Saudi telecom operator, Etihad Etisalat (Mobily) strives to pursue its investments in infrastructure projects and continuously improve its services, CNBC Arabia has reported, citing chief executive officer, Salman Abdulaziz AlBadran.
AlBadran said that Mobily also aims to boost its operating efficiency, which will pave the way for achieving positive results by year-end.
He added that Q2 2019 positive financial statements show that the company’s strategy which was mapped out over the past years proved to be successful.
He further explained that the mobile operator is witnessing higher customer satisfaction rates and appetite for additional services, more specifically from businesses, companies, governmental sectors and retails, in line with Saudi Vision 2030.
“Mobily has SAR 11.28 billion in debts,” AlBadran said, adding that the telco adopts a deleveraging strategy.
“I expect Mobily will maintain profitability, as the company will likely incur lower expenses over the coming two quarters,” the CEO told Al Arabiya TV in another interview.
AlBadran added that Mobily’s Q2 2019 financial results missed analysts’ forecasts due to the seasonality factors, and the related marketing expenses.
“The towers’ sale is an under-study option, and we currently have no purchase bids at hand,” he stated.
Mobily reported net profit after zakat and tax of SAR 105.02 million in H1 2019, versus net losses of SAR 172.03 million in year-earlier period. It also posted net profit after zakat and tax of SAR 37.77 million in Q2 2019, versus net losses at SAR 78.63 million in year-earlier period, Argaam previously reported.
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