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|Qtel 1H 2012 Revenue Increases 6.1%|
The Group’s consolidated customer base stood at 83.7 million (1H 2011: 77.5 million), representing growth in customer numbers of 8 %. EBITDA for the same period increased 8.2% to QAR 7.8 billion (1H 2011: QAR 7.2 billion). EBITDA margin remained robust throughout the period at 48% achieved (1H 2011: 47%).
Net profit attributable to Qtel Shareholders decreased by 11.8% at QAR 1.35 billion (1H 2011: QAR 1.53 billion), mainly due to foreign exchange losses in Indonesia and Algeria. The operational results excluding foreign exchange impact showed growth of around 9%.
Highlights of the period included sustained positive performance in Qatar, Tunisia, Iraq and Algeria; the successful completion of a fully-subscribed Qtel Rights Issue, raising QAR 6.8 billion for the Group; agreement to initial increase in Qtel’s shareholding in Asiacell to 53.9%; and the submission of an offer document for approval from the Kuwait Capital Markets Authority, which may lead to an offer for all the issued shares of the Wataniya Telecom Group not already owned by Qtel.