Ooredoo 9M revenue rises 4.3% to QR19bn

By the Editorial Team · Thursday, October 29, 2026

Ooredoo Group posted a 4.3% increase in revenue to QR19 billion for the first nine months of 2026, driven by strong performance in key markets including Algeria, Tunisia, Qatar, and Iraq, while EBITDA rose 6.3% despite a 5.0% decline in net profit due to one-off legal costs and higher depreciation. The company’s expanding customer base of 55.1 million, improved operational efficiencies, and solid free cash flow position it well for continued growth in connectivity, digital infrastructure, and fintech sectors.

Ooredoo Group reported a 4.3% increase in revenue for the first nine months of 2026, reaching QR19 billion, driven primarily by strong performances in Algeria, Tunisia, Qatar, and Iraq, as well as growth in most of its other markets. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 6.3% year-on-year to QR8.5 billion, outpacing revenue growth. The reported EBITDA included one-off gains related to the divestment of PT Infra Fibre by Ooredoo International Holdings (IOH) in the second quarter and the deconsolidation of Ensign by StarHub in the third quarter. After adjusting for these items, normalised EBITDA increased 4.2% to QR8.3 billion, with the EBITDA margin improving by 0.9 percentage points to 44.7%. The normalised EBITDA margin remained largely stable at 43.8%, supported by operating leverage, cost efficiencies, and a more favourable revenue mix in selected markets, including reduced device sales.

Net profit attributable to Ooredoo shareholders declined 5.0% year-on-year to QR2.9 billion, compared with QR3.1 billion in the same period last year. This decrease was primarily due to a QR208 million one-off legal provision recorded in Algeria in the second quarter, as well as higher depreciation and amortisation expenses linked to increased investment activities. However, ongoing operational improvements across the group partially offset these impacts. Normalised net profit decreased 2.7% to QR3 billion, reflecting similar factors.

Capital expenditure (CAPEX) during the period fell by 2.4% to QR2.8 billion. Free cash flow rose 11.2% year-on-year to QR5.7 billion, buoyed by solid operational results and lower CAPEX execution in Iraq and Kuwait, which was affected by timing related to supply chain constraints. Normalised free cash flow increased 7.9% to QR5.5 billion. Liquidity remained strong, with QR11.9 billion in cash reserves net of restricted cash and QR6.6 billion in undrawn committed facilities.

The customer base expanded 4.1% year-on-year to 55.1 million users, with significant contributions from Algeria, Iraq, and Qatar. When including IOH, the total customer base reached 146.5 million.

Focusing on its home market, Ooredoo Qatar reported total revenue growth of 2.4% to QR5.46 billion, supported by a 3.5% increase in service revenue driven by continued customer growth. Mobile revenue rose 2.9%, while lower handset revenues partially offset overall growth due to disruptions in device availability amid regional challenges. EBITDA grew 1.5% to QR2.84 billion, with an industry-leading EBITDA margin of 52.0%. The customer base in Qatar increased 2.5% to nearly 3 million, driven by growth in both prepaid and postpaid segments.

Commenting on the results, Ooredoo chairman Sheikh Faisal bin Thani al-Thani emphasized the resilience of the company’s diversified portfolio and business model. CEO Aziz Aluthman Fakhroo highlighted the group’s focus on disciplined execution, enhancing customer experience, and pursuing growth opportunities in connectivity, digital infrastructure, and fintech, aiming for sustainable growth and long-term value creation.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.