Etihad Etisalat Co. (Mobily) reported a net profit after Zakat and tax of SAR 130 million for the first quarter of 2020, a rise of 93% year-on-year (YoY), thanks to a 12.5% growth YoY in Q1 2020 revenue to SAR 3.6 billion.
The first-quarter performance was also buoyed by continued growth of the subscriber base and its improved mix, the growth in business unit and wholesale revenues, and the growth of FTTH active base.
Financial charges declined to SAR 162 million in Q1 2020, from SAR 212 million a year earlier. Meanwhile, Zakat expenses rose to SAR 14 million compared to SAR 9 million in Q1 2019.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 3,200.96 | 3,599.62 | 12.5 % |
| Gross Income | 1,838.71 | 2,065.40 | 12.3 % |
| Operating Income | 270.32 | 339.05 | 25.4 % |
| Net Income | 67.25 | 130.28 | 93.7 % |
| Average Shares | 770.00 | 770.00 | - |
| EPS (Riyals) | 0.09 | 0.17 | 93.7 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 3,514.39 | 3,599.62 | 2.4 % |
| Gross Income | 1,989.62 | 2,065.40 | 3.8 % |
| Operating Income | 178.11 | 339.05 | 90.4 % |
| Net Income | (124.89) | 130.28 | 204.3 % |
| Average Shares | 770.00 | 770.00 | - |
| EPS (Riyals) | (0.16) | 0.17 | 204.3 % |
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