Ooredoo signalled confidence in its strategy by raising its dividend payout range to 50%-70% of normalised net profit after posting a QAR 3.1 billion net profit for the first nine months of 2025 (up 6% year on year). Revenue reached QAR 18.2 billion (up 3%; 5% excluding last year’s Myanmar exit) and EBITDA, a cash-profit proxy before interest, tax, depreciation and amortisation, rose 4% to QAR 8.0 billion with a 44% margin.
Chairman H.E. Sheikh Faisal Bin Thani Al Thani said the results reflect focused execution and investments across markets, while Group CEO Aziz Aluthman Fakhroo highlighted broad-based momentum led by Algeria, Iraq, Tunisia, Kuwait and Qatar. Management reiterated full-year guidance.
The Big Shift: Beyond Telco into Digital Infrastructure
AI & Data Centres
Ooredoo’s infrastructure push is led by Syntys, its AI-ready, carrier-neutral data-centre platform operating in Qatar, Tunisia and Kuwait. Backed by a planned USD 1 billion investment (≈ USD 550 million initial funding) and a minority stake from Iron Mountain, Syntys targets 120MW+ of IT capacity and has enabled Ooredoo’s sovereign AI cloud services powered by NVIDIA GPUs. In Oman, the Salalah Data Centre and Submarine Cable Landing Station, launched 17 August, expands regional compute and connectivity.
Fintech Scale-Up
Ooredoo Financial Technology International (OFTI) processed over USD 6 billion in transactions in Qatar and holds 21% of the remittance market. Roll-outs continue across the footprint: Oman (wallet adoption), Tunisia (app due Q1 2026), Maldives (PayPal partnership), and Iraq (regulatory approval), with licences in progress in Kuwait and Algeria. Partnerships with Western Union, PayPal, Visa, QNB, Thunes and MoneyGram aim to accelerate inclusion and monetisation.
Towers, Subsea and Fibre
The tri-party TowerCo with Zain and TASC remains on track pending approvals, pooling ~30,000 towers across six MENA markets to unlock scale and capital efficiency. The FIG subsea cable, 24 fibre pairs and >720 Tbps design capacity, secured landings in Kuwait and Iraq, reinforcing Gulf-to-Europe routes for cloud, AI and data services.
What Drove the Numbers
- Algeria: Double-digit growth; revenue QAR 2.44bn (↑16%), EBITDA QAR 1.12bn (↑23%), margin 46%; 5G licence granted in July.
- Iraq (Asiacell): Revenue QAR 4.14bn (↑8%), EBITDA QAR 1.92bn (↑5%), margin 46%; customers 19.8m.
- Tunisia: Revenue QAR 1.27bn (↑11%), EBITDA QAR 540m (↑15%), margin 43%; fibre and 4G/5G FWA support growth.
- Kuwait: Revenue QAR 2.42bn (↑4%), EBITDA QAR 770m (↑27%; ↑17% normalised), margin 32%.
- Qatar: Resilient premium positioning; revenue QAR 5.34bn (↑1%); EBITDA QAR 2.80bn (flat; ↑2% normalised), margin 52%.
- Oman: Revenue QAR 1.72bn (↓4%); EBITDA QAR 769m (↓7%), margin 45%; customer base 3.0m and TRA royalty cut to support profitability.
- Maldives: Margin expansion to 56% on disciplined costs.
- Indonesia (IOH, equity-accounted): Modest QoQ gains amid a competitive market.
Numbers at a Glance (9M 2025)
- Revenue: QAR 18.2bn (↑3%; ↑5% ex-Myanmar)
- EBITDA: QAR 8.0bn (↑4%; ↑5% ex-Myanmar) — 44% margin
- Net Profit: QAR 3.1bn (↑6%)
- CAPEX: QAR 2.8bn (↑46%) as the group accelerates network and DC investments
- Free Cash Flow: QAR 5.1bn (↓11%) reflecting front-loaded CAPEX
- Customers: 52.9m (incl. IOH: 147.5m)
- Leverage: Net-debt-to-EBITDA 0.6x — a low gearing level indicating balance-sheet strength
- Liquidity: QAR 15.7bn cash (net of restricted) plus QAR 5.6bn undrawn facilities
- Guidance: On track; FY revenue growth 2%–3%, EBITDA margin low-40s, CAPEX QAR 4.5–5.0bn
Why It Matters (For Qatar’s Economy and Enterprises)
Ooredoo’s strategy recasts the group as a digital infrastructure and services platform, not just a mobile operator. For enterprises and the public sector in Qatar and the wider region, that means more local AI compute, carrier-neutral colocation, faster subsea routes, and scaled fintech rails, all enablers for cloud migration, data sovereignty, and new digital services.
