Latest news with #NasserbinHamadbinNasserAlThani
Zawya
26-07-2025
- Business
- Zawya
Ooredoo Kuwait Group reported a strong 6% growth in revenue to reach KWD 367mln in H1 2025
Nasser bin Hamad bin Nasser Al Thani: I have full confidence in our team's ability to capitalize on our strong results and execute our strategic priorities We will continue investing in our network to ensure high-quality service and strengthen customer trust Abdulaziz Yaqoub Al-Babtain: Our strategic partnerships with both public and private sectors played a key role in achieving these outstanding results We remain committed to our approach centered on operational efficiency, digital transformation, and sustainable innovation. Kuwait City, Kuwait: National Mobile Telecommunications Company K.S.C.P 'Ooredoo' (Ticker: OOREDOO) announced today its financial results for the six-month period ended 30 June 2025: Financial Highlights: Year on Year (YoY) – H1 2025 vs H1 2024 Consolidated revenue increased by a healthy 6% to KWD 367 million in H1 2025, compared to KWD 346 million in H1 2024. Revenue growth was supported by the strong operational performance in Algeria, Tunisia and Kuwait. Consolidated customer base increased by 4% to 26.4 million in H1 2025 compared to 25.5 million in H1 2024. EBITDA increased by 19% in H1 2025 to reach KWD 148 million compared to KWD 125 million in H1 2024. Normalizing for the impact of the one-off bad debt provision raised in H1 2024, EBITDA increased by a strong 14% YoY. Net profit attributable to NMTC increased by 65% to reach KWD 42 million in H1 2025 from KWD 25 million in H1 2024. Normalizing for the impact of the one-off bad debt provision raised in H1 2024, Net profit attributable to NMTC increased by a healthy 38% YoY. The consolidated earnings per share were 83 fils in H1 2025, compared to 50 fils earned in H1 2024. Sheikh Nasser Bin Hamad Al Thani, Chairman of the Board of Directors commented: 'NMTC maintained a solid growth trajectory into the first half of 2025 with particularly strong performances in Algeria, Tunisia and Kuwait. For H1 2025 we achieved a strong consolidated revenue growth of 6% YoY to KWD 367 million. Profitability continued to strengthen over the first half of 2025. EBITDA grew by 19% YoY to KWD 148 million with a corresponding EBITDA margin of 40%, while Net profit attributable to NMTC increased by a healthy 65% YoY to KWD 42 million. Normalizing for the impact of the one-off bad debt provision raised in H1 2024, Net profit attributable to NMTC increased by a healthy 38% YoY. Our ongoing investments in network enhancements and customer satisfaction have contributed to the solid performance in H1 2025. The team remains committed to innovation and operational improvements to consistently deliver a high-quality customer experience, resulting in a 4% YoY increase in our customer base to 26.4 million. Looking at the second half of the year, we will continue to invest in our network to provide high-quality connectivity, and to drive customer satisfaction through sales and service excellence. I remain confident in the team's ability to build on this solid performance, execute our strategic priorities, further enhance profitability, and position NMTC on a sustainable path for long-term, profitable growth. Commenting on the financial results for the first half of 2025, Mr. Abdulaziz Yaqoub Al-Babtain, Chief Executive Officer of Ooredoo Kuwait, stated: 'These positive results reflect the effectiveness of our long-term strategy, which focuses on operational efficiency, digital transformation, and sustainable innovation, with the customer experience at the heart of everything we do. The first half of this year marked a qualitative leap on several levels, including infrastructure enhancements, the expansion of strategic partnerships, high levels of customer satisfaction, and a series of prestigious local and international awards.' 'We concluded this period with a major technological milestone, the successful launch of our 5G Advanced network,' Al-Babtain added. 'This was accompanied by a series of innovative promotional campaigns, the first of their kind in the regional telecom sector, reflecting our leadership in delivering next-generation technologies while keeping the customer at the center of our innovation ecosystem.' He also highlighted the vital role of strategic partnerships at the beginning of this year. 'We strengthened our collaboration with global tech leaders in AI, such as NVIDIA, and launched several key initiatives with our success partners across both the private and public sectors. We are confidently progressing toward integrating AI into our services to boost efficiency and improve service quality.' On the value-added front for customers, Al-Babtain noted that Ooredoo Kuwait expanded its partnerships with leading companies in the retail, entertainment, and consumer goods sectors to further develop the flagship loyalty program Nojoom. 'Today, Nojoom is the most widely used and comprehensive program of its kind in Kuwait and the region. We've ensured it reflects modern lifestyles by offering daily rewards and a partnership network that enhances the customer experience and overall quality of life.' He also affirmed that having a balanced and integrated Board of Directors demonstrates the company's continued commitment to driving growth and innovation. 'The diverse expertise of our Board members strengthens our competitive edge, fosters a culture of inclusivity and innovation, and cultivates a workplace environment that supports both professional and personal development, pushing institutional excellence.' Al-Babtain added: 'We believe the steps we've taken toward sustained performance growth are fully aligned with our strategy, which has laid a solid foundation for our ambitious vision. We are pursuing this vision with a pioneering, innovative team, guided by our principles of corporate sustainability and reinforcing our position as a regional leader in digital transformation.' He also expressed pride in Ooredoo's teams across all departments, emphasizing that people are the true driving force behind the company's success. 'Thanks to our teams' dedication and our commitment to nurturing national talent,' he said, 'we've been recognized as one of the most inspiring workplaces and have received eight prestigious Stevie® Awards a testament to our excellence in digital innovation, app development, and digital platforms.' He concluded by reaffirming Ooredoo's commitment to executing its strategic plan, which is built around five core pillars: delivering exceptional customer experience, empowering national human capital, accelerating innovation, enhancing the efficiency of core operations, and placing the customer at the center of every decision. He said: 'Our journey continues and with it, our mission remains clear: We are here to upgrade the world of every customer. We look forward to a smarter, more connected future where we continue making a positive impact on our customers, partners, and community.' Review of Operations The Group's operational performance can be summarised as follows: Ooredoo – Kuwait Ooredoo Kuwait customer base increased by 1.3% to reach 2.9 million customers in H1 2025. The company's revenue increased by 1% to KWD 133 million in H1 2025. Additionally, EBITDA surged by 31% to KWD 45 million in H1 2025, up from KWD 34 million in H1 2024. EBITDA for H1 2024 was impacted by a one-off bad debt provision raised in line with standard company policy. When normalizing for this one-off provision, EBITDA grew by 14% YoY. Ooredoo – Tunisia In H1 2025 Ooredoo, Tunisia's customer base increased by 2%, reaching a total of 7.0 million customers. Revenue increased by 9% to KWD 67 million, compared to KWD 62 million in H1 2024. EBITDA for H1 2025 increased by 12% to KWD 28 million compared to KWD 25 million in H1 2024. Ooredoo – Algeria In H1 of 2025, Ooredoo Algeria's customer base increased by 6%, reaching a total of 14.5 million customers. Revenue for H1 2025 rose by 14% to KWD 129 million, compared to KWD 114 million in H1 2024. EBITDA increased by 21%, reaching KWD 58 million in H1 2025 compared to KWD 47 million in H1 2024. Ooredoo – Palestine In H1 2025, Ooredoo Palestine customer base stood at 1.5 million customers. Revenue decreased in H1 2025 to KWD 16 million and EBITDA decreased to KWD 6 million for the same period. The performance continued to be impacted by the ongoing conflict in Gaza and the West Bank. Ooredoo - Maldives In H1 2025, Ooredoo Maldives' customer base increased by 4% to 418 thousand customers. Revenue for H1 2025 was KWD 22 million, while EBITDA stood at KWD 12 million. For more information, please visit -Ends- For Media Inquiries: Ooredoo (NMTC) Naser AlArfaj , PR & Media PO Box 613, Safat 13007, Kuwait E-mail: nalarfaj@ About Ooredoo Kuwait (NMTC) Commercially launched in December 1999, the Company's share price as of 30 June 2025 was KWD 1.093, giving a market valuation for Ooredoo (NMTC) of KWD 0.5 billion.
Zawya
27-03-2025
- Business
- Zawya
Ooredoo approves record 90-fils per share dividend, the highest in the telecom sector
Kuwait – Ooredoo Kuwait (National Mobile Telecommunications Company – Ooredoo) held its Ordinary and Extraordinary General Assembly meeting on Wednesday, March 26, 2025, at 11:00 AM at its headquarters, with an attendance rate of 93.136% of shareholders. The meeting resulted in the approval of all agenda items, including the following key resolutions: Dividend Distribution and Board Appointments The General Assembly approved a cash dividend distribution of 90% of the nominal share value (equivalent to 90 fils per share), after deducting treasury shares. Shareholders registered in the company's records as of the record date on April 14, 2025, will be entitled to these dividends. Additionally, the General Assembly approved the appointment of Khaled Al-Shatti from PricewaterhouseCoopers (PwC) Al-Shatti & Partners as the external auditor for the financial year 2025, with the Board of Directors authorized to determine his fees. Election of Board Members The following candidates were elected to the Board of Directors: Independent Board Members: OH Investment – Independent Board Member Al-Wakrah East – Independent Board Member Al-Wukair East – Independent Board Member Independent Reserve Members: Al-Tamyiz for Electronic Services Non-Independent Board Members: Ooredoo Global Investments – Board Member Barzan Holding (LLC) – Board Member Al-Dafna Holding (LLC) – Board Member Barzan East – Board Member Non-Independent Reserve Members: Al-Khor Holding Strong Financial Performance and Growth Ooredoo Kuwait announced robust financial results for 2024, achieving: 5% growth in customer base, reaching 26.6 million subscribers 9% increase in annual revenues, reaching KWD 711 million, compared to KWD 653 million in 2023 Chairman's Statement In his speech at the meeting, Sheikh Nasser bin Hamad bin Nasser Al Thani, Chairman of the Board, stated: "Over the past year, Ooredoo Group remained committed to achieving its strategic goals of building a sustainable digital telecommunications company. Our focus has been on innovation in digital services, enhancing operational efficiency, and leveraging our expertise to serve society and maximize shareholder value." He added: "We are proud of Ooredoo Kuwait's success in 2024, as we continued to achieve strong growth across our operations in Kuwait, Tunisia, Algeria, and the Maldives. Our investments in technology and digital infrastructure have enabled us to offer pioneering services that meet our customers' needs and enrich their digital experiences." Sheikh Nasser reaffirmed the company's commitment to enhancing operational efficiency and achieving sustainable growth, with a strong focus on customer experience and innovation. CEO's Statement Abdulaziz Al-Babtain, CEO of Ooredoo Kuwait, commented: "Our success reflects our continuous efforts to develop and upgrade our services in line with the latest technological advancements. We are committed to delivering an exceptional customer experience that exceeds expectations, which has strengthened customer loyalty and trust in our brand." He further noted: "The telecommunications market is becoming increasingly competitive, which is why we continue to invest in innovation and technology. Our strategy focuses on creating long-term value for our shareholders while collaborating with regulatory bodies to serve the best interests of the company, customers, and investors alike." Customer Experience Innovation Ooredoo Kuwait has placed customer experience at the heart of its strategy. In 2024, the company introduced AI-powered solutions, expanded digital services, and enhanced customer engagement channels, leading to record levels of customer satisfaction and loyalty. Sustainability and Corporate Responsibility Sustainability remains a core pillar of Ooredoo Kuwait's strategy. In 2024, the company strengthened its commitment to Environmental, Social, and Governance (ESG) principles by: Reducing carbon footprint Enhancing energy efficiency Promoting digital inclusion These initiatives underscore Ooredoo Kuwait's dedication to responsible and sustainable growth, reinforcing its position as a leading provider of comprehensive digital solutions. A Promising Future Vision As part of its expansion strategy, Ooredoo Kuwait is executing new projects that will accelerate digital transformation in Kuwait, aligning with the New Kuwait Vision 2035. Sheikh Nasser bin Hamad Al Thani concluded: "We look forward to a bright future, where we continue to create sustainable value for our shareholders, invest in cutting-edge networks, and drive innovation. Our goal is to be Kuwait's most trusted digital partner, contributing to the country's economic growth, digital evolution, and technological advancement."
