Qatari telecom firm Ooredoo continues to reduce losses in its Myanmar arm relative to 2015, according to the group’s third-quarter results, although the Myanmar operation saw new subscriptions dip compared to the last two quarters.
Unlike rival telco Telenor, Ooredoo’s Myanmar operations are not yet consistently profitable. But the Qatari firm’s Myanmar arm is still having a much better year financially than in 2015.
Across the first three-quarters of 2015, Ooredoo’s earnings before interest, tax, depreciation and amortisation – EBITDA – were negative Q30 million (K10.3 billion; US$8.2 million). Over the same period this year, EBITA was only negative Q7 million – a 76 percent fall in losses.
In a results call held yesterday a member of the firm’s senior management said the Myanmar operations were “almost EBITDA neutral”.