Qatari telecom provider Ooredoo announced financial results of its Iraqi unit Asiacell to the Iraqi Stock Exchange (ISX), reporting a net revenue decrease by 10% to QAR 4.80 million during the first nine months of 2014 compared to QAR 5.31 million during the same period last year, according to Iraq Business News website.
According to their financials, Asiacell’s earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 19% to QAR 2.272 million and EBTIDA margin dropped by 47% against 53% during the corresponding period a year earlier. Moreover, Asiacell customers fell 16% to 12.3 million.
It is worth noting that the growing insecurity and instability have affected Asiacell’s revenues to some extent. The company closely monitors the situation and has a number of contingency plans to ensure its continued operation. Furthermore, Asiacell has focused on a number of cost efficiencies during this period to face growing competition in the market.
According to their financials, Asiacell’s earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 19% to QAR 2.272 million and EBTIDA margin dropped by 47% against 53% during the corresponding period a year earlier. Moreover, Asiacell customers fell 16% to 12.3 million.
It is worth noting that the growing insecurity and instability have affected Asiacell’s revenues to some extent. The company closely monitors the situation and has a number of contingency plans to ensure its continued operation. Furthermore, Asiacell has focused on a number of cost efficiencies during this period to face growing competition in the market.
Source:
Mubasher
