Ibrahim Abdulla Al-Mahmoud Elected to Fill the Vacant Position of Board Member for Ooredoo
The Annual General Meeting of Ooredoo QSC today approved the recommendation of the Board of Directors to distribute a cash dividend of 40 percent of the nominal share value (QR 4 per share).
In addition, shareholders elected Ibrahim Abdulla Al-Mahmoud to fill the vacant position on the company’s Board of Directors.
The AGM also provided an opportunity for shareholders to review the significant progress made by Ooredoo in 2013, and receive an overview of the company’s plans for the future.
In his address, H.E. Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman, Ooredoo, highlighted some of the achievements of the last financial year, including the global launch of the Ooredoo brand, and subsequent national launches in markets like Qatar, Algeria and the Maldives. In addition, he discussed the company’s success in winning a commercial licence for Ooredoo’s newest market, Myanmar, and the company’s progress in rolling out 4G and fibre services in several key markets.
In addition, Ooredoo companies launched 3G services in Tunisia and Algeria during 2013.
H.E. Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman, Ooredoo, said: “Transforming our company into Ooredoo was always about much more than simply changing our name. The transformation process was about taking our company to the next level – bringing our strategy to life with a new, dynamic brand and leveraging our combined resources to transform our customer offering.”
“Over the course of the last year, we have evolved our products and services, enhanced our networks, and launched a series of key initiatives to support our customers, as well as beginning our work in Myanmar – 2013 was a very successful year,” he added.
Ooredoo has continued to be one of the fastest-growing communications companies in the world, thanks to diversification and in particular due to a strong focus on data services across its footprint.
Ooredoo’s consolidated revenue increased by 1 percent to QR 33.9 billion [FY2012: QR 33.5 billion], while net profit attributable to Ooredoo shareholders went down by 12.5 percent to QR 2.6 billion [FY 2012: QR 2.9 billion].
Normalised FY2013 net profit attributable to Ooredoo shareholders (excluding currency loss, one-off tower sale gain in Indosat and start-up cost in Myanmar) stood at QR 3,342 million, a 16 percent increase over FY2012.
The company now has 95.9 million customers across its regional footprint.
In its home market of Qatar, Ooredoo saw healthy revenue growth, expanding its total number of customers by 13 percent to 2.9 million, with particularly strong growth in mobile broadband, entertainment services and through its Ooredoo Fibre programme, which passed more than 245,000 homes by the end of 2013.
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About Ooredoo
Ooredoo is a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and South-East Asia. As a community-focused company, Ooredoo is guided by its vision of enriching people’s lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential. Ooredoo has a presence in markets such as Qatar, Kuwait, Oman, Algeria, Tunisia, Iraq, Palestine, the Maldives and Indonesia.
The company reported revenues of $ 9.3 billion U.S. dollars in 2013 and had a consolidated global customer base of more than 95.9 million people as of 31 December 2013. Ooredoo’s shares are listed on the Qatar Exchange and the Abu Dhabi Securities Exchange.
