Ooredoo announces its half-year financial results for 2024

Ramallah - Ma'an - Ooredoo Palestine announced its financial disclosure for the first half of 2024 in accordance with the applicable laws and regulations in Palestine. The company's disclosure statement showed positive performance in various indicators, as the company achieved net profits of $7.0 million, while revenues amounted to $54.3 million, and operating profits before deducting taxes, interest, depreciation and amortization (EBITDA) amounted to $21.3 million. The subscriber base also grew to 1.55 million subscribers, a growth rate of 9%, which indicates the great confidence of subscribers in Ooredoo's services and the strength of its network despite the difficult circumstances witnessed by Palestine. Regarding the overall performance achieved by Ooredoo Palestine during the first half of the year, its CEO, Dr. Samer Fares: 'The ongoing war on the Gaza Strip for more than nine months, and the difficult conditions in the West Bank, all created abnormal conditions that affected the Palestinian economy as a whole during the first half of this year. This impact also extended to the communications sector, as our infrastructure in the Gaza Strip was severely damaged. The West Bank is also experiencing exceptional economic conditions that had a significant impact on the company's financial and commercial performance, and despite all of this, we were able to achieve positive results.' Dr. Samer added: 'Based on our moral, national and social responsibility, during the first half of this year, we allocated part of our budgets to support the beloved Gaza Strip, whether by providing free communication and internet packages to all our subscribers, or through a series of community responsibility programs targeting the displaced. The company and its technical teams on the ground in the Gaza Strip, whom we salute for their dedicated role in serving our people in the Strip, did not hesitate for a moment to maintain our services despite the scarcity of resources and the dangerous conditions, all so that Gaza remains connec ted to the world.' In the same context, Dr. Samer spoke about Ooredoo Palestine's ongoing work to restore the network in the Gaza Strip at the present time with the available capabilities, explaining that despite all the difficulties facing the Palestinian community today, Ooredoo will continue its efforts with all hope to develop plans and prepare to provide the best services to its Palestinian community, and achieve better financial results in the near future, which will meet the aspirations of shareholders and provide the Palestinian market with more positive results that will be reflected in other non-commercial sectors such as education, health, and others. Source: Maan News Agency