MUSCAT : Oman Telecommunications Company (“Omantel” or the “Company”) (MSX: OTEL), the leading integrated telecommunications and technology provider in the Sultanate of Oman, today announced its financial and operating results for the first quarter ended 31 March 2026, reporting year-on-year growth in revenue, EBITDA and net profit. The Group’s performance was supported by resilient domestic operations and a stronger contribution from Zain Group.

Chairman Quote

Qais Saud Al Zakwani– Chairman of the Board of Directors for of Omantel

Reflecting on the first-quarter performance, Qais Al-Zakwani, Chairman of the Board of Directors for Omantel, noted that the first quarter of 2026 represented an important phase of preparation for the Group’s upcoming transformation journey, as the Company works to lay the foundations for the next stage of its growth and transformation.

Al-Zakwani explained that while domestic performance reflects this transitional phase, Zain Group continued to make positive contributions to Omantel Group’s consolidated results, reaffirming the value created by Omantel’s diversified investment portfolio.

He further noted that the launch of OTech represents a pivotal step in strengthening Omantel’s technological capabilities and opens new horizons for value creation, in alignment with the targets of the Company’s strategy. He expressed his confidence in the Company’s path forward, supported by the resilience of its core operations and the commitment of its people.

CEO Quote

Aladdin Abdullah Baitfadhil – Chief Executive Officer of Omantel

Commenting on the results, Aladdin Abdullah Baitfadhil, Chief Executive Officer of Omantel, said that the Company’s diversified portfolio and disciplined strategic execution enabled Omantel to deliver a strong start to the year despite ongoing economic and regional uncertainty. He noted that growth across revenue, EBITDA and net profit reflects sustained momentum in fixed broadband and wholesale services, the improving performance of Zain Group, and the continued progress of ZOI together with Zain Group.

He added that the launch of OTech, bringing Oman Data Park and Tadoom together under a unified technology platform, marks a key step in strengthening the Compani’s technology capabilities, reinforcing Omantel’s market leadership, and enabling its long-term growth plans. Continued investment in fiber, 5G and emerging technologies, he noted, further strengthens Omantel’s role in driving the Sultanate’s digital transformation.

Q1 2026 Operating and Strategic Highlights

New Board and Chairman Appointed:

Following the conclusion of the previous Board’s term, a new Board of Directors was appointed in Q1 2026,

including changes to its composition and the election of Mr Qais Al-Zakwani as Chairman of Omantel.

OTech Launched as Unified Technology Platform:

Omantel advanced national digital priorities through the launch of OTech, Omantel’s unified technology platform consolidating its ICT capabilities under one umbrella.

Financial Highlights

In millions of Omani Riyals, except per share amounts

^{1 Prior year figures are restated for the effects of IAS 29}

Revenuesreached 856.7 million in the first quarter of 2026, a 6.1% increase YoY (Q1 2025: 807.4 million), reflecting broad-based growth across the Group’s operating markets, sustained momentum in core telecom revenues, and continued demand across enterprise and digital services.

EBITDAincreased to 268.5 million for the three months ending 31 March 2026, a 4.9% increase YoY (Q1 2025: 256.0 million), primarily driven by strong performance from Zain Group.

Net profit Attributable to Shareholders of the Company increased to 20.9 million for the three months ending 31 March 2026, an increase of 22.9%, primarily driven by Zain Group’s stronger contribution to consolidated results.

Earnings per share Earnings per share rose to 0.028 in the first quarter of 2026, an increase of 21.7% year-on-year, compared to 0.023 (restated) in Q1 2025.

Domestic Market Performance (excluding Zain)

In thousands of Omani Riyals

1 To provide a like‑for‑like year‑on‑year comparison, normalized net profit includes the final dividend of 29.8 million (2025: 29.3 million) from Zain Group for the year 2025 which was received and recognized in advance during the fourth quarter of 2025.

Adjusted for the above, the reported net profit attributable to shareholders of the Company for the first quarter of 2026 amounted to 0.8 million, compared to 4.2 million in the corresponding period of 2025.

Domestic financial highlights

Revenues grew by 8.5% compared to last year, with robust performance across Telecom revenues 8.4%. Growth was led primarily by Wholesale +14.4%, Fixed Line +5%, Mobile +1.1%, and Devices +19%, as well as sustained double-digit expansion in ICT and Emerging +10.5%.

EBITDA increased slightly to 41.7 million for the first quarter ended in March 2026, (Q1 2025: 41.6 million).

Normalized net profit attributable to shareholders of the Company

for the first quarter ended 31 March 2026 it stood at 30.6 million, compared to 33.5 million in the same period last year.
The decline is primarily related to an increase in depreciation and amortization which is a direct result of our robust capital investments across both the core telecom business and emerging technologies. These investments are strategic in nature and are aimed at supporting long‑term growth, enhancing customer experience, strengthening operational resilience, and driving sustainable value creation.

Mobile Service

Mobile service revenue increased by 1.1% year-on-year, primarily driven by postpaid growth and supported by disciplined base management focused on retention and value-led upselling. In a market shaped by ongoing price competition, the Company maintained revenue quality through a healthier postpaid subscriber mix and resilient performance, while continued expansion in M2M and IoT connections reflected rising demand for smart and connected solutions.

Omantel maintained its market leadership, underpinned by 50,000 net additions in the M2M segment and 25,000 net additional postpaid subscribers year-on-year.

Device

Device revenue increased 19% year-on-year, driven by stronger consumer demand, successful promotions, and the introduction of new high-value devices in the Omani market.

Fixed Line

Fixed services delivered steady growth in 2026, supported by expanding FTTH coverage and Wireless Home Broadband services (WFBB), rising broadband demand, and a continued shift toward higher‑value plans.

In fixed broadband services, Omantel retained a leading subscriber market share. Fixed broadband subscribers increased supported by customer migration to higher-tier fiber plans and continued enhancement of fiber coverage.

ICT and Emerging Tech

ICT and Emerging Tech revenue rose by 1.0 million, mainly due to hosting and cloud services, as part of our Techo strategy to diversify income streams.

Wholesale

Wholesale revenue increased 14.4%, benefiting from higher transit voice traffic. Omantel’s regional footprint and extensive cable infrastructure strengthens its leadership position in the MENA wholesale market.

Capital Expenditure:

Omantel invested 19.3 million in capital expenditure during the first quarter of 2026, primarily directed towards 5G network deployment and the expansion of digital infrastructure. Omantel remains focused on disciplined, growth-oriented investment for the remainder of the year, prioritizing critical projects that advance 5G rollout, scale ICT capabilities, and accelerate digital transformation across the business