Modest, but improved results
Ooredoo recorded flat 9M 2016 revenues at QAR24.265bn (vs. +1.4% expected for the whole year) due to the ongoing challenges in Iraq and the currency depreciation in Algeria and Tunisia, offsetting the strong performances in Indonesia, Oman, Kuwait, Myanmar and the slight growth in Qatar. Indeed, revenues were mainly affected by: 1/ the 15% decrease in revenues in Iraq, due to the continued insecurity and political instability, the challenging economic environment and the decrease of customer purchasing power in the country, 2/ the 10% decrease in revenues in Algeria due to the depreciation of the Algerian Dinar (-10%, yoy,), 3/ the 7% drop in revenues in Tunisia impacted by challenging economic conditions and the depreciation of the Tunisian Dinar (-7.5%, yoy,).
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