Ooredoo Group has released its financial report for the first three quarters of 2024, highlighting a robust performance from Ooredoo Algeria, which has experienced significant growth compared to the same period in 2023. This increase reflects the positive impact of Ooredoo Algeria’s strategic investments, which have expanded and strengthened its network infrastructure nationwide, solidifying its position as a leader in Algeria’s telecommunications sector.
According to the report, Ooredoo Algeria’s revenues reached an impressive 77.3 billion Algerian dinars as of the third quarter of 2024, marking a 15% increase from the 67.5 billion dinars reported during the same period in 2023. This growth also includes a positive adjustment of 529 million dinars. Subscriber numbers rose as well, with Ooredoo’s client base expanding to 14.5 million as of September 2024, reflecting a 10% increase from 13.2 million subscribers in the previous year.
The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for Ooredoo Algeria further demonstrated the operator’s financial health, standing at 33.4 billion dinars, up by a substantial 22% from 27.3 billion dinars in 2023. The company’s commitment to ongoing growth is evident, with investments for the first three quarters of 2024 reaching nearly 11.6 billion dinars, a 21% rise from the 9.6 billion dinars invested during the same period in 2023.
Roni Thome, CEO of Ooredoo Algeria, expressed confidence in the operator’s trajectory, stating, “Thanks to our strategy focused on continuous network expansion and modernization, the first nine months of 2024 have been remarkable for Ooredoo Algeria, which has achieved exceptional growth. We are excited to embark on a new challenge under the Universal Service framework, aiming to bring reliable, high-speed connectivity to 1,211 new localities across 40 wilayas. Our commitment remains unwavering as we build on this momentum and ensure the successful implementation of our strategic plan.”
Beyond its commercial successes, Ooredoo Algeria has demonstrated a strong commitment to social responsibility through various humanitarian initiatives. During significant occasions such as the holy month of Ramadan, Eid al-Fitr, and Eid al-Adha, Ooredoo Algeria has consistently organized charitable events, providing food packages and essential supplies to disadvantaged communities across the country. This compassionate outreach has not only supported those in need but also strengthened community bonds and fostered a spirit of solidarity.
Ooredoo has also been a dedicated supporter of educational initiatives. During the annual “Back to School” period, the company has launched campaigns to provide school supplies, backpacks, and other educational materials to children from underprivileged families. This initiative has helped thousands of students begin their school year with the necessary tools for academic success, underscoring Ooredoo’s commitment to empowering the next generation and supporting youth development in Algeria.
Additionally, Ooredoo Algeria has shown solidarity during times of crisis, quickly mobilizing resources to provide aid in response to natural disasters and emergencies. These initiatives, along with continued support for local charities, sports events, and cultural festivals, demonstrate Ooredoo’s dedication to enhancing the well-being of Algerian communities. This socially conscious approach has not only bolstered the company’s reputation but also resonated with its customer base, reflecting a business model that values corporate citizenship alongside financial performance.
Ooredoo Algeria’s commitment to contributing to Algeria’s telecommunications sector is evident in its efforts to accelerate digital transformation, offering innovative services that cater to an evolving market. With its customers at the core of its mission, Ooredoo aims to elevate the digital experience by enhancing connectivity and accessibility across Algeria. The company’s achievements for the third quarter of 2024 not only affirm its role as a telecommunications leader but also signify its dedication to fostering a digital future for all Algerians.