Latest news with #AzizAluthmanFakhroo
Qatar Tribune
30-07-2025
- Business
- Qatar Tribune
Ooredoo net profit up 4% to QR1.9 bn in first half of 2025
Tribune News Network Doha Ooredoo on Wednesday announced its financial results for the six-month period ended June 30, 2025, reporting another strong performance built on operational resilience and strategic investments. Group revenue for the first half of 2025 reached QR11.9 billion, representing a 1 percent increase on a reported basis and a 4 percent rise when excluding the impact of the Myanmar exit. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at QR5.1 billion, up by 1 percent, or 3 percent excluding Myanmar, with a stable EBITDA margin of 43 percent. Net profit increased by 4 percent year-on-year to QR1.9 billion, reflecting the strength of core operations and disciplined execution. Capital expenditure during the period rose significantly to QR1.5 billion, driven by strategic investments across key markets, while free cash flow stood at QR3.6 billion, representing an 11 percent decline due to accelerated network rollouts. The Group's customer base grew to 51.9 million, and including IOH, total customers reached 147.2 million. Commenting on the results, Ooredoo Chairman Sheikh Faisal Bin Thani Al Thani said the company had delivered solid results across key financial metrics, underpinned by a clear business strategy, strong infrastructure, and ongoing strategic investments. He emphasised Ooredoo's commitment to becoming the leading digital infrastructure provider in the MENA region, focusing on sustainable value creation for stakeholders. Ooredoo Group CEO Aziz Aluthman Fakhroo highlighted that solid performances in Kuwait, Algeria, Iraq, Tunisia and the Maldives were key growth drivers during the period. He noted that the Group had made significant progress across strategic initiatives, including the launch of its independent carrier-neutral data centre platform, Syntys, and a partnership with Iron Mountain to enhance scalability. Ooredoo also advanced its fintech operations, particularly in Oman, and expanded its data centre capabilities in Qatar with the deployment of NVIDIA's latest GPUs, marking a first for the country. Ooredoo's strategy continues to be anchored by five pillars: delivering exceptional customer experience, empowering talent, driving smart telco innovation, strengthening core operations, and maintaining a disciplined, value-focused portfolio. The Group is investing across five verticals – telecom operations, towers, data centres, subsea cables and fibre, and fintech – to build a future-proof digital infrastructure business. The TowerCo project, a partnership with Zain Group and TASC Towers Holding, is moving toward establishing the region's largest independent tower company with around 30,000 towers across six MENA markets. Meanwhile, Syntys is rapidly expanding its AI-ready, hyperscale data centres, supported by Iron Mountain's minority equity investment. The launch of sovereign AI cloud services in Qatar has further strengthened Ooredoo's leadership in digital transformation. In fintech, Ooredoo Financial Technology International (OFTI) continued to expand mobile-led financial services in Qatar, Oman and the Maldives, processing over USD 6 billion in transactions and securing a significant share in the international remittances market. Expansion into Tunisia, Iraq and Kuwait is progressing, supported by regulatory approvals and strategic partnerships with global leaders such as Visa, PayPal, Western Union and MoneyGram. The Group also advanced its subsea cable infrastructure with the FIG project, connecting key GCC markets and enabling high-capacity, low-latency data transmission between the GCC and Europe. This positions Ooredoo as a regional enabler of global connectivity and a leader in cloud, AI, and data services. From a financial perspective, Ooredoo maintained a healthy balance sheet with a net-debt-to-EBITDA ratio of 0.7x, well below the Board's guidance. The Group's liquidity position remains strong, supported by QAR 14.8 billion in cash reserves and QAR 5.5 billion in available facilities. At the operational level, Ooredoo Qatar continued to deliver premium market positioning with stable revenue growth and a strong EBITDA margin of 52 percent. Ooredoo Kuwait reported a significant 31 percent increase in EBITDA, driven by higher service revenue and disciplined cost management. In Iraq, Asiacell posted an 8 percent revenue increase with customer numbers rising to 19.4 million, while Ooredoo Algeria recorded double-digit revenue growth of 14 percent. In contrast, Ooredoo Oman faced competitive pressures that impacted profitability, and Ooredoo Palestine continued to operate under difficult political and economic conditions. Looking ahead, Ooredoo reaffirmed its full-year 2025 guidance, with revenue expected to grow between 2 to 3 percent, EBITDA margin to remain in the low 40 percent range, and capital expenditure projected between QR4.5 billion and QR5 billion. With a balanced portfolio, disciplined financial management, and a clear strategic direction, Ooredoo remains well positioned to drive digital transformation across the MENA region, unlocking long-term value for its shareholders, customers, and communities.
ILoveQatar.net
19-06-2025
- Business
- ILoveQatar.net
12 Qatari firms named among Forbes Middle East's Top 100 Listed Companies 2025
Forbes Middle East release the list of Top 100 Listed Companies 2025 which featured 12 Qatari firms. The Qatari firms listed included the following: QNB Group (#3) Qatar Islamic Bank (QIB) (#32) Sector: Banks & Financial Services Group CEO: Bassel Gamal Market Value: $13.3 billion Ooredoo Group (#33) Sector: Telecommunications Group CEO: Aziz Aluthman Fakhroo Market Value: $11.3 billion Industries Qatar (IQ) (#37) Sector: Industrials Chairman & Managing Director: Saad Sherida Al-Kaabi Market Value: $20.2 billion Commercial Bank (#47) Sector: Banks & Financial Services Group CEO: Joseph Abraham Market Value: $4.6 billion AlRayan Bank (#50) Sector: Banks & Financial Services Group CEO: Fahad Al Khalifa Market Value: $5.6 billion Dukhan Bank (#62) Sector: Banks & Financial Services Acting Group CEO: Ahmed Hashem Market Value: $5 billion Nakilat (#72) Sector: Logistics CEO: Abdullah Al-Sulaiti Market Value: $7 billion Qatar International Islamic Bank (QIIB) (#76) Sector: Banks & Financial Services CEO: Abdulbasit Al Shaibei Market Value: $4.4 billion Qatar Fuel (WOQOD) (#79) Doha Bank (#87) Ahlibank (#100) Saudi's energy company Saudi Aramco ranked at number 1 of the list. The companies are ranked based on data collected from the Arab stock exchanges and their reported sales, assets, and profits for the financial year of 2024 and market value as of April 25, 2025.
Yahoo
21-05-2025
- Business
- Yahoo
Ooredoo Group CEO on 'Overwhelming' Data Center Demand
The Group CEO of Ooredoo says demand for data centers is 'overwhelming' and the Qatari telecom operator can't build them as quickly as they should. Aziz Aluthman Fakhroo spoke to Bloomberg's Francine Lacqua at the annual Qatar Economic Forum in Doha about investment, growth opportunities and M&A. Sign in to access your portfolio
Bloomberg
20-05-2025
- Business
- Bloomberg
Ooredoo Group CEO on 'Overwhelming' Data Center Demand
The Group CEO of Ooredoo says demand for data centers is 'overwhelming' and the Qatari telecom operator can't build them as quickly as they should. Aziz Aluthman Fakhroo spoke to Bloomberg's Francine Lacqua at the annual Qatar Economic Forum in Doha about investment, growth opportunities and M&A. (Source: Bloomberg)
Zawya
02-05-2025
- Business
- Zawya
Qatar: Ooredoo's profits up 5% in Q1-25
Qatar - National Mobile Telecommunications Company (Ooredoo) achieved profits attributable to the owners amounting to QAR 960 million in the first quarter (Q1) of 2025, up 5% from QAR 913 million in Q1-24. Total revenues stood at QAR 5.85 billion as of 31 March 2025, compared to QAR 5.86 billion, according to the financial results. Earnings per share (EPS) went up year-on-year (YoY) to QAR 0.30 in Q1-25 from QAR 0.29. The group reported total assets amounting to QAR 61.13 billion at the end of March 2025, versus QAR 60.94 billion as of 31 December 2024. Aziz Aluthman Fakhroo, CEO of Ooredoo, said: 'Ooredoo Group began the year on a strong note underpinned by sustained operational momentum across our markets with a focus on efficiencies and execution of key strategic initiatives.' Fakhroo added: 'Excluding the impact of the Myanmar exit, Revenue increased by 3% YoY to QAR 5.80 billion and EBITDA grew by 2% to QAR 2.50 billion. EBITDA margin was maintained at 43%. The group's performance during the quarter was bolstered by strong growth in Kuwait, Algeria, and Iraq.' Source: Mubasher
