By John Lee.
In its 3Q statement to the markets, Asiacell‘s owner Ooredoo has said that its overall financial performance was impacted by the security situation in Iraq.
Asiacell recorded improved revenue, EBITDA, and Net Profit in Q3 2015 compared to Q2 2015.
Asiacell’s total customer base stood at 10.6 million at the end of the period. Asiacell is the market leader in data revenue for 9M 2015 thanks to its 3G network.
The overall security situation has started to show some improvements in key areas of the country, such as Kirkuk, Tikrit and Diyala where Asiacell has started to reactivate some parts of its network.
The aggressive pricing which had characterized the market for several quarters continued to moderate. Revenue for 9M 2015 was QAR 3,712 million (9M 2014: QAR 4,804 million), a decrease of 23%. EBITDA decreased to QAR 1,612 million in 9M 2015 from QAR 2,272 million in 9M 2014. Net Profit stood at QAR 152 million for 9M 2015 (QAR 868 million in 9M 2014).