Vodafone Qatar P.Q.S.C. (“Vodafone Qatar” or the “Company”) announced its consolidated financial results for the six months ended 30 June 2022 with improvement across all key performance indicators.
Key H1 2022 highlights compared to H1 2021
• Total Revenue increased by 23.5% to QR 1.44 billion
• Service Revenue increased by 14.1% to QR 1.23 billion
• EBITDA increased by 25.2% to QR 590 million
• EBITDA margin increased by 0.5 pp to 41.1%
• Net Profit increased by 61.3% to QR 216 million
• Net Profit margin increased by 3.5 pp to 15.1%
• Total mobile customers increased by 17.6% and exceeded 2 million subscribers Financial Summary
The Company reported its half-yearly Net Profit of QR 216 million, representing an
increase of 61.3% year-on-year, mainly driven by higher EBITDA.
Total Revenue increased by 23.5% year-on-year to reach QR 1.44 billion led by growth in the Company’s postpaid, prepaid, fixed broadband services (GigaHome), IoT, managed services and projects revenue. Service Revenue grew by 14.1% to reach QR 1.23 billion.
EBITDA for the period increased by 25.2% year-on-year to QR 590 million led by higher service revenue and the continued effectiveness in implementing the Company’s cost optimisation programme. EBITDA margin further expanded by 0.5 percentage points to reach 41.1%. Vodafone Qatar is now serving more than 2 million mobile customers representing an increase of 17.6% year-on-year.
|In QR million (unless otherwise stated)||Half Year Analysis|
|Six months ended 30 June||YoY Growth (%)|
|Total Mobile Customers (000)||2,015||1,714||17.6%|
|EBITDA Margin (%)||41.1%||40.6%||0.5pp|