The Ooredoo Group shows solid growth in the first quarter of 2023, according to financial results released yesterday. Ooredoo Algeria records positive financial indicators compared to the same period last year thanks to its winning strategy focused on digitization, indicates a press release received by our editorial staff.
Ooredoo Algeria's revenue for the first quarter of 2023 reached 21.4 billion Algerian dinars, an increase of 1.4% compared to the same period of the previous year, which was 21.1 billion Algerian dinars. This growth is supported by a 3.9% increase in earnings before interest, taxes (taxes), depreciation and amortization and provisions on fixed assets (EBITDA), which stands at 8.4 billion Algerian dinars.
In terms of subscribers, Ooredoo Algeria also recorded growth, with a total of 13 million subscribers at the end of March 2023, compared to 12.9 million subscribers in the same period of the previous year. During the first quarter of 2023, the company invested nearly 2.5 billion Algerian dinars to continue its growth.
Ooredoo's Acting Managing Director, Mr. Roni THOME, said the company is determined to maintain its position as a key player in the national telecommunications market, by offering innovative solutions that meet the needs of its millions of customers. . He also underlined the company's commitment to social responsibility, with a multitude of charitable and solidarity actions carried out for the benefit of the vulnerable sections of Algerian society, particularly during the month of Ramadan.
These financial results for the first quarter of 2023 once again prove Ooredoo Algeria's desire to contribute to the development of the mobile telephony sector in Algeria by accelerating the digitization of its services and solutions on the Algerian market. The strategy focused on digitization seems to be bearing fruit and Ooredoo Algeria intends to continue investing to consolidate its leading position in the national telecommunications market.