Press releases, Reports & Disclosures for OOREDOO

Ooredoo Q.P.S.C. in Doha, Qatar, has released its condensed consolidated interim financial information for the six-month period ending June 30, 2024.

Ooredoo Q.P.S.C. announced its financial results for the first half of 2024, showing solid commercial and financial performance with a 14% increase in normalized net profit. Key highlights include a 3% rise in revenue to QAR 11.8 billion, a 6% increase in EBITDA to QAR 5.1 billion, and a 1 percentage point rise in EBITDA margin to 43%. The company also reported a CAPEX spend of QAR 1.0 billion and a 6% growth in normalized free cash flow to QAR 4.1 billion. The customer base stood at 150.6 million, including IOH and excluding Myanmar. The disposal of Ooredoo Myanmar was completed on 31 May 2024, and its results are included until that date. The company is on track to meet its full-year 2024 guidance.

Ooredoo Q.P.S.C. will disclose its financial results for the first half of 2024 on July 30, 2024, following a financial review meeting at 13:30. A conference call to discuss the results is scheduled for August 5, 2024, with the presentation available on the company's website. The call will take place at 14:00 Doha time, 15:00 UAE time, 12:00 UK time, and 07:00 NYC time. Registration for the call is required. Ooredoo operates in the Middle East, North Africa, and Southeast Asia, serving consumers and businesses in nine countries. As of December 31, 2023, Ooredoo generated revenues of QAR 23 billion, with shares listed on the Qatar and Abu Dhabi stock exchanges.

Ooredoo Q.P.S.C. has announced that its wholly-owned subsidiary, Ooredoo International Finance Limited (OIFL), will pay interest to holders of its Global Medium Term Notes (GMTN) on 31 July 2024. The payments will be as follows: 1. For the U.S. $500,000,000 Guaranteed Notes at 4.50% due on 31 January 2043, the interest payment will be U.S. $11,250,000.00. 2. For the U.S. $500,000,000 Guaranteed Notes at 3.875% due on 31 January 2028, the interest payment will be U.S. $9,687,500.00. These payments are made in accordance with the Terms and Conditions of the Notes and the Final Terms.

Ooredoo Group has announced a collaboration with NVIDIA to leverage generative AI, accelerated computing, and hyperconnectivity in the MENA region. As part of this initiative, Ooredoo plans to deploy thousands of NVIDIA Tensor Core GPUs in its AI data centers, aiming to drive economic growth, job creation, and technological innovation in countries including Qatar, Algeria, Tunisia, Oman, Kuwait, and the Maldives. By becoming an NVIDIA Cloud Partner, Ooredoo intends to support governments, enterprises, and startups in securely processing data and generating valuable insights. Aziz Aluthman Fakhroo, Group CEO of Ooredoo, highlighted the company's goal to meet the growing demand for advanced AI models and infrastructure in the region.

Ooredoo Oman, a subsidiary of Ooredoo Q.P.S.C., has signed an agreement to land the world's largest subsea cable system, 2Africa, in Barka and Salalah, marking the most extensive subsea cable system landing in Oman. The 2Africa Cable System, which spans 45,000km, will impact over 3 billion people in 33 countries across Africa, Asia, and Europe. The consortium behind 2Africa includes Bayobab, center3, China Mobile International, Meta, Orange, Telecom Egypt, Vodafone Group, and WIOCC, while Alcatel Submarine Networks is responsible for the cable's manufacturing and installation. Ooredoo Oman will develop a new build landing infrastructure for both Barka and Salalah and maintain it in the coming decades.

The text presents the condensed consolidated interim financial information for Ooredoo Q.P.S.C, a company based in Doha, Qatar. The financial data covers the three-month period ending on 31 March 2024.