Posted on April 23, 2020

Vodafone Qatar P.Q.S.C. (“Vodafone Qatar” or the “Company”) today announced its financial results for the three months ended 31 March 2020.

Key Quarter highlights compared to Q1 2019:

  • Service revenue increased by 7.2% year-on-year to QR 508 million
  • Total Revenue increased by 1% year-on-year to QR 541 million
  • EBITDA increased by 11% year-on-year to QR 200 million
  • EBITDA Margin increased by 3.2pp year-on-year to 37%
  • Net Profit increased by 10% year-on-year to QR 48 million

Financial Summary

For the three months ended 31 March 2020, Vodafone Qatar reported Net Profit of QR 48 million representing an increase of 10% year-on-year; the Company’s highest achieved quarterly net profit.

Total revenue increased by 1% year-on-year to reach QR 541 million driven by continued growth in the Company’s Postpaid and Fixed Broadband services (GigaHome).  Service Revenue grew by 7.2% to reach QR 508 million. Vodafone Qatar is now serving 1.73 million mobile customers. EBITDA for the period increased by 11% year-on-year to reach QR 200 million positively impacted by higher service revenue, the continued effectiveness in implementing the Company’s cost optimisation programme, and lower local termination rates. Consequently, EBITDA Margin rose by 3.2 percentage points to 37%.