Mobily revenues up for seventh quarter in a row

This is mainly attributed to the growth of revenues of business and wholesale units and the continued growth and better mix of subscribers’ base.

In addition, the company continued delivering positive net results for the third consecutive quarter, as net results in the second quarter of 2019 reached SR37.77 million compared to a loss of SR78.62 million in the second quarter of 2018 while quarter-on-quarter comparison shows a decrease by 48.8 percent.

This is mainly due to the increase in selling and marketing expenses caused by the seasonality of the second quarter of 2019, which included the month of Ramadan, as well as the first quarter of 2019, which contained an improvement in the collection of government fees for the business and wholesale units that led to reversing related provisions and improving the profitably of the first quarter of 2019. Mobily succeeded in increasing its EBITDA to reach SR1,221 million in the second quarter of 2019, with year-on-year increase of 14.5 percent.

The EBITDA increase is attributed to the growth of revenues and the improvement in operational performance.

Capex in the first half of 2019 reached SR1,126 million — reflecting the company’s continuous commitment to invest in its infrastructure and continue to develop its services.

In addition, Mobily substantially improved its by 83.7 percent to reach SR1,368 million — contributing to the company’s ability to deleverage its debt levels and meet its obligations to its creditors.