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Ooredoo Group is an international communications company operating across the Middle East, North Africa and Southeast Asia. It delivers leading data experience through a broad range of content and services via its advanced, data-centric mobile and fixed networks. The Group has generated revenues of QAR 30 billion as of 30 December 2021. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.
Brand leadership
A testament to the Group’s innovative practices and exceptional performance across management, people and product, Ooredoo Group was identified by the prestigious Brand Finance report and ranked among the top two most powerful brands in Qatar. In 2022 it ranked Top 50 among Brand Finance’ Top Global Telecommunications brands. Its brand value increased 6% y-o-y to USD 3.412 billion from 2021 to 2022.
Asset Optimization Strategy
In 2021, the company moved towards an asset-light financial model, unlocking significant capital and driving the Group towards a renewed focused on delivering value-added digital services to customers. The strategy encompassed:
- Negotiating a successful sale and leaseback agreement with EdgePoint Indonesia for over 4,200 telecommunications towers valued at US$750 million – among the largest of similar deals brokered in Asia;
- Adopting a proactive digital portfolio strategy to drive additional value in the digital space, through partnering with third-party developers across multiple operations to bring the latest solutions to customers;
- Increasing shareholder value through in-market consolidation moves, particularly the successful merger of Indosat Ooredoo with another telecommunications giant in Indonesia, CK Hutchison, to from Indosat Ooredoo Hutchison; thus propelling the new Indonesian entity a stronger and more competitive operator for Indonesia.
Digital Transformation
The Group also embarked on an aggressive digital transformation agenda, having implemented the following initiatives in line with Governments’ 5G mandate:
- Expanded highspeed 5G networks to new markets; Ooredoo today provides commercial 5G services in Qatar, Kuwait, Oman, Maldives and Indonesia, with multiple Ookla Speedtest awards won for the fastest mobile network in-market;
- Forged partnerships with tech giants such as Google Cloud, SAP and Nokia to accelerate digital transformation across consumer and enterprise segments in-market;
- Introducing and/or upgrading the company’s tier 3 carrier grade data centres for business customers to be able to go serverless.
Ooredoo’s reputation as a leading provider of digital communication services has led to its selection as the Official Global Connectivity Services Provider for the 2022 FIFA World Cup, where Ooredoo will provide the network required for the games to be broadcasted globally.
Financial Management
While businesses – particularly does in the technology sector – were impacted by challenging macroeconomic conditions during 2021-2022, Ooredoo prospered in large part due to its robust corporate strategy, product portfolio and prudent financial management.
Solid results were delivered in 2022, with good growth figures recorded:
- Revenue for the nine-month period ended 30 September 2022 stood at QAR 16.9 billion, an increase of 4% compared to the same period in 2021;
- Free cash flow increased 3% to reach QAR 5.3 billion, driven by lower CAPEX;
- Net Profit increased by 33% to reach QAR 2.1 billion for the non-month period ended 30 September 2022;
Nomination Title: Ooredoo Group
