Ooredoo Delivers Another Year of Growth with Strategic Milestones and Financial Gains

Ooredoo has announced its financial results for the year ended 31 December 2024.

The FY 2024 Highlights include:

• Revenue increased by 2% to QAR 23.6 billion
• EBITDA up by 3% to QAR 10.0 billion
• EBITDA margin increased by one percentage point (pp) to 42.5%
• Record reported Net profit of QAR 3.4 billion, up by 14%, marking three consecutive years of growth.
• CAPEX spend of QAR 3.2 billion
• Strong normalised Free Cash Flow (FCF) of QAR 6.8 billion, up by 1%
• Customer base of 146.2 million (including IOH and excluding Myanmar)
• Progressed toward becoming the leading digital infrastructure provider in the MENA region
• Board proposed a cash dividend of QAR 0.65 per share, up 18%

2024 was another solid year for Ooredoo Group, which saw growth across revenue, partnerships and delivering value to our stakeholders as we continue to make substantial progress on our strategy. Revenue grew by 2% to QAR 23.6 billion while reported Net Profit increased by a healthy 14% to QAR 3.4 billion.

I am pleased to announce that the Board of Directors will recommend a cash dividend distribution of QAR 0.65 per share, in line with our sustainable and progressive dividend policy, at the Annual General Meeting in March.

– HE Sheikh Faisal Bin Thani Al Thani, Chairman, Ooredoo (Excerpt from the Report)

Ooredoo Group posted another year of strong growth in 2024, marked by sustained operational momentum, a robust and ever-increasing financial position as well as the achievement of key strategic milestones.

Revenue for the year reached QAR 23.6 billion, a rise of 2% compared to last year, underpinned by solid performances in Iraq, Algeria, Kuwait, Tunisia and Maldives. Group profitability remained a central focus, with EBITDA increasing by 3% to QAR 10.0 billion, delivering an EBITDA margin of 42.5%, up by 1pp.

– Aziz Aluthman Fakhroo, CEO, Ooredoo Group (Excerpt from the Report)