Latest news with #Syntys
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.
Yahoo
06-05-2025
- Business
- Yahoo
Ooredoo QPSC (DSMD:ORDS) Q1 2025 Earnings Call Highlights: Strong Revenue and Profit Growth ...
Total Revenue: QAR5.8 billion, a 3% increase excluding Myanmar exit impact. EBITDA: QAR2.5 billion, a 2% increase excluding Myanmar exit impact; EBITDA margin at 43%. Net Profit: Increased by 5% to just under QAR1 billion. CapEx: QAR538 million, a 41% increase driven by investments in Iraq, Oman, Kuwait, Algeria, and Tunisia. Free Cash Flow: QAR2 billion, an 8% decrease due to accelerated CapEx spend. Customer Base: Increased by 5% to 52 million, excluding Myanmar exit. Data Center Revenue: QAR35.2 million with EBITDA at QAR13.4 million. Fintech Revenue: Over QAR22 million, driven by international remittances. Qatar EBITDA Margin: Improved by 1 percentage point to 53%. Kuwait EBITDA Growth: Increased by 51%, with a margin of 34%. Oman EBITDA Margin: Solid at 44% despite a 7% reduction in EBITDA. Algeria Revenue and EBITDA Growth: Both increased by 12%, with an EBITDA margin of 42%. Tunisia Revenue Growth: Increased by 4% in local currency; EBITDA margin at 39%. Maldives EBITDA Margin: Improved by 1 percentage point to 55%. Palestine Customer Base Growth: Increased by 6% to 1.5 million customers. Release Date: May 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Ooredoo QPSC (DSMD:ORDS) reported a 3% increase in revenue and a 2% growth in EBITDA, excluding the impact of the Myanmar exit. The company maintained a strong EBITDA margin of 43% and achieved a 5% increase in net profit. Ooredoo's data center business, rebranded as Syntys, is well-positioned for regional digital transformation, with 13 active data centers and plans for expansion. The fintech vertical generated over QAR22 million in revenue, driven by international remittances, and holds a 20% market share in Qatar. Ooredoo maintains a healthy balance sheet with a low leverage ratio of 0.6 times and strong liquidity of around QAR5.5 billion. Negative Points Revenue in Qatar decreased by 4% due to lower device sales, the impact of the data center carve-out, and non-recurring revenue from the AFC tournament. Ooredoo Oman faced a 3% revenue decline due to high competition, leading to a 7% reduction in EBITDA. The Maldives operation experienced a 1% revenue decrease due to competitive pressures in the prepaid market. Free cash flow decreased by 8% due to accelerated CapEx spending on strategic projects. The customer base in Qatar decreased by 3%, impacted by the inclusion of AFC-related connections in the previous year. Q & A Highlights Q: In some markets, margins have been volatile, particularly in Iraq and Kuwait. Can you explain the reasons behind this and provide insights into the expected margin trends? A: Aziz Fakhroo, Group CEO, explained that Q4 typically experiences seasonality, and in Iraq, additional operational expenses were incurred due to increased network traffic and preparations for a potential third operator's 5G launch. Abdulla Al-Zaman, Group CFO, noted that Kuwait's margins were affected by a one-off bad debt provision in 2024, but overall, Kuwait's performance remains solid.
Zawya
11-03-2025
- Business
- Zawya
Syntys enters MENA Market, poised to lead digital infrastructure growth
Strategic positioning to support the growing demand for Cloud and AI deployments in MENA $1 billion investment planned to scale data center capacity beyond 120 megawatts DOHA: The Middle East and North Africa (MENA) region's rapidly evolving digital transformation market has a new infrastructure player: Syntys. Spun off from Ooredoo, Syntys establishes itself as a standalone entity specialized in the design, construction and management of data centers, launching with a robust portfolio of operational facilities and ambitious expansion plans across the region. Sunita Bottse (left), Chief Executive Officer, and Saad Sabah Al-Kuwari (right), Chief Commercial Officer, driving Syntys forward as a trusted partner for hyperscalers, enterprises, and AI-driven businesses. This strategic move positions Syntys to capitalize on surging demand for data storage, digital services and processing in the MENA region, driven by the rapid growth of Cloud Computing, Artificial Intelligence and a booming digital economy. The Gulf Cooperation Council (GCC) data center market is expected to reach $7.23 billion in investments by 2029, growing at a CAGR of 10.14 percent from $4.05 billion in 2023, according to Syntys addresses the region's accelerating demand for digital infrastructure solutions by empowering businesses with seamless connectivity, optimized performance and industry-leading services. The company's existing substantial network of data center assets, strategically located across five markets, provides a significant competitive advantage. Carved out from Ooredoo (an international telecom and communications company), Syntys, formerly known as Mena Digital Hub, establishes itself as a trusted partner for hyperscalers, AI-driven businesses and colocation wholesalers. Having already received $552 million in funding from major Qatari banks last year, Syntys has the ambition to scale its data center capacity to more than 120 megawatts with initial capital of $1 billion, supporting both existing tenants and new clients from industries increasingly reliant on scalable and efficient IT infrastructure across the region. Syntys' established infrastructure and secured capital, combined with expertise in navigating local regulatory environments and securing essential resources like power and fiber optic connectivity, allow the digital infrastructure partner to quickly scale its operations. Its facilities are designed for reliability and efficiency, capable of handling diverse workloads ranging from general-purpose computing to advanced AI clusters. At the helm of Syntys is Sunita Bottse who brings a strong track record in managing advanced Tier IV data centers and is backed by senior positions at Microsoft and SUPERNAP. 'The launch of Syntys is key to driving the future growth of the MENA region, allowing it to harness the rising demand for digital services and accelerate technological innovation across critical industries,' said Sunita Bottse. 'As a trusted digital infrastructure partner, we empower both the private and public sectors with the essential resources needed to foster long-term digital transformation and sustained business success in today's technology landscape.' Syntys' facilities are tailored to meet a variety of client needs. Hyperscalers such as Microsoft and Google benefit from Syntys' build-to-suit and suite solutions designed to align with their specific operational requirements, while AI-focused businesses are supported with tailored infrastructure solutions optimized for high-performance workloads and advanced cooling solutions, ensuring seamless and efficient processing capabilities. As governments in MENA increasingly prioritize localized Cloud Services and data sovereignty to strengthen digital infrastructure and support economic diversification, the demand for secure, scalable and compliant IT solutions continues to rise. The digital infrastructure provider also partnered with Iron Mountain, a global company that provides information management and storage services. This partnership allows Syntys to leverage Iron Mountain's deep expertise in hyperscaler data centers to enhance MENA's capabilities as a digital hub and drive the growth of AI-enabled data centers in the region. "Our data centers are designed to address the industry's evolving needs, ensuring that our clients benefit from maximum flexibility while adhering to the highest standards of security and reliability. By aligning with regional initiatives, Syntys is positioned as a key enabler of digital transformation across the region,' said Saad Sabah Al-Kuwari, Chief Commercial Officer of Syntys. Syntys' launch ushers in a new era for digital infrastructure in the MENA. By leveraging Ooredoo's and Iron Mountain's legacy and the deep expertise of its leadership team, Syntys is well-positioned to drive the region's digital expansion. With a strong commitment to scalability, reliability and sustainability, Syntys plays a vital role in supporting economic and technological advancement through cutting-edge infrastructure solutions About Syntys: Syntys is a leader in physical and digital infrastructure services, specializing in the design, construction, and management of data centers. With a network of operational facilities across various markets in the MENA region, Syntys serves hyperscalers, colocation wholesale providers, and AI infrastructure deployments, enabling seamless digital growth in the region.
