Etihad Etisalat Co. (Mobily) reported a net profit after Zakat and tax of SAR 1.051 billion for the first nine months of 2022, a jump of 40% from SAR 751 million in the year-earlier period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 10,936.64 | 11,537.37 | 5.5 % |
| Gross Income | 6,404.72 | 6,871.10 | 7.3 % |
| Operating Income | 1,167.50 | 1,498.75 | 28.4 % |
| Net Income | 750.72 | 1,051.05 | 40.0 % |
| Average Shares | 770.00 | 770.00 | - |
| EPS (Riyals) | 0.97 | 1.37 | 40.0 % |
The improved results were attributed to higher revenues, gross profit and EBITDA. In addition, EBITDA margin increased to 38.3% in the nine-month period, compared with 37.5% a year earlier.
Operating profit also grew by 29.25% YoY from SAR 1.176 billion to reach SAR 1.520 billion.
Financial charges increased by 11.95% during the period, while Zakat expense amounted to SAR 76 million, compared to SAR 56 million a year before.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 3,606.12 | 3,827.61 | 6.1 % |
| Gross Income | 2,186.11 | 2,300.40 | 5.2 % |
| Operating Income | 427.23 | 524.85 | 22.8 % |
| Net Income | 281.05 | 372.52 | 32.5 % |
| Average Shares | 770.00 | 770.00 | - |
| EPS (Riyals) | 0.37 | 0.48 | 32.5 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 3,898.75 | 3,827.61 | (1.8 %) |
| Gross Income | 2,333.12 | 2,300.40 | (1.4 %) |
| Operating Income | 513.01 | 524.85 | 2.3 % |
| Net Income | 359.50 | 372.52 | 3.6 % |
| Average Shares | 770.00 | 770.00 | - |
| EPS (Riyals) | 0.47 | 0.48 | 3.6 % |
The third-quarter net profit climbed 33% to SAR 373 million, from SAR 281.05 million in Q3 2021. The profit growth was driven by higher revenues, gross profit and EBITDA. In addition, EBITDA margin increased to 38.8% in Q3 2022, compared with 38.5% in Q3 2021.
Compared to Q2 2022, net profit grew by 3.8% from SAR 359.50 million.
Shareholders’ equity, after minority interest, rose to SAR 15.709 billion as of Sept. 30, 2022, from SAR 14.825 billion a year earlier.
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