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Wataniya Telecom posts KD 182.7m Q1 revenue Group’s total customer base rises 5% to 20.4 million

KUWAIT CITY, April 22: Wataniya Telecom (National Mobile Telecommunications Company KSC - Ticker: NMTC) today announced its financial results for the first quarter2014:
Operational Highlights:
* Total customer base increased to 20.4 million at the close of Q12014, versus 19.5 million at the same period in 2013, amounting to growth of 5.0%.
* Revenues for Q12014 amounted to KD 182.7 million ($648.8million), compared with KD 181.3million ($643.9million) for the same period in 2013, equal to growth of 0.8%.
* EBITDA for Q12014 was KD 66.8 million ($237.2million), compared to EBITDA of KD 70.8 million ($251.3 million) for the same period in 2013.
* The consolidated Net Profit for Q1 2014 was at KD 24.3 million ($86.5million), compared to Net Profit for the same period in 2013 of KD 22.6 million ($80.2 million).The net attributable profit to Wataniya Telecom in Q1 2014 was KD 19.8 million ($70.4 million) compared with net attributable profit of KD 19.5 million ($69.2 million) for the same period of 2013.
* The consolidated Earnings per Share was40fils ($14 cents), compared to39fils ($14 cents) per share earned for the same period last year.
* Post period: Vikram Sinha has been appointed as CEO of Ooredoo Maldives. He has joined on Sunday April 20. He replaces Haroon Hameed, who is taking up another leading role within the Ooredoo Group in Ooredoo Myanmar


HE Sheikh Abdullah Bin Mohammed Bin Saud Al Thani, Chairman of Wataniya Telecom commented:
“The first quarter generated not only a broadly positive start to the year for Wataniya Telecom but also provided further evidence of the success of our strategic initiatives across its businesses.  Ooredoo Algeria continues to capture market share, driving revenue and profit growth.  Despite the continued challenging market conditions of Tunisia, Ooredoo Tunisiana has delivered solid quarterly performance.  Wataniya Kuwait is delivering against its recovery strategy, capturing back market share as the business targets a return to revenue growth having invested in developing the country’s leading broadband network.  Our markets continue to be highly competitive but we are making good progress in executing our long-term growth strategy.”


Review of Operations
The Group’s operational performance can be summarized as follows:
Wataniya - Kuwait
Wataniya Kuwait’s customer base was2.22 million customers at the end of Q1 2014, an increase of 12.1% on the same period in 2013. Revenues for Q12014were KD 41.8million ($148.4 million), a decrease of 20.2% compared to2013of KD 52.3 million ($185.8 million). EBITDA was KD 9.6 million ($34.2million) versus EBITDA for Q1 2013ofKD 16.6 million ($59.0 million), a decrease by42.0%. Net Profit was at KD 2.9 million ($10.1 million), compared to Net Profit for the same period in 2013 of KD 9.5 million ($33.7 million).

Tunisiana - Tunisia
The Tunisiana customer base at the end Q12014 stood at 7.39 million customers, an increase of 2.0% compared to 2013. Revenues for Q12014 were KD 45.4 million ($161.3 million), compared to revenues for the same period in 2013 of KD 47.6 million ($169.1million). EBITDA was KD 22.4 million ($79.5 million) compared to KD 24.0 million ($85.3 million) for the same period last year representing a decrease of 6.8%. The total Net Profit stood at KD 7.7 million ($27.3 million) an increase of 51.8% when compared with KD 5.1million ($18.0 million) for the same period in 2013. The Net Attributable Profit to Wataniya Telecom for Q12014 was KD 5.8 million ($20.5 million), compared to KD 3.8 million ($13.5 million) for the same period in 2013.

Ooredoo - Algeria
Ooredoo’s customer base in Algeria at the end of Q1 2014 was 9.93million customers, an increase of 7.4% compared to the same period last year. Revenues for Q12014 were KD 85.5million ($303.6 million), an increase of 18.9% compared with revenues of KD 71.9 million ($255.4 million) for the same period in 2013. EBITDA for Q12014 was KD 33.1 million ($117.4 million), an increase of 14.7% on KD 28.8 million ($102.4million) for the same period in 2013. The total Net Profit for the first quarter of 2014 was KD 12.1 million ($42.8 million) compared to a total Net Profit of KD 10.5 million ($37.1 million) for the same period in 2013. The Net Attributable Profit to Wataniya Telecom for Q1 2014 was KD 8.6 million ($30.4 million) compared to a Net Attributable Profit of KD 7.4 million ($26.4 million) for the same period in 2013.

Wataniya - Palestine
The total customer base for Wataniya Mobile Palestine at the end of Q1 2014was 0.65 million, an increase of 4.7% from the same period of 2013. Revenues for Q12014were KD 6.0 million ($21.3million), an increase of 4.2% compared to the revenues of KD 5.8 million ($20.5million) in Q12013. EBITDA for Q1 2014 was KD 0.8 million ($2.9 million) compared to an EBITDA of KD 0.3 million ($1.2 million) for the same period in 2013. The total Net Loss for Q12014 was KD 1.2 million ($4.4 million) compared to a total Net Loss of KD 1.8 million ($6.3 million) for the same period in 2013. The Net Attributable Loss for the first quarter of 2014 was KD 0.6 million ($2.1 million) compared to a Net Attributable Loss of KD 0.9 million ($3.1 million) for the same period in 2013.


Ooredoo - Maldives
Ooredoo’s total customer base at end of Q1 2014 was 0.26million, an increase of 37.4% from the same period of 2013. Revenues for Q1 2014 were KD 3.9 million ($13.7 million) compared to KD 3.3million ($11.8 million) for the same period 2013. EBITDA for the first quarter of 2014 was KD 1.3 million ($4.6 million) compared to an EBITDA of KD 1.1 million ($3.9 million) for the same period in 2013. The Net Attributable Profit for 2014 was KD 0.2 million ($0.6 million) compared to the Net Attributable Loss of KD 0.2 million ($0.7 million) for the same period in 2013.  The KD to USD conversion rate used is 0.28158 as of Marc 3, 2014. For more information please visit www.wataniya.com

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