Mobily records SAR 2.1bn profits in 9M-24; revenues up 8.5% - Mubasher Info

ETIHAD ETISALAT
7020 2.69% 53.50 1.40

Riyadh – Mubasher: The net profits of Etihad Etisalat Company (Mobily) reached SAR 2.12 billion in the first nine months (9M) of 2024, higher by 43.13% than SAR 1.48 billion in 9M-23.

The group posted revenues amounting to SAR 13.50 billion as of 30 September 2024, marking an 8.45% year-on-year (YoY) rise from SAR 12.45 billion, according to the initial financial statements.

Earnings per share (EPS) climbed to SAR 2.76 in 9M-24 from SAR 1.93 in the year-ago period.

In the July-September 2024 period, Mobily managed to reduce its debt portfolio by SAR 2.10 billion.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 15.40% YoY to SAR 1.84 billion, with an EBITDA margin of 41%, compared to 38.80% in Q3-23.

Income Statements for Q3-24

In the third quarter (Q3) of 2024, Mobily recorded a 58.20% YoY leap in net profit to SAR 829 million, compared to SAR 524 million.

Revenues increased by 9.25% to SAR 4.49 billion in Q3-24 from SAR 4.11 billion a year earlier.

Quarter on quarter (QoQ), the Q3-24 net profits jumped by 25.41% from the SAR 661 million generated in Q2-24, while the revenues inched up by 0.76% from SAR 4.46 billion.

Source: Mubasher Source: {{details.article.source}}