IssuerAnnouncementDetailsV2Portlet
Actions
Etihad Etisalat Co. (Mobily) announces its annual consolidated financial results for the year ended 31 December 2023
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 16,763 | 15,717 | 6.66 | ||
| Gross Profit (Loss) | 9,452 | 9,381 | 0.76 | ||
| Operational Profit (Loss) | 2,977 | 2,328 | 27.88 | ||
| Net profit (Loss) | 2,232 | 1,657 | 34.7 | ||
| Total Comprehensive Income | 2,150 | 1,817 | 18.33 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 17,623 | 16,359 | 7.73 | ||
| Profit (Loss) per Share | 2.9 | 2.15 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Mobily achieved the highest revenue in the past decade, reaching SAR 16,763 million in 2023, demonstrating a 6.66% increase compared to SAR 15,717 million in 2022. This is attributed to the growth across all revenue streams, with a healthy growth in the overall subscriber base. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Mobily recorded the highest net profit in the past decade, reaching SAR 2,232 million in 2023 compared to a net profit of SAR 1,657 million in 2022, increasing by 34.70%. This was driven mainly by the following: Gross profit: Gross profit witnessed an increase, reaching SAR 9,452 million in 2023 from SAR 9,381 million in 2022, reflecting the overall growth in revenues. Earnings before interest, tax, depreciation, and amortization (EBITDA): Mobily recorded an increase in the EBITDA by 7.22% to reach SAR 6,625 million in 2023, compared to SAR 6,179 million in the prior year. This increase is attributed to the Company's operational efficiency as well as the positive impact of a contingent liability reversal amounting to SAR 202 million. EBITDA margin increased to 39.5% in 2023 versus 39.3% in 2022. Operating profit: Operational profit rose by 27.88% in 2023, reaching SAR 2,977 million compared to SAR 2,328 million in 2022 as a result of the growth of EBITDA. Financial charges and Zakat and income tax: Financial charges incurred a 13.69% increase in 2023, reaching SAR 690 million compared to SAR 607 million in the previous year. Zakat and income tax amounted to SAR 217 million in 2023, compared to SAR 122 million in 2022. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | The consolidated financial statements for the year ended December 31, 2022 were audited by another auditor who expressed an unmodified opinion on those consolidated financial statements on February 23, 2023 corresponding to 03/08/1444H. |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the current period’s presentation. |
| Additional Information | CAPEX: CAPEX increased by 10.8% in 2023, reaching SAR 2,318 million compared to SAR 2,093 million for 2022. EBITDA-CAPEX increased to reach SAR 4,307 million in 2023, making an 5.40% increase from SAR 4,086 million in the previous year. The financial statements for the year ended December 31, 2023, will be available through Mobily’s Investor Relations Website and Mobily’s IR App on smartphones and tablets, after being published on the Saudi Exchange website. |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
Share
Company Performance
Key Parameters
Last Price 51.3
Net Change 0.1 (+0.2%)
Value Traded (Sar) 67,147,102.6
Volume Traded 1,321,744
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions