Omantel’s market share dropped by five percentage points in 2024 to 48% of Oman’s telecom market, leading to a 3% decrease in net profit, which amounted to $795 million. Competitors such as Ooredoo, Vodafone, and Awasr gained ground, impacting Omantel’s position in the country’s telecom sector.
Alpha Data’s shares rose nearly 7% on debut after raising $163 million in its IPO. With a market cap of $408 million, the company is positioned for growth in the digital infrastructure sector. It also announced a high dividend yield of 8.7% for 2025, attracting both growth and income investors.
Ooredoo shareholders approved a QR0.65 per share cash dividend after the company reported strong growth in 2024, with a 2% revenue increase and a 14% rise in net profit. Key developments include partnerships with NVIDIA, the launch of a new data center, and the acquisition of the ‘Fibre in Gulf’ subsea cable.
Tecom Group shareholders have approved the FY 2024 financial statements and a cash dividend of AED400 million ($109 million) for the second half of 2024. The company reported an 11% YoY revenue increase, reaching AED2.4 billion, alongside a 14% rise in net profits to AED1.2 billion.
Robi Axiata posted a record profit of Tk 7.03 billion in 2024, a 119% increase year-on-year, despite a challenging market environment. Revenue grew by less than 1%, with voice and data revenue rising modestly. The company declared a 15% cash dividend, the highest since its market listing in 2020.
Vodafone Qatar is heavily investing in Qatar’s digital economy and telecommunications infrastructure to position the country as a hub for entrepreneurship. Through partnerships with companies like Snoonu and Samsung, Vodafone is supporting startups with resources and digital solutions, fostering innovation, and driving the resilience of Qatar’s economy.
Zain Group has reported record revenue of KD2 billion ($6.4 billion) for FY2024, marking a 3% YoY growth. The company’s net income increased by 15%, and its EBITDA reached KD689 million ($2.25 billion). Zain also recommended a cash dividend of 35 fils per share for the year.
Emirates Telecommunications Group reported a 10% increase in revenue for FY 2024, surpassing analyst expectations. The company’s net income rose by 4.3%, while its profit margin decreased to 18%. Despite higher expenses, the company forecasts 8.1% revenue growth over the next three years.
Space42 reported a strong financial performance in 2024, with an EBITDA of USD 317 million and a net profit of USD 166 million. The Company advanced its strategic objectives, including satellite launches and partnerships in Earth Observation and mobile satellite solutions, positioning itself as a leader in the space and connectivity sectors.
SLT Group reported a strong financial turnaround in 2024, with a Profit After Tax of Rs. 3.1 billion, reversing a loss from 2023. Revenue grew by 4.4%, driven by improved operational efficiency, cost optimization, and robust growth in broadband, mobile, and enterprise sectors. The Group also made significant contributions to state revenue.
