We are proud to present Vodafone Qatar’s 2024 financial and operational
performance, reflecting a year of growth and innovation.
Guided by our ethos, "Together We Can," we remain committed to connecting today’s ideas with the
technologies of tomorrow.
Over the past year, Vodafone Qatar’s pioneering efforts in digital innovation have set new
benchmarks within the global telecommunications industry, enhancing both product innovation and
customer experience. This report highlights our key achievements in 2024,
underscoring our continued ability to deliver world-class connectivity to consumers and
businesses alike.
A Year of Transformation and
Innovation
Early in 2024, we achieved a significant milestone with a groundbreaking two-phase trial in 5G
technology,
reaching over 10 gigabits per second (Gbps) using the U6G spectrum. The 6GHz band, capable of
high-capacity city-wide 5G and 5.5G coverage,
is set to redefine consumer and business experiences, supporting Vodafone Qatar's potential
system capacity of up to 30 Gbps in the near future.
This year also marked the launch of the Instant SIM, a pioneering product in seamless
connectivity. As the world’s first of its kind, Instant SIM empowers Vodafone Qatar’s customers
to activate prepaid or postpaid connections anytime,
anywhere—without requiring Wi-Fi or data—revolutionizing connectivity for Qatar’s residents and
visitors alike.
In partnership with Microsoft, we introduced the Microsoft AI Digital Contact Centre,
providing organizations across Qatar with an advanced AI-powered platform to transform customer
service, reduce operational costs, and elevate customer experience.
We are excited to expand this partnership to drive further innovation and cement Qatar’s
position as a global digital leader.
Sustainability remains a core pillar of Vodafone Qatar’s strategy, guiding our decisions and
aligning with both national and international goals. Looking ahead, we remain committed to five
key objectives: simplifying operations,
digitising As one of Qatar’s digital infrastructure leaders, Vodafone Qatar maintains a
customer-centric approach, with customer experience at the heart of all future initiatives.
customer experiences, expanding core markets, diversifying beyond core markets, and upholding
responsibility to our customers, shareholders, and the environment.
As one of Qatar’s digital infrastructure leaders, Vodafone Qatar maintains a
customer-centric approach, with customer experience at the heart of all future initiatives.
Financial Highlights
The Company reported
a net profit of QR 601million for the financial year 2024,
reflecting 11.2% increase compared to the previous year mainly driven by EBITDA growth.
Total revenue increased by 2.5% year-on-year reaching QR 3.2 billion driven by 2.5% growth
in service revenue, which reached QR 2.8 billion. This growth is attributed to the sustained
growth across all business segments,
including mobility, managed services, fixed broadband services (Gigahome), handsets and others.
EBITDA for the period increased to QR 1.4 billion, reflecting a growth of 6.1% compared to
last year, positively impacted by the higher service revenue and the continued success of the
cost optimization program.
Consequently, the reported EBITDA margin reached 42.8%, expanding by 1.4ppts. However,
underlying EBITDA margin, excluding equipment and one-offs, reached 45.8%. Vodafone Qatar is now
serving 2.1 million mobile customers.
Lastly, the Company achieved a return on capital employed of 11.7% in 2024, reflecting
1.1ppts increase compared to FY 2023. This is the result of successfully allocating capital to
existing and new areas to diversify revenue and accelerate profitable growth.
Based on Vodafone Qatar’s commitment to enhance shareholder value and the strong financial
performance, the Board of Directors has recommended the distribution of a cash dividend of 12%
of the nominal share value, i.e. QR 0.12 per share,
which will be presented at the Company’s next Annual General Assembly for approval.
The Board of Directors is proud to announce the fulfillment of its dividend policy
commitment, achieving a dividend distribution of 12% of the nominal value. The Board has also
approved a new dividend policy, aiming for a dividend distribution of not less than 10% of the
Company's share capital.
The Board of Directors may change the dividend percentage after evaluating a range of factors
including net profits, regulatory requirements, and future investment opportunities.
As we look back on another year filled with progress and prosperity, we should feel a
collective sense of pride that the achievements outlined in this report will deliver positive
returns to our shareholders, and we are confident that Vodafone Qatar will continue its path of
achieving success in the near future.
A Word of Appreciation
The Board extends
heartfelt gratitude to His Royal Highness Sheikh Tamim bin Hamad Al Thani, whose vision has
empowered Qatar’s telecommunications and tech sectors to flourish in alignment with National
Vision 2030.
We also thank the regulatory authorities—the Communications Regulatory Authority, Ministry of
Communications and Information Technology, Ministry of Commerce and Industry, Qatar Financial
Markets Authority, Qatar Stock Exchange, and EDAA—for fostering a supportive business
environment.
Our deepest appreciation also goes to our exceptional Executive Management team for their
leadership and to all Vodafone Qatar employees, whose dedication is vital to our success.
Finally, to our valued customers and stakeholders, we extend our thanks for their trust and
support.
As we look to another year of prosperity, we reaffirm our commitment to achieving even greater
success in 2025.
We are proud to present Vodafone Qatar’s 2024 financial and operational
performance, reflecting a year of growth and innovation.
Guided by our ethos, "Together We Can," we remain committed to connecting today’s ideas with the
technologies of tomorrow.
Over the past year, Vodafone Qatar’s pioneering efforts in digital innovation have set new
benchmarks within the global telecommunications industry,
enhancing both product innovation and customer experience.
This report highlights our key achievements in 2024, underscoring our continued ability to
deliver world-class connectivity to consumers and businesses alike.
A Year of Transformation and
Innovation
Early in 2024, we achieved a significant milestone with a groundbreaking two-phase trial in 5G
technology, reaching over 10 gigabits per second (Gbps) using the U6G spectrum. The 6GHz band,
capable of high-capacity city-wide 5G and 5.5G coverage, is set to redefine consumer and
business experiences, supporting Vodafone Qatar's potential system capacity of up to 30 Gbps in
the near future.
This year also marked the launch of the Instant SIM, a pioneering product in seamless
connectivity. As the world’s first of its kind, Instant SIM empowers Vodafone Qatar’s customers
to activate prepaid or
postpaid connections anytime, anywhere—without requiring Wi-Fi or data—revolutionizing
connectivity for Qatar’s residents and visitors alike.
In partnership with Microsoft, we introduced the Microsoft AI Digital Contact Centre,
providing organizations across Qatar with an advanced AI-powered platform to transform customer
service,
reduce operational costs, and elevate customer experience. We are excited to expand this
partnership to drive further innovation and cement Qatar’s position as a global digital leader.
Sustainability remains a core pillar of Vodafone Qatar’s strategy, guiding our decisions and
aligning with both national and international goals. Looking ahead, we remain committed to five
key objectives:
simplifying operations, digitising customer experiences, expanding core markets, diversifying
beyond core markets, and upholding responsibility to our customers, shareholders, and the
environment.
As one of Qatar’s digital infrastructure leaders, Vodafone Qatar maintains a
customer-centric approach, with customer experience at the heart of all future initiatives.
Financial Highlights
The Company reported
a net profit of QR 601million for the financial year 2024,
reflecting 11.2% increase compared to the previous year mainly driven by EBITDA growth.
Total revenue increased by 2.5% year-on-year reaching QR 3.2 billion driven by 2.5% growth
in service revenue, which reached QR 2.8 billion.
This growth is attributed to the sustained growth across all business segments, including
mobility, managed services, fixed broadband services (Gigahome), handsets and others.
EBITDA for the period increased to QR 1.4 billion, reflecting a growth of 6.1% compared to
last year, positively impacted by the higher service revenue and the continued success of the
cost optimization program.
Consequently, the reported EBITDA margin reached 42.8%, expanding by 1.4ppts. However,
underlying EBITDA margin, excluding equipment and one-offs, reached 45.8%. Vodafone Qatar is now
serving 2.1 million mobile customers.
Lastly, the Company achieved a return on capital employed of 11.7% in 2024, reflecting
1.1ppts increase compared to FY 2023.
This is the result of successfully allocating capital to existing and new areas to diversify
revenue and accelerate profitable growth.
Based on Vodafone Qatar’s commitment to enhance shareholder value and the strong financial
performance, the Board of Directors has recommended the distribution of a cash dividend of 12%
of the nominal share value,
i.e. QR 0.12 per share, which will be presented at the Company’s next Annual General Assembly
for approval.
The Board of Directors is proud to announce the fulfillment of its dividend policy
commitment, achieving a dividend distribution of 12% of the nominal value. The Board has also
approved a new dividend policy,
aiming for a dividend distribution of not less than 10% of the Company's share capital. The
Board of Directors may change the dividend percentage after evaluating a range of factors
including net profits, regulatory requirements,
and future investment opportunities.
As we look back on another year filled with progress and prosperity, we should feel a
collective sense of pride that the achievements outlined in this report will deliver positive
returns to our shareholders,
and we are confident that Vodafone Qatar will continue its path of achieving success in the near
future.
A Word of Appreciation
The Board extends
heartfelt gratitude to His Royal Highness Sheikh Tamim bin Hamad Al Thani, whose vision has
empowered Qatar’s telecommunications and tech sectors to flourish in alignment with National
Vision 2030.
We also thank the regulatory authorities—the Communications Regulatory Authority, Ministry of
Communications and Information Technology, Ministry of Commerce and Industry, Qatar Financial
Markets Authority, Qatar Stock Exchange, and EDAA—for fostering a supportive business
environment.
Our deepest appreciation also goes to our exceptional Executive Management team for their
leadership and to all Vodafone Qatar employees, whose dedication is vital to our success.
Finally, to our valued customers and stakeholders, we extend our thanks for their trust and
support.
As we look to another year of prosperity, we reaffirm our commitment to achieving even greater
success in 2025.
