Mobily eyes revenue growth, up to 38% EBITDA margin: Acting CFO

Ibrahim Al Tukhaifi, CFO of Etihad Etisalat Co. (Mobily)

Etihad Etisalat Co. (Mobily) is among a handful of Saudi companies providing annual financial guidance, with an eye to achieve single-digit revenue growth and an EBITDA margin of 37-38% in Q3 2025, Acting CFO Ibrahim Al Tukhaifi said.

In an interview with Argaam, Al Tukhaifi said Mobily aims to maintain a net debt-to-EBITDA ratio of 1x and keep capital expenditure at 16-18% of revenue.

The H1 2025 results, according to the executive, reflected solid progress towards these targets, underpinning long-term value creation for shareholders and stakeholders alike.

He explained that Mobily delivered solid financial and operational results in Q2 2025. The three-month earnings growth was driven by increased revenues across all business divisions, paired with ongoing efficiency gains that supported EBITDA.

Several other profitability metrics were lifted by Mobily’s second-quarter topline growth, including gross profit and EBITDA which rose on an annual basis by 10.3% and 10.5%, respectively.

This came as the corporate segment witnessed the operation of a number of new data centers. Additionally, the consumer segment capitalized on the launch of loyalty programs and strategic partnerships.

Elsewhere, the carrier segment contributed by delivering tailored digital solutions to businesses and cloud service providers, Al Tukhaifi added.

He pointed out that Mobily’s mobile subscriber base reached 12.8 million by the end of Q2 2025, marking a 5% year-on-year (YoY) increase.

Nonetheless, during the same quarter, fiber subscribers totaled 289,000, supported by expanded service offerings and improved support channels, the executive further stated, noting that the company has maintained a strong EBITDA margin over the past five years.

According to Al Tukhaifi, Mobily’s long-term investment strategy focuses on digital transformation and infrastructure upgrades, including 5G, IoT, data centers, and subsea cables.

During the three-month period, Mobily launched the first submarine cable linking Saudi Arabia and Egypt through the Red Sea, paving the way for expanded digital connectivity between Asia, Africa, and Europe.

Mobily, in addition, secured new spectrum licenses to enhance network quality and capacity.

Al Tukhaifi explained that more infrastructure investments are eyed as the company maintains a healthy capital structure and delivers strong returns. This should bolster expansion plans, while also strengthening the customer base in an efficient and sustainable manner.

Mobily’s H1 2025 net profit rose 23% to SAR 1.60 billion, from SAR 1.30 billion a year earlier. The second-quarter earnings advanced by 26% YoY to SAR 830 million, according to Argaam’s data.