Vodafone Qatar (VFQS) investor relations material

Executive summary

• Total revenue reached QR 914 million, up 7.1% year-over-year, with net profit rising 24% to QR 201 million.

• EBITDA grew 13.4% year-over-year to QR 406 million, with margin expanding to 44.5% and basic EPS up to QR 0.048.

• Growth was broad-based, with non-mobile services comprising 41.6% of revenue and strong enterprise, fintech, and digital contributions.

• Strategic transformation underway, focusing on AI, digital integration, and IT modernization over the next 15–18 months.

• Business continuity maintained despite regional conflict, with diversified connectivity and robust inventory.

Financial highlights

• EBITDA margin reached 44.5%, with underlying margin (excluding equipment) at 50%.

• Free cash flow increased 5.3% year-over-year; net debt declined 45% year-over-year.

• Service revenue rose 9.4% year-over-year, driven by all segments, especially prepaid and postpaid.

• CapEx for the period was QR 81 million (8.9% intensity), focused on network expansion and customer acquisition.

• Net debt to equity ratio improved from 10.8% to 5.6%.

Outlook and guidance

• Full-year 2026 guidance expects mid-single digit top-line growth, with EBITDA margin above 43.5%.

• Net profit growth anticipated in the mid-teens; CapEx intensity projected at 14.5%-15.5%.

• Growth to be volume-driven in a stable pricing environment, except for ongoing enterprise pricing pressure.

• Interim dividends will not be distributed for the period ending March 31, 2026; future distributions subject to financial performance and regulatory approval.

• Management notes results for the three-month period are not necessarily indicative of full-year performance.