Asiacell, the telecom giant in Iraq predominantly owned by Qatar’s Ooredoo Group, showcased a robust performance in the third quarter, marking substantial growth in revenue and EBITDA by double-digit figures. The client base remained steadfast at 17.1 million, affirming the company’s stable market presence in the region.
The standout success for Asiacell was the remarkable 19% surge in revenue, primarily propelled by an upsurge in data revenues. Notably, the company witnessed a remarkable 25% increase in EBITDA, accompanied by a 2-percentage-point margin enhancement to 46%, largely attributed to the higher-margin data revenue streams.
During the third quarter of 2023 (spanning July, August, and September), Iraq observed a significant influx of approximately 22 million visitors over 40 days during the Arbaeen occasion, significantly impacting Asiacell’s performance. This surge led to a notable rise in roaming income, spurred by the introduction of diverse offers and agreements. Asiacell reported a substantial 3,800TB of data consumption, served 3.6 million roamers, and facilitated a staggering 72 million phone calls throughout the event.
The quarter also witnessed the unveiling of a pivotal addition to Asiacell’s portfolio—the introduction of an e-commerce platform. This strategic move further underlines the company’s commitment to innovation and diversification in the Iraqi market. Overall, these successes position Asiacell as a key player, shaping the telecommunications landscape in Iraq and setting the stage for sustained growth and strategic expansion in the foreseeable future.
