Kuwait, (Business News Report)|| Ooredoo Kuwait telecommunications company has achieved significant profits during the past year 2021, compared to its profits for the previous year.
Ooredoo Kuwait said that its profits grew by 468% during the year 2021 on an annual basis.
The company clarified in its financial disclosure that the net profit attributable to Ooredoo amounted to $62 million for the year 2021, Ooredoo said.
The net profit represents a strong growth of 468%, compared to 3 million Kuwaiti dinars ($9.8 million) for the same period in 2020,
The company’s income before interest, taxes, depreciation and amortization increased by 5% to reach 208 million Kuwaiti dinars ($685 million) for the year 2021, compared to 197 million Kuwaiti dinars ($649 million) in 2020, according to the statement.
It indicated that its consolidated earnings per share amounted to 38 fils for the year 2021, compared to 7 fils per share in 2020.
The company stated that the Board of Directors recommended the distribution of cash dividends of 35 fils per share, subject to the approval of shareholders in the general assembly scheduled to be held in March 2022.
Ooredoo said it continued to focus on improving cost efficiency and digital transformation, which led to an increase in EBITDA by 18%, and an improvement in EBITDA margin by 29%.
Qatar Telecom (Ooredoo) is the first provider of telecommunications services in the State of Qatar. At the same time, it is one of the largest telecommunications companies in the world, with nearly 2,000 employees. The company was successfully incorporated in several financial markets.
Accusations
In a separate context, Ooredoo denied accusations made by a member of the Chokri Belaid and Mohamed Brahmi Defence Committee, during a press conference in Tunisia.
The company stated, in a statement, that all the accusations against it and its general manager in Tunisia, Mansour Rashid Al-Khater, are totally false.
Ooredoo also mentioned that it has been working for 20 years and has always abided by the law.
