Qtel Group's 3 month revenues reach QR 951 million

Qtel Chairman Sheikh Abdullah Bin Mohammed Bin Saud Al Thani said, "We have ended our first quarter with excellent financial growth and I am pleased to report that the Group's results, for the three months ended 31st March 2006, continue to project a strong growth in revenue, EBITDA and net profit."

In the three months to 31st March 2006, the Group achieved revenues of QR 951 m (2005 - QR 649 m), an increase of 46.5% over the corresponding period last year, and an EBITDA of QR 590 m (2005 - QR 379 m), an increase of 55.7%. In achieving these results the Group has also successfully grown its mobile customer base by 96.4% over the corresponding period from 548,800 subscribers to 1,077,600.

The Group, on a consolidated basis achieved net profit (before royalty) of QR 548 m (2005 - QR 349 m), representing an impressive growth of 57.0%. Taking into account the royalty payable to the Government of Qatar, the Net profit of the Group attributable to Qtel's shareholders, is QR 419 m; a significant increase of 47.0% (2005 - QR 285 m).

"While our business in Qatar continues to grow, we are especially pleased that Nawras, has grown its customer base rapidly within one year of operation. By 31st March 2006, close to 320,300 customers, representing 22% market share, have been connected to the ever expanding Nawras customer base."

"Our business in Qatar saw revenue rise by 33.6%, over the corresponding period last year from QR 645 m to QR 862 m. The business also saw a strong EBITDA growth to QR 598 m, an increase of 35.3% compared to 2005. This revenue growth continues to be driven specially through our Wireless Services which grew its customer base by 42.4% to 757,400 achieving a revenue of QR 578 m (2005 - QR 409m). Revenue from Wireline business also grew by 24.4% to QR 270 m (2005 - QR 217 m)."

"As we roll out exciting new services this year such as 3G, Triple Play and a host of other value added services; and continue with our network infrastructure expansion, particularly for the 15th Asian Games in early December, we expect to witness significant growth from Wireless, data and Internet services. This growth will come both from customers based here in Qatar, as well as visitors and tourists coming to the country."

"Our commitment to becoming the region's premier telecommunications provider is supported by our success in Nawras and our strong financial growth; as we continue to look at other regional expansion plans," concluded Sheikh Abdullah.