Ooredoo (ORDS) Q4 2025 earnings summary

Executive summary

• Achieved strong FY 2025 results with double-digit net profit growth for the fourth consecutive year, reaching a record reported net profit of QAR 3.9 billion (+12%) and surpassing $1 billion.

• High-growth markets contributed 47% of group revenue, up from 44% last year, and the customer base grew by 2 million to 53 million (147 million including IOH).

• Surpassed revenue guidance, met EBITDA margin and CapEx guidance, and advanced digital infrastructure leadership with the RISE strategy.

• Raised dividend payout policy to 50%-70% of normalized net profit, with a 15% increase in dividend per share to QAR 0.75.

• Completed a global secondary offering, increasing free float to 27% and improving stock liquidity.

Financial highlights

• Revenue grew 6% year-over-year to just under QAR 25 billion, with Q4 revenue up 8%.

• Normalized EBITDA increased 7% to around QAR 11 billion, with a margin of 43%.

• Reported net profit rose 12% to just under QAR 4 billion; normalized net profit grew 10% to QAR 4 billion.

• Free cash flow declined 13% to just under QAR 6 billion due to increased strategic investments.

• Dividend per share increased by 15% to QAR 0.75 (59.1% payout ratio).

Outlook and guidance

• 2026 revenue growth expected between 3%-5%, with EBITDA margins in the low 40% range.

• CapEx guidance for 2026 is QAR 5-6.5 billion, reflecting ongoing investment in infrastructure and adjacencies.

• Management expects continued operational existence and growth, with adequate resources to support future activities.