Mobily posts twofold rise in H1 2020 net profit to SAR 315 mln

20/07/2020 Argaam Exclusive

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Etihad Etisalat Co. (Mobily) reported a net profit after Zakat and tax of SAR 315 million for H1 2020, compared to a net profit of SAR 105 million a year earlier, driven by a 9.6% year-on-year (YoY) revenue growth.

Gross profit, EBITDA and operating profit also saw an increase, while financial charges dropped to SAR 300 million from SAR 429 million in H1 2019.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	6,531.88	7,158.40	9.6 %
Gross Income	3,795.01	4,127.39	8.8 %
Operating Income	601.32	712.01	18.4 %
Net Income	105.02	315.45	200.4 %
Average Shares	770.00	770.00	-
EPS (Riyals)	0.14	0.41	200.4 %

The second quarter net profit after Zakat and tax more than quadrupled to SAR 185 million, compared to a net profit of SAR 37.8 million in Q2 2019. The results were backed by increased revenue from business and wholesale units, as well as the FTTH active base.

When compared to the previous quarter, the telecom operator’s net profit jumped by 42.3%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	3,330.92	3,558.78	6.8 %
Gross Income	1,956.30	2,061.99	5.4 %
Operating Income	331.00	372.97	12.7 %
Net Income	37.77	185.17	390.2 %
Average Shares	770.00	770.00	-
EPS (Riyals)	0.05	0.24	390.2 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	3,599.62	3,558.78	(1.1 %)
Gross Income	2,065.40	2,061.99	(0.2 %)
Operating Income	339.05	372.97	10.0 %
Net Income	130.28	185.17	42.1 %
Average Shares	770.00	770.00	-
EPS (Riyals)	0.17	0.24	42.1 %

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