By John Lee.
Mobile phone service Asiacell has reported a healthy increase in its customer base and local-currency revenue.
In its results for FY 2021, parent company Ooredoo said:
"Asiacell reported revenue of QAR 3.7 billion during 2021, a decrease of 9% mainly due to the devaluation of the Iraqi Dinar by 18%. In local currency terms, the revenue was up 9% and EBITDA increased 13% supporting a strong EBITDA margin of 46% driven by ongoing cost optimisation initiatives.
"The company witnessed a significant increase in data consumption after it extended its 4G coverage to 90% of the sites, launched 4G+ and increased LTE-enabled sites in the network. As a result, Asiacell was recognised as best mobile network operator in Iraq due to its rating as the fastest mobile network and the best mobile coverage by an independent third-party research company.
"Launched towards the end of 2021, Asiacell's 'Yooz', a digital lifestyle app that offers exclusive value for the youth in Iraq, gained popularity and drove growth in customer engagement.
"Asiacell's customer base increased by 9% to 15.9 million for the year ended 30 December 2021, compared to 14.7 million for the same period in 2020."