Financial Results : Etihad Atheeb posts SAR 62 mln losses in 9M 2019/20

Etihad Atheeb posts SAR 62 mln losses in 9M 2019/20

29/01/2020 Argaam Exclusive

View other reports

Etihad Atheeb Telecommunication Co. (GO) widened net losses after zakat and tax by 29.5% year-on-year (YoY) to SAR 62.5 million in the nine-month period ending on Dec. 31, 2019, on lower revenue and other income.

 

In addition, higher depreciation expenses and financing charges also weighed on the results.



Financials (M)

Item 9m 2018 9m 2019 Change‬
Revenues 317.39 261.22 (17.7 %)
Gross Income 103.35 132.81 28.5 %
Operating Income (70.31) (49.39) 29.7 %
Net Income (48.25) (62.49) (29.5 %)
Average Shares 29.62 29.62 -
EPS (Riyals) (1.63) (2.11) (29.5 %)

In the third quarter, the telecom operator cut net losses after zakat and tax by 23% YoY to SAR 9.8 million, thanks to a decline in the cost of services, as well as selling and marketing expenses.

 

When compared to the previous quarter, net losses shrank by 53%.



Current Quarter Comparison (M)

Compared With The
Item Q3 2018 Q3 2019 Change‬
Revenues 103.92 77.28 (25.6 %)
Gross Income 40.24 50.91 26.5 %
Operating Income (12.38) (4.84) 60.9 %
Net Income (12.71) (9.80) 22.9 %
Average Shares 29.62 29.62 -
EPS (Riyals) (0.43) (0.33) 22.9 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.