Etihad Etisalat (Mobily) announced the interim consolidated financial results for the nine month period ended September 30, 2010, in which the net profit for Q3 amounted to SAR 1,138 million against SAR 807 million for the same quarter of last year, presenting a growth of 41% and compared to a net profit of SAR 901 million for Q2 2010.
Net profit for the first nine months of the year amounted to SAR 2,753 million as compared to SAR 1,962 million for the same period of last year, presenting a growth of 40%.
Revenues for Q3 2010 amounted to SAR 3,989 million as compared to SAR 3,511 million for the same period of last year, and compared to SAR 3,972 million for Q2 2010.
Revenues for the first nine months of the year amounted to SAR 11,542 million as compared to SAR 9,521 million for the same period of last year, presenting a growth of 21%.
Operating profit for Q3 2010 amounted to SAR 1,187 as compared to SAR 862 million for the same quarter of last year, presenting a growth of 38%.
Earnings per share (EPS) for the first nine months of the year amounted to SAR 3.93 as compared to SAR 2.80 for the same period of last year.
The EBIDTA margin for Q3 2010 amounted to 41.3% as compared to 36.4% for the same period of last year, and compared to 34.9% for Q2 2010.
A growing contribution from higher margin broadband revenues, lower international interconnection costs as a result of carefully designed promotional activities and lower direct costs associates with other services revenues were mainly behind the growth in Q3 net profit.
Mobily's chairman Eng. Abdulaziz Alsaghyir said: "With a strong balance sheet, Mobily can afford to continue to invest in the expansion of its mobile and fixed broadband networks, thereby meeting the needs of increasing capacities, and continuing to grow. We expect data's contribution to Mobily's revenues to continue to grow and surpass 20% in 2011. Mobily covers more than 92% of all populated areas with broadband reaching 587 cities, towns, areas and highways, among them major tourist destinations in the Kingdom."
The chairman added that Mobily won a contract from the Communication and Information Technology Commission (CITC) under the umbrella of the Universal Service Fund to provide voice and broadband services to residents of the governorates of Khulais and Al Kamel in the Makkah Region, and governorate of Mahd Al Dahab in the Madina Region.
The chairman continued: "Mobily is preparing for the Hajj season and our accumulated experience in this field will allow us to provide distinguished performance. Last year, Mobily had a large share of the Hajj pilgrim market."
Eng. Alsaghyir said the company had launched the iPhone 4 with different bundles to meet the needs of current customers and to attract new ones, and that demand for the device had exceeded expectations. Among other products the company plans on launching is the Digital Kiosk, the first of its kind in the Kingdom and the Middle East region. The Digital Kiosk has a large library of digital content stored, which can be downloaded to a variety of devices and smart phones, with the option of allowing customers to view segments of the content before deciding to buy it.
-Ends-
For further information, please contact
Tamer Abbas
Senior Account Executive
Corp. Communication Dept.
P.O.Box 69179 Riyadh 11423
Kingdom of Saudi Arabia
Tel: +966 5 6 031 2681
Fax: +966 5 6 031 6606
Mobile:+966 56 846 6450
e.mail: t.abbas.sst@mobily.com.sa
© Press Release 2010
