Vodafone Qatar (VFQS) Q1 2025 earnings summary

Executive summary

• Total revenue for Q1 2025 reached QAR 855 million, up 6.1% year-over-year, with net profit at QAR 162 million, an 8.1% increase, reflecting steady growth and strategic execution across all segments.

• Over 41% of revenue now comes from non-mobile services, highlighting successful diversification and reduced reliance on mobile.

• Launched the iPoints loyalty program to enhance customer engagement and retention through telecom and partner brands.

• Service revenue grew 2.5% year-over-year to QAR 721 million, with a mobile customer base of 2.1 million.

Financial highlights

• EBITDA grew 6.1% year-over-year to QAR 358 million, with a margin of 41.9%.

• Operating cash flow increased 22% year-over-year to QAR 282 million; free cash flow rose 22.3%.

• Net debt reduced by 12% year-over-year; net debt-to-EBITDA improved to 0.37x.

• Basic and diluted EPS rose to QAR 0.038 from QAR 0.036 year-over-year.

• Total comprehensive income for Q1 2025 was QAR 165.4 million, up from QAR 148.1 million in Q1 2024.

Outlook and guidance

• FY25 guidance targets at least 4% revenue growth, EBITDA margin around 42%, and net profit growth of 8–10%.

• CapEx for the year projected between 13% and 14.5% of revenue.

• Continued expansion of fibre and 5G network infrastructure is expected to support future growth and digital innovation.