Financial Results : GO widens six-month losses by 48%

GO widens six-month losses by 48%

29/01/2020 Argaam Exclusive

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Etihad Atheeb Telecommunication Co. (GO) widened net losses by 48.3% year-on-year (YoY) to SAR 52.69 million for the six-month period ending on Sept. 30, 2019, due to lower revenue and higher depreciation and amortization expenses.

 

The telecom operator widened Q2-2019/2020 net losses by 52.4% YoY to 20.83 million, driven by higher depreciation and amortization expenses, and lower revenue.



Financials (M)

Item 6m 2018 6m 2019 Change‬
Revenues 213.48 183.93 (13.8 %)
Gross Income 63.11 81.91 29.8 %
Operating Income (57.92) (44.55) 23.1 %
Net Income (35.54) (52.69) (48.3 %)
Average Shares 29.62 29.62 -
EPS (Riyals) (1.20) (1.78) (48.3 %)

When compared to the previous quarter, net losses shrank 34.6%.



Current Quarter Comparison (M)

Compared With The
Item Q2 2018 Q2 2019 Change‬
Revenues 108.81 86.84 (20.2 %)
Gross Income 30.68 42.23 37.6 %
Operating Income (25.02) (18.60) 25.6 %
Net Income (13.67) (20.83) (52.4 %)
Average Shares 29.62 29.62 -
EPS (Riyals) (0.46) (0.70) (52.4 %)

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