar Revenue EBITDA EBITDA Margin ranked among fastest globally • FY Revenue down by 6% yoy mainly due to fewer handset sales, Q4 2019 up by 7% compare
Slide 14: Indonesia
Indonesia Overview Results review Operations review Additional information QARm 1,882 1,692 1,571 1,557 1,596 • Solid Top line growth due to strong cellular and data business, third 6,728 consecutive growth quarter recorded 5,919 • EBITDA margins improved to 43% driven by favorable product mix, effi
Slide 15: Iraq
Iraq Overview Results review Operations review Additional information QARm Revenue EBITDA EBITDA Margin 47% 45% • Asiacell’s full year revenue increased by 3% YoY, revenue increased 4,572 every quarter this year 46% 46% 4,449 42% 44% 43% • EBITDA margins stood at 45% 1,264 • Pre IFRS 16 EBITDA QAR 1
Slide 16: Oman
Oman Overview Results review Operations review Additional information QARm Revenue EBITDA EBITDA Margin 54% 55% 55% 57% 57% 2,685 2,703 55% 52% • Total revenue increased by 1%, yoy driven by higher fixed revenue and device sales 704 • EBITDA margins improved by 1%, mainly due to adoption of IFRS 16
Slide 17: Kuwait
Kuwait Overview Results review Operations review Additional information QARm 739 710 694 673 666 2,905 2,772 • QoQ Revenue increased by 11% 217 210 221 205 231 662 867 • EBITDA margin improved yoy to 31% due to more favorable product Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 mix and IFRS 16 FY-18 FY-19 • Pre IF
Slide 18: Algeria
Algeria Overview Results review Operations review Additional information QARm 663 644 613 628 616 2,760 2,501 • Revenue decreased 2% QoQ due to intense competition, weak economy resulting in an overall market shrinking 228 261 199 204 204 1,029 867 • EBITDA lower due to decrease in revenue Q4-18 Q1-
Slide 19: Tunisia
Tunisia Overview Results review Operations review Additional information QARm 407 374 379 360 1,526 1,476 329 • Revenue grew 7% in LC currency yoy supported by strong mobile revenue growth as well as increase in data and fixed Revenue 118 142 179 202 159 595 682 • Solid FY EBITDA up by 27% in LC cur
Slide 20: Myanmar
Myanmar Overview Results review Operations review Additional information QARm 275 273 1,262 261 260 255 1,062 92 75 • Revenue impacted by 4th operator entry and FX depreciation 59 197 • FY EBITDA increased YoY impacted by IFRS-16; EBITDA declined QoQ mainly 24 280 54 due to one-off cost of new acqui
Slide 21: 2020 Qatar Exchange Annual IR Excellence
2020 Qatar Exchange Annual IR Excellence We would like to thank you for your support for the fifth year on winning four awards | |
Slide 22: 2020 Ooredoo Capital Markets Day
2020 Ooredoo Capital Markets Day Save the date: CMD 21st Sep 2020 (location and timing to be confirmed) More details in due course 22
Slide 23: Contents
Contents 1 Results review 2 Operations review 3 Additional information 23
Slide 24: Key Operations Importance to Group
Additional Information Overview Results review Operations review Additional information Key Operations Importance to Group Revenue (QARm) EBITDA (QARm) 32,646 29,927 29,916 13,379 13,640 12,202 12,847 32,503 % % FY-16 FY-17 FY-18 FY-19 FY-16 FY-17 FY-18 FY-19 delta delta Qatar 8,007 7,791 7,742 7,30
Slide 25: CAPEX & Customers Breakdown
Group Operations Breakdown Overview Results review Operations review Additional information CAPEX & Customers CAPEX Breakdown (%) Customer Breakdown (%) Others, 1% Others, 2% Myanmar, 4% Qatar , 3% Myanmar, 10% Tunisia, 3% Qatar , 18% Tunisia, 8% Algeria, 10% Algeria, 11% Kuwait, 6% Kuwait, 2% Oman,
Slide 26: Total Group Debt Breakdown
Group Operations Breakdown Overview Results review Operations review Additional information Total Group Debt Breakdown Total Group Debt (QARm) Total Group Debt Breakdown Long Term Short Term Others , 6% 41,100 40,144 3,361 36,966 7,292 Indonesia , 18% 30,932 9,321 5,459 37,739 32,852 27,645 25,474 Q
Slide 27: Debt Profile – Ooredoo Q.P.S.C. level
Group Results Overview Results review Operations review Additional information Debt Profile2,000 – Ooredoo Q.P.S.C. level 1,500 510 1,000 40 20 690 20 500 1,000 1,000 20 750 530 500 500 320 500 20 20 0 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2043 Issue Loans (in USD m) Amount Usage Rate* M
Slide 28: Blended ARPU
Blended ARPU Overview Results review Operations review Additional information Qatar (QAR) Iraq (QAR) Oman (QAR) Maldives (QAR) Palestine (QAR) 54.0 52.3 55.4 52.8 56.2 50.8 116 114 109 112 108 107 28.9 29.2 61.0 60.1 22.8 22.8 23.0 26.8 25.4 25.3 27.1 56.1 53.7 54.4 54.7 21.5 20.9 20.4 Indonesia (QA
Slide 29: Service revenue
Service revenue Overview Results review Operations review Additional information Service revenue +1% 28,179 28,536 +6% 7,066 7,501 FY-18 FY-19 Q4-18 Q4-19 | | 29
Slide 30: OPCOs Licence General Information
OPCOs Licence General Information Overview Results review Operations review Additional 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
Slide 31: Statutory Corporate Tax Rates
Statutory Corporate Tax Rates Overview Results review Operations review Additional information Statutory Statutory Losses LossesC/Fwd C/Fwd Markets Markets Notes Tax TaxRate Rate Allowed Allowed Algeria 26% 4 years Indonesia 25% 5 years Iraq 15% 5 years GCC companies (including NMTC)are exempted and
Slide 32: Thank You
Thank You