Saudi: Mobily’s profits leap 54.5% in 2022

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Etihad Etisalat Company (Mobily) registered SAR 1.65 billion in net profit after Zakat and tax in 2022, a hike of 54.57% from SAR 1.07 billion in 2021.

Revenues increased by 5.63% year-on-year (YoY) to SAR 15.66 billion in the January-December 2022 period, compared to SAR 14.83 billion, according to the annual financial results.

The earnings per share (EPS) stood at SAR 2.15 as of 31 December 2022, versus SAR 1.39 in 2021.

Dividends

The board of Mobily suggested cash dividends worth SAR 885.50 million, equivalent to 11.50% of the company's capital, for 2022.

Under the board’s proposal that was made on 19 February 2023, the Saudi firm would disburse SAR 1.15 per share for 770 million eligible shares.

Meanwhile, the distribution date for the dividends will be announced at a later time after receiving the approval of the shareholders.

In the first nine months (9M) of 2022, Mobily recorded net profits after Zakat and tax worth SAR 1.05 billion, an annual leap of 39.95% from SAR 751 million.