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Imagine to Life

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Introduction to the report
Overview
Sustainability Outlook
Business Context and Strategy
Corporate Governance
Financial Statements
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Annual Report 2024

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Introduction to the Report
Introduction to the Report

Imagine to Life

Omantel’s digital transformation brings imagination to life; empowering businesses, communities, and individuals through cutting-edge connectivity, AI-driven innovation, and next-generation solutions. From seamless cloud integration to ultra-fast 5G networks, we are building a smarter, digitally connected Oman, one where technology and human potential converge to shape the future, today.

Scope and Purpose

This Annual Report provides a comprehensive overview of Omantel’s financial, operational, and strategic performance for the fiscal year ending 31 December 2024. It highlights the Company’s commitment to delivering sustainable growth, innovation, and value creation for stakeholders, while maintaining transparency in governance and corporate responsibility.

Reporting Framework

This report is prepared in accordance with the International Financial Reporting Standards (IFRS) Global Icon and complies with the disclosure requirements of the Financial Service Authority (FSA) of Oman. It also aligns with the Global Reporting Initiative (GRI) Global Icon standards for sustainability reporting, ensuring comprehensive and transparent communication of Omantel’s environmental, social, and governance (ESG) performance.

Reporting Journey

In line with our commitment to enhancing transparency, and corporate governance, this Annual Report incorporates expanded disclosures, improved stakeholder engagement, and a more integrated approach to financial and non-financial reporting, and follows guidelines set by international best practices. This report incorporates the below:

  • Strengthened alignment with international reporting standards, including IFRS and GRI
  • Information related to Omantel’s alignment with Oman Vision 2040
  • Enhanced climate and sustainability disclosures
  • Greater integration of financial and non-financial performance metrics
  • Integrated Reporting Approach

Financial and Non-Financial Disclosures

This Report presents:

  • Financial Performance: Detailed insights into Omantel’s revenue, profitability, capital expenditures, and shareholder returns.
  • Strategic Growth Initiatives: Key investments in digital infrastructure, emerging technologies, and international expansion.
  • Risk Management and Governance: Frameworks implemented to mitigate financial, operational, and cybersecurity risks.
  • Sustainability Commitments: Initiatives aligned with Oman Vision 2040, including climate action, digital inclusion, and responsible business practices.

Reporting Boundaries

The financial and operational data presented covers Omantel’s domestic and international operations, including subsidiary performance, market expansion, and strategic collaborations.

Forward-Looking Statements

This report contains forward-looking statements based on Omantel’s strategic direction, industry trends, and market opportunities. While these statements reflect management’s expectations, they are subject to risks and uncertainties that may impact actual outcomes.

Accessibility and Digital Features

The Annual Report 2024 is available for stakeholders in multiple digital mediums to explore interactive features, including data visualisations and multimedia elements.

For further inquiries or feedback regarding this report, please contact the Investor Relations Team Mail Icon Investor@omantel.om

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