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Wataniya Telecom (Ooredoo) posts KD 196.7m revenue Total customer base increases to 21.6 mln in first half

 KUWAIT CITY, July 24: Wataniya Telecom (Ooredoo) today announced its financial results for the first Half 2014:

Operational Highlights:
 
* Total customer base increased to 21.6 million at the close of H1 2014, versus 19.6 million at the same period in 2013, amounting to growth of 10.2%.
 
* Revenues for H1 2014 amounted to KD379.4 million ($1,346.8 million), compared with KD370.1 million ($1,313.8 million) for the same period in 2013, equal to growth of 2.5%.
 
*EBITDA for H12014 was KD138.0 million ($490.0 million), compared to EBITDA of KD147.2 million ($522.5 million) for the same period in 2013.
 
*The consolidated Net Profit for H1 2014 was at KD48.4 million ($171.8 million), compared to Net Profit for the same period in 2013 of KD52.2 million ($185.3 million).The net attributable profit to Ooredoo in H1 2014 was KD37.9 million ($134.4 million) compared with a net attributable profit of KD42.4 million ($150.5 million) for the same period of 2013.
 
* The consolidated Earnings per Share was 76 fils ($27 cents), compared to 85 fils ($30 cents) per share earned for the same period last year.
 
H.E. Sheikh Abdullah Bin Mohammed Bin Saud Al Thani, Chairman of Ooredoo commented: 
“The first Half generated not only a broadly positive start to the year for Ooredoo 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 half year performance.  Wataniya Telecom (Ooredoo) 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 Telecom (Ooredoo) - Kuwait
Wataniya Telecom (Ooredoo) Kuwait’s customer base was 2.33 million customers at the end of H1 2014, an increase of 19.9% on the same period in 2013. Revenues for H1 2014 were KD84.5 million ($300.1 million), a decrease of 19.1% compared to 2013 of KD104.6 million ($371.1 million). EBITDA was KD18.2 million ($64.5 million) versus EBITDA for H1 2013 of KD32.1 million ($113.9 million), a decrease by 43.4%. Net Profit was at KD4.6 million ($16.4 million), compared to Net Profit for the same period in 2013 of KD13.5 million ($47.9 million). 

Ooredoo - Tunisia
The Ooredoo customer base at the end H1 2014 stood at 7.37 million customers, an increase of 1.0% compared  to 2013. Revenues for H1 2014 were KD92.7 million ($329.1 million), compared to revenues for the same period in 2013 of KD97.9 million ($347.5 million). EBITDA was KD43.5 million ($154.6 million) compared to KD51.0 million ($181.0 million) for the same period last year representing a decrease of 14.6%. The - Net Profit stood at KD14.2 million ($50.4 million) a decrease of 17.6% when compared with KD17.2 million ($61.1 million) for the same period in 2013. The Net Attributable Profit to Ooredoo for H1 2014 was KD10.6 million ($37.8 million), compared to KD12.9 million ($45.9 million) for the same period in 2013. 

Ooredoo - Algeria
Ooredoo’s customer base in Algeria at the end of H1 2014 was 10.93 million customers, an increase of 17.2% compared to the same period last year. Revenues for H1 2014 were KD182.6 million ($648.1 million), an increase of 22.8% compared with revenues of KD148.7 million ($527.9 million) for the same period in 2013. EBITDA for H1 2014 was KD73.2 million ($260.0 million), an increase of 17.7% on KD62.2 million ($220.9 million) for the same period in 2013. The total Net Profit for the first Half of 2014 was KD29.5 million ($104.7 million) compared to a total Net Profit of KD26.7 million ($94.7 million) for the same period in 2013. The Net Attributable Profit to Ooredoo for H1 2014 was KD20.9 million ($74.4 million) compared to a Net Attributable Profit of KD18.9 million ($67.2 million) for the same period in 2013.

Wataniya - Palestine
The total customer base for Wataniya Mobile Palestine at the end of H1 2014 was 0.68 million, an increase of 8.3% from the same period of 2013. Revenues for H1 2014 were KD12.1 million ($42.8 million), a decrease of 4.1% compared to the revenues of KD12.6 million ($44.6 million) in H1 2013. EBITDA for H1 2014 was KD1.8 million ($6.3 million) compared to an EBITDA of KD1.0 million ($3.5 million) for the same period in 2013. The total Net Loss for H1 2014 was KD2.3 million ($8.2 million) compared to a total Net Loss of KD3.3 million ($11.7 million) for the same period in 2013. The Net Attributable Loss for the first Half of 2014 was KD1.1 million ($4.0 million) compared to a Net Attributable Loss of KD1.6 million ($5.7 million) for the same period in 2013
 
Ooredoo - Maldives
Ooredoo’s total customer base at end of H1 2014 was 0.27 million, an increase of 22.5% from the same period of 2013. Revenues for H1 2014 were KD7.5 million ($26.7 million) compared to KD6.4 million ($22.7 million) for the same period 2013. EBITDA for the first Half of 2014 was KD2.4 million ($8.5 million) compared to an EBITDA of KD1.8 million ($6.3 million) for the same period in 2013. The Net Attributable Profit for 2014 was KD0.1 million ($0.5 million) compared to the Net Attributable Loss of KD0.8 million ($2.8 million) for the same period in 2013.
The KDto $conversion rate used is 0.28173 as of 30 June 2014.
For more information please visit www.ooredoo.com.kw

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