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Etihad Atheeb Telecommunication Co. (GO Telecom) announces its consolidated Interim Financial results for the Period Ending on 30-06-2025 (Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 435 | 310 | 40.322 | 423 | 2.836 |
| Gross Profit (Loss) | 120 | 88 | 36.363 | 129 | -6.976 |
| Operational Profit (Loss) | 69 | 52 | 32.692 | 63 | 9.523 |
| Net profit (Loss) | 62 | 47 | 31.914 | 59 | 5.084 |
| Total Comprehensive Income | 62 | 47 | 31.914 | 57 | 8.771 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 827 | 606 | 36.468 |
| Profit (Loss) per Share | 1.81 | 1.37 | |
| 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 quarter compared to the same quarter of the last year is | The Group continued to achieve growth in total revenue by 40% amounting to SAR 125m for the current quarter compared to the same quarter of the last year. This is primarily attributed to the implementation of the growth Group’s strategy and the following factors: - An increase in Enterprise Segment revenue by 42% amounting to SAR 67, mainly due to higher sales resulting from the execution of projects with government entities and private sector companies. - An increase in Wholesale Segment revenue by 66% amounting to SAR 67m, driven by growth in revenue from voice interconnection and fiber optic services. - Recognition of revenue from the subsidiary (Ejad Technology) for the current quarter, amounting to SAR 33m. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The Group achieved a net profit of SAR 62m, compared to SAR 47m in the same quarter of the last year. This is due to the following factors: - An increase in revenue by SAR 125m, offset by a rise in cost of revenue by SAR 93m, an increase in expected credit losses on trade receivables by SAR 3.6m, and a rise in general and administrative expenses by SAR 15m, in addition increase in other income by SAR 2.9m. - A decrease in financing costs by SAR 5m compared to the same quarter of the last year due to recognition of commission income on Islamic deposits during the current quarter, amounting to SAR 7m. - The Group recorded the costs and expenses of its subsidiary (Ejad Technology) during the current quarter, amounting to SAR 20m, in addition to recognizing net profit from Ejad Technology of SAR 13 m, for the current quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The Group continued its total revenue growth 3% amounted to 12M SAR for the current quarter, compared to the previous one, and this is mainly due to the increase in the revenues from the business sector unit and the Wholesale unit, and recording subsidiary revenue (Ejad Tech) for the current quarter amounted to SAR 28.8m. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The Group achieved a net income amounted SAR 62m during the current quarter, compared to the previous one amounted to SAR 59m, mainly due to the following reasons: - An increase in revenue by SAR 12m, offset by a rise in cost of revenue by SAR 21m, In addition to business unit projects execution, which is expected to enhance positive on future revenue and income growth. - An increase in expected credit losses on trade receivables by SAR 8m and an increase in other income by SAR 1m. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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) | N/A |
| Reclassification of Comparison Items | N/A |
| Additional Information | The Earnings Before Interest, Taxes, Zakat, Depreciation, and Amortization (EBITDA) for the current quarter amounted to SAR 87m, compared to SAR 66m for the same quarter of the last year, representing an increase of 32%. Regarding Ejad Technology, the group is still working on finalizing the Purchase Price Allocation (PPA) process and its impact, if any, which will be reflected one year from the date of acquisition, December 11, 2024. Based on the IFRS. |
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.
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