Omani Qatari Telecommunications Company SAOG reported preliminary unaudited financial results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported revenues of OMR 51.4 million compared to OMR 50.8 million, EBITDA of OMR 26.2 million compared to OMR 26.8 million and net profit of OMR 10.3 million compared to OMR 11.9 million for the last year. Revenue growth was supported by fixed and mobile data and international voice revenue partially offset by drop in SMS. EBITDA for 2012 was affected by lower revenue as well as increase in cost of sales due to increased international minutes. Net profit was affected by lower EBITDA as well as higher depreciation partially offset by lower interest cost. Higher depreciation was driven by increased investment in network modernisation while lower interest cost was due to decrease in outstanding debt.

For the year, the company reported revenues of OMR 193.5 million compared to OMR 196.9 million, EBITDA of OMR 94.9 million compared to OMR 103.4 million and net profit of OMR 37.0 million compared to OMR 47.5 million for the last year. The decline in revenue is primarily driven by a reduction in SMS and on net voice revenue, partially offset by growth in both mobile and fixed data revenues. EBITDA for 2012 was affected by lower revenue as well as increase in cost of sales due to increased international minutes. Net profit was affected by lower EBITDA as well as higher depreciation partially offset by lower interest cost. Higher depreciation was driven by increased investment in network modernisation while lower interest cost was due to decrease in outstanding debt.