Etihad Etisalat Co. (Mobily) reported a 37% leap in Q1 2024 net profit to SAR 638 million, from SAR 465 million in the year-earlier period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 4,069.64 | 4,545.48 | 11.7 % |
| Gross Income | 2,269.95 | 2,444.96 | 7.7 % |
| Operating Income | 635.74 | 753.22 | 18.5 % |
| Net Income | 464.92 | 637.77 | 37.2 % |
| Average Shares | 770.00 | 770.00 | - |
| EPS (Riyals) | 0.60 | 0.83 | 37.2 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 4,306.00 | 4,545.48 | 5.6 % |
| Gross Income | 2,265.00 | 2,444.96 | 7.9 % |
| Operating Income | 983.00 | 753.22 | (23.4 %) |
| Net Income | 746.00 | 637.77 | (14.5 %) |
| Average Shares | 770.00 | 770.00 | - |
| EPS (Riyals) | 0.97 | 0.83 | (14.5 %) |
Mobily's revenue continued to grow, reaching SAR 4.54 billion in Q1 2024, a 11.7% rise from SAR 4.07 billion in Q1 2023. This was attributed to the increase of all revenue streams, coupled with healthy growth in the overall subscriber base.
In addition, the telco posted a 7.7% year-on-year (YoY) increase in gross profit to SAR 2.44 billion in Q1 2024 from SAR 2.27 billion.
Earnings before interest, tax, depreciation, and amortization (EBITDA) grew by 5.7% YoY from 1.56 billion to SAR 1.65 billion. EBITDA margin reached 36.3% in Q1 2024 versus 38.4% in Q1 2023.
Operating profit rose by 18.4% YoY to SAR 753 million from SAR 636 million a year before.
Financial charges decreased by 3.1% to SAR 167 million from SAR 172 million in Q1 2023, due to the reduction of the debt portfolio. Zakat and income tax amounted to SAR 35 million compared with SAR 42 million a year before.
The first-quarter net profit dropped 14.5% from SAR 746 million in Q4 2023.
Shareholders’ equity, no minority interest, increased to SAR 18.26 billion as of March 31, 2024, from SAR 16.81 billion a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}