Etihad Etisalat Co. (Mobily) reported a 46% leap in Q1 2023 net profit to SAR 465 million, from SAR 319 million in the year-earlier period.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 3,811.01 | 4,069.64 | 6.8 % |
| Gross Income | 2,237.58 | 2,269.95 | 1.4 % |
| Operating Income | 460.90 | 635.74 | 37.9 % |
| Net Income | 319.03 | 464.92 | 45.7 % |
| Average Shares | 770.00 | 770.00 | - |
| EPS (Riyals) | 0.41 | 0.60 | 45.7 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 4,180.04 | 4,069.64 | (2.6 %) |
| Gross Income | 2,510.24 | 2,269.95 | (9.6 %) |
| Operating Income | 829.26 | 635.74 | (23.3 %) |
| Net Income | 605.89 | 464.92 | (23.3 %) |
| Average Shares | 770.00 | 770.00 | - |
| EPS (Riyals) | 0.79 | 0.60 | (23.3 %) |
Mobily continued to grow its revenue to reach SAR 4.05 billion in Q1 2023, a 6.3% rise from SAR 3.81 billion in Q1 2022, on growth in business and consumer segments, with a healthy increase in the subscriber base.
Gross profit rose 3% in Q1 2023 to SAR 2.30 billion from SAR 2.23 billion in the year-earlier period, mainly due to better revenue.
Earnings before interest, tax, depreciation, and amortization (EBITDA) jumped 8% year-on-year (YoY) to SAR 1.55 billion in Q1 2023, pushing EBITDA margin higher to 38.3% from 37.7% in Q1 2022.
Operating profit leapt 36% YoY to SAR 627 million.
The first-quarter net profit dropped 23.3% from SAR 605.89 million in Q4 2022, as revenue decreased by 1.9% YoY. Gross profit fell 7.5% YoY to SAR 2.30 billion. EBITDA also decreased by 12.2% YoY to SAR 1.55 billion
Shareholders’ equity, no minority interest, increased to SAR 16.81 billion as of March 31, 2023, from SAR 15.60 billion a year earlier.
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