Qtel Sees Continuing Customer Growth across Qatar and Key Markets
Qtel's robust financial performance reported earlier in the week, which saw the Qtel Group revenues increase 13.7 percent to stand at QR 13.1 billion, positions the company to continue to deliver value for shareholders and customers in Qatar.
Dr. Nasser Marafih, Chief Executive Officer, Qtel, outlined the key points of the company's economic performance in a special press conference in Qatar today. In particular, he emphasised the company's ambitions to continue in its role as the preferred network in Qatar, and its plans for ongoing investment in new services and enhanced customer support.
Net profit attributable to Qtel shareholders at the end of H1 2010 stood at QAR 1.8 billion (H1 2009: QAR 1.6 billion) and the Group's consolidated customer base stood at 66.6 million (H1 2009: 51.4 million).
In Qatar, the company grew its customer base by 11 percent, to end the quarter with 2.4 million customers (H1 2009: 2.2 million customers). This significant result demonstrates the resilience of the brand in the face of enhanced competition, as well as the company's success in innovating in new product and service areas. Revenue for Qatar ended H1 2010 at QR 2.8 billion (H1 2009: QR 2.9 billion) with EBITDA at QR 1.5 billion (H1 2009: QR 1.8 billion) with sequential quarterly results positive for both revenue and EBITDA.
Dr. Nasser Marafih said: "Qtel's regional and international success is built upon the firm foundations we have laid in Qatar, and we continue to enjoy stability and sustainable development because of the strong support we receive from the people of Qatar. In the face of competition, we continue to win new customers and develop new services, which in turn contribute to the wider growth of our Group."
"As a proud Qatari company, we will continue to re-invest the rewards of our hard work into Qatar, to provide opportunities, innovation and financial stability for the people and for our stakeholders," he added.
As well as contributing significant financial and managerial resources, Qtel's presence in Qatar has helped stimulate innovation across the whole Group. The company is in the process of rolling-out an ambitious fibre-to-the-home nationwide project, which will offer advanced Internet speeds to homes across the country.
The company is also developing a new range of mobile services for the people of Qatar, including mobile commerce and mobile music applications. More than 50,000 people in Qatar currently use Mobile Broadband solutions, logging into the Qtel network using Smartphones, laptops, gaming consoles and other wi-fi- enabled devices. Throughout 2010, the company has invested in speed and performance upgrades to provide the highest quality of Internet experience within Qatar.
Recognizing the importance of stability within the market, Qtel is executing a strategy that focuses on share of revenue, rather than simply focusing on headline customer numbers. By ensuring that value and choice are being provided across the market, Qtel is making an important contribution to the development of the nation's technology infrastructure.
The benefits of this approach are being felt across the Qtel Group. With a presence in 17 countries, the Qtel Group has seen strong results across its regional footprint by extending the services it provides to customers. In Oman, its Nawras operations have successfully launch a broad range of new fixed line services to complement its mobile offering. The company also surpassed the 2 million customer milestone in 2010.
Equally importantly, its Wataniya operations, which provide the company with a presence in Kuwait, Tunisia, Algeria, Kingdom of Saudi Arabia, the Maldives and Palestine, has seen its customers base increase by 33 percent in the first half of the year, to stand at 15.8 million customers.