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.
| 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%.
| 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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