Mobily reports flat revenues in 1H18

24 Jul 2018

Saudi Arabian mobile operator Etihad Etisalat (Mobily) has published its financial results for the six months ended 30 June 2018, reporting flat revenues of SAR5.727 billion (USD1.5 billion). EBITDA increased 15% year-on-year to SAR2.103 billion in 1H18, while interest and financial charges increased from SAR357 million to SAR380 million in the period under review. Operational profit amounted to SAR228 million in 1H18, up from the SAR30 million reported in the year-ago period, while net income narrowed to a loss of SAR172 million in the six months ended 30 June 2018, compared to a net loss of SAR353 million in 1H17.

Mobily highlighted that its CAPEX nearly doubled to SAR1.358 billion during the first six months of 2018, compared to SAR792 million in H1 2017, due to the continuation of its network modernisation project, which got underway in Q4 2017, and the acquisition of new spectrum in Q1 2018.

Saudi Arabia, Mobily (Etihad Etisalat)