Vodafone Qatar (VFQS) Q3 2025 earnings summary

Executive summary

• Total revenue for the nine months ended 30 September 2025 reached QR 2,586 million, up 8.4% year-on-year, with all major business segments contributing to growth through disciplined execution and a data-driven strategy.

• Net profit increased by 13% year-on-year to QR 494 million, driven by higher EBITDA and lower borrowing costs, despite higher depreciation.

• Sustained and profitable growth was achieved in a stagnant market, supported by robust cash flow generation and disciplined cost management.

• Continued investment in mobile and fixed network infrastructure, with innovative features such as Call+ and Vodafone World introduced.

• Progressing on diversification strategy, focusing on fintech and ICT services.

Financial highlights

• EBITDA grew 8.5% year-on-year, with a margin of 42.4%, supported by higher service revenue and stable costs.

• Free cash flow rose 53% year-on-year to QR 679 million, and net debt was reduced by 67% year-on-year.

• Basic and diluted EPS increased to QR 0.117 from QR 0.103 year-on-year.

• Net cash from operating activities was QR 1,028 million, up from QR 709 million year-over-year.

• Net profit margin improved by 2.5 percentage points year-on-year.

Outlook and guidance

• Full-year 2025 guidance revised upward: revenue growth expected to exceed 7%, EBITDA margin around 42.5% or higher, and net profit projected to grow by ~15% year-on-year.

• CapEx intensity guidance increased to about 15.5% for FY2025, with some investments preponed from next year (QR 30–35 million).

• Board approved interim financial statements on 22 October 2025, indicating confidence in ongoing performance.