Mobily H1 2026 Capex up 30% ex. spectrum deal: CEO

Nezar Banabeela, CEO of Etihad Etisalat Co. (Mobily)

Etihad Etisalat Co. (Mobily) CEO Nezar Banabeela said the company posted growth across all its segments during the second quarter of 2026, noting that its cash dividend distributions increased for the last three consecutive periods year-on-year, while dividends for the first half of 2026 rose by 17% YoY.
In an interview with CNBC Arabia, the top executive explained that the decline in capital expenditures to SAR 1.3 billion during H1 2026, compared to SAR 2.7 billion in the same period last year, was due to a one-off investment in spectrum worth SAR 1.7 billion that was recorded as a capital expenditure last year. He emphasized that, excluding this item, spending on capital projects increased by approximately 30% compared to the same period last year.
"In the retail segment, we focused on leveraging our customer database and improving the services provided to customers, while in the business segment, we expanded the scope of advanced ITC services, which contributed to growth across all segments, including operator outlets," he added.
The CEO also noted that cash flow from operating activities amounted to approximately SAR 3 billion, while free cash flow reached SAR 2.7 billion, and the company’s net debt stood at about SAR 7 billion.
Regarding dividend distributions for H2 2026, Nezar Banabeela said Mobily seeks to strike a balance between financing its future investments and rewarding its shareholders, emphasizing that the distributions will be announced on schedule.
According to data available with Argaam, Mobily’s profit rose to SAR 1.781 billion by the end of H1. 2026, a 12% increase compared to SAR 1.597 billion during the same period in 2025. Q2 net profit amounted to SAR 901 million.

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