Ooredoo (ORDS) Q3 2026 earnings summary

Executive summary

• 9M revenue rose 4.3% to QAR 18,959.6m, reported EBITDA increased 6.3% to QAR 8,476m and free cash flow grew 11.2% to QAR 5,706m.

• Customer base reached 146.5m including IOH; execution advanced across towers, data centres, AI infrastructure, fintech and regional connectivity.

• Broad-based market growth and cost discipline supported performance; FY2026 guidance was maintained.

Financial highlights

• 9M net profit attributable to shareholders fell 5.0% to QAR 2,935m; adjusted net profit declined 2.7% to QAR 2,992m.

• Reported EBITDA growth was 6.3%, versus 4.2% adjusted; reported margin rose 0.9pp to 44.7%, while adjusted margin was flat at 43.8%.

• Q3 revenue rose 3.8% to QAR 6,502m and EBITDA grew 4.4% to QAR 2.9bn; net profit fell 4.7% reported and 13.2% adjusted.

• Q3 free cash flow increased 19.5% to QAR 1,789m.

Outlook and guidance

• FY2026 guidance remains revenue growth of 3%–5%, EBITDA margin in the low-40% range and capex of QAR 5.0–6.5bn; 9M revenue, margin and capex were QAR 19.0bn, 44.7% and QAR 2.8bn.

• Management cited confidence in meeting full-year objectives while monitoring regional geopolitical and macroeconomic developments.

• Iraq top-line and customer growth were tracking plan; discretionary spending weakness and delayed network rollout weighed on near-term profitability and execution.