13-11-2007

Qtel and its Subsidiaries (“the Group”) announced its third quarter financial results for the nine months ending 30 September 2007.
 
“Qtel Group has posted an excellent revenue growth, a strong EBITDA and net profit during the first nine months of the year. The Qtel Group has successfully grown its total mobile subscriber base from 1.3 million in September 2006 to 14.2 million in September 2007,” said Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman, Qtel.
 
In the nine months to 30 September 2007, the Group revenues grew by 123.9% to QR 6,903 m (2006 – QR 3,083 m) and EBITDA grew by 82.5% to QR 3,486 m (2006 – QR 1,910 m). The consolidated net profit reached QR 1,543 m (2006 – QR 1,252 m), representing a growth of 23.2%. Net profit attributable to Qtel’s shareholders was QR 1,308 m (2006 – QR 1,295 m).
 
During the third quarter, Qtel became a substantial shareholder in the Asiacell consortium which recently won a 15-year license in Iraq (Mobile penetration: 37%). Asiacell Communications LLC (ACL), the operating company of the Asiacell consortium, has a total mobile subscriber base of 3.9 million. Qtel has an effective shareholding in ACL of 30%.
 
The first nine months of 2007 of Qtel Group was marked by partnerships and acquisitions in the MENA and Asia region, which has seen the organisation expanding to cover 557 million people in the region. A balanced M&A strategy and smooth post-merger synergies have set Qtel well on the way to become one of the top 20 world telecom operators by 2020.
 
Qtel’s business in Qatar continues to show good results with a revenue growth of 17.6% from QR 2,761 m in the first nine months of 2006 to QR 3,246 m in 2007. The mobile customer base stood at 1.1 million in September 2007 (2006: 0.9 million) representing more than 100% penetration in Qatar.
 
Nawras achieved a customer base of 897,000 as of 30 September 2007, representing a 40% market share translating into revenues of QR 610 m (2006 – QR 322 m), an increase of 89.4% over the same period last year.
 
Wataniya group’s total customer base at 30 September 2007 was 8.2 million (proportionate customer base – 5.4 million), representing revenues of QR 3,775 m for the first nine months of 2007. The post acquisition revenues of Wataniya group up to September 2007, included in Qtel Group, stood at QR 2,835 m.
 
With the opening up of Telecom markets in Qatar, Qtel has put in place plans to meet the challenges of competition, enhance customer care as well as provide innovative products and services.  Qtel has gradually positioned itself as a Business Solution Provider, from being a basic telecoms service provider into one that offers more complex and sophisticated ICT solutions.
 
“Qtel is well positioned to face the competition and will continue to strive to meet and exceed the expectations of its stakeholders. The investments made by Qtel, in and outside Qatar, will also ensure that the growth of shareholder value continues in the long run,” said Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman, Qtel.