Vodafone Qatar swings to positive EBITDA
Vodafone Qatar said its earnings before interest, tax, depreciation and amortisation (EBITDA) was positive for the first time in the third quarter, as the mobile operator reported a narrowed nine-month net loss.
Vodafone Qatar said its EBITDA for the third quarter was 1 million riyals, on revenue of 266.5 million riyals ($73.25 million), boosted by an 18 percent rise in new customers over the quarter.
The Qatari affiliate of British mobile operator Vodafone said in a statement on Tuesday its nine-month net loss narrowed to 456.8 million riyals, compared with 495.6 million riyals in the same period a year ago, a decrease of 8.3 percent.
Vodafone Qatar said its average revenue per user (ARPU) -- a key industry denominator -- was 120 riyals for the three months to Dec. 31, an increase of 8 percent over the previous quarter, the statement said.
"This is our third consecutive increase in quarterly ARPU and represents Vodafone Qatar's progress in bringing new products to market and acquiring customers in new target segments," Wade Kirkland, acting chief financial officer said.
Vodafone Qatar won the bid for Qatar's second mobile telephone license for $2.12 billion in 2007. Qatar's No 2 telecoms provider, which broke the monopoly of Qatar Telecom in the world's largest liquefied natural gas exporter, listed a 40 percent stake after completing its $1 billion IPO in April 2009.