Ooredoo Maldives Achieves Robust Growth in Q4 2019

Ooredoo Maldives has closed the fourth quarter of 2019 with another robust performance achieving Gross Revenue (GR) of MVR 551 million.

In comparision to the previous quarter, this is a 13% increase in GR driven by Enterprise, Broadband, and seasonal roaming revenue. Likewise, compared to Q4 2018, revenue grew by 14% during this quarter.

Ooredoo Maldives has achieved a Net Profit of MVR 174 million this quarter, registering a growth of 33% over the previous quarter and 18% compared to Q4 2018.

“2019 was a very successful year for Ooredoo Maldives, we closed the quarter with another robust performance
achieving Gross Revenue (GR) of MVR 551 million. Compared to the previous quarter, this is a 13% increase in
Gross Revenue,” Commenting on the results, Mr. Najib Khan, Managing Director, and CEO of Ooredoo Maldives stated.

The company initiated its Digital Maldives strategy with the vision of “Enriching People’s Digital Lives” and during this quarter Ooredoo Maldives has accelerated the company’s focus and investments on Digitalization initiatives. Furthermore, Ooredoo has introduced Wifi Calling (VoWiFi) technology for the first time in the Maldives, which enables users to make/receive calls over a Wi-Fi Network giving crystal clear voice experience when connected onto a WiFi network.

One of the major key highlights of the quarter was the successful conclusion of the 2019 edition of Ooredoo Color Run, which was successfully held in Hulhumale’ in November with over 5,000 runners. Thousands more joined the special festivities of the weekend including Moodhu Ufaa event for kids, Gudi Mahaasama and the star-studded Music Festival.

Ooredoo Maldives has also provided several sponsorships and assistance to the community including Main Sponsor for Mihaaru Sports Awards, Digital Partner for STEM Fest, Co-Sponsor for Run Swim Addu, Platinum Sponsor for Fannu Expo and the Gold Sponsor for Fisheries Expo.

At the Maldives Business Awards (MBA) Ooredoo Maldives grabbed several accolades including; Business of the Year, CSR Program of the Year (for Smart Cities Project with UNDP & Housing Development Corporation of Maldives), Excellence in Information and Communication and Excellence in Foreign Direct Investment.

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