Ooredoo Oman [ORDS.OM] released its preliminary 4Q2015 figures with net profit of OMR9.2 million, up 10% Y-o-Y but down 10% Q-o-Q. This was below Bloomberg consensus by 25%. According to the release, earnings for the quarter were negatively impacted by i) OMR1.4 million provision for swapped out assets (OMR2.7 were also incurred last quarter) and ii) higher depreciation charge due to higher investment in network modernisation. Revenues for the quarter totaled OMR65.2 million (in line with consensus), rising by 8% Y-o-Y, almost unchanged Q-o-Q (+0.3%) and driven mostly by fixed and mobile data revenues, according to the release. Total number of mobile subscribers reached 2.72 million, up 7% Y-o-Y and 1% Q-o-Q while fixed line subscriptions rose 23% Y-o-Y and 6% Q-o-Q. 4Q2015 reported EBITDA was OMR33.2 million, up 14% Y-o-Y but down 7% Q-o-Q. This implies an EBITDA margin of 50.9%, up from 48.5% last year and 55.1% last quarter. (Company disclosure)