Ooredoo Kuwait Group reported EBITDA growth of 9% in 2022

Ooredoo Kuwait Group reported EBITDA growth of 9% in 2022

- Consolidated revenue increased by 3% to KWD 620.3 million in 2022, compared to KWD 601.7 million in 2021. Revenues in KWD were positively impacted as a result of enhanced performance through implementation of strategic and commercial plans in addition to efficient operations in Kuwait, a year-on-year improvement in Maldives and Palestine, and healthy Tunisian and Algerian market growth in local currency terms.

- EBITDA increased by 9% in 2022 to KWD 226.0 million, compared to KWD 207.6 million in 2021.

- Net profit attributable to NMTC increased by 105% to reach KWD 39.5 million in 2022 from KWD 19.2 million in 2021. Net Profit growth was driven by solid operational and financial earnings from Ooredoo Kuwait, Ooredoo Tunisia, Ooredoo Algeria, Ooredoo Palestine and Ooredoo Maldives.

- The consolidated earnings per share were 79 fils for 2022, compared to 38 fils earned in 2021. The Board of Directors recommends a dividend payment of 70 fils per share, subject to shareholder approval at the General Assembly scheduled for March 2023.

- Consolidated customer base increased to 24.7 million in 2022 compared to 24.0 million in 2021.

Sheikh Mohammad Bin Abdullah Al Thani, Chairman of the Board of Directors commented:

“I am pleased to announce another successful year