|20 October, 2019

Mobily's operational efficiency sustains it's profitably to maintain the track of continuous revenue growth for the eighth quarter in a row

Riyadh : Mobily continued to grow its revenues for the eighth consecutive quarter to reach SAR 3.4 billion in Q3 2019, with a YoY growth of 14.4%. This is mainly attributed to the growth of subscribers’ base, the growth of revenues of business, and wholesale units and the growth of FTTH active base.

In addition, the company continued delivering positive net results for the fourth consecutive quarter, as Q3 2019 net result highlighted a YoY growth by 82 million to reach SAR 51 million compared to a loss of SAR 31 million in Q3 2018, and a QoQ improvement by 13 million compared to a profit of 38 million in Q2 2019. This is mainly due to improvement of topline and operational performance, and to the strong and healthy EBITDA.

Moreover, Mobily succeeded in increasing its EBITDA to reach SAR 1,277 million in Q3 2019, with YoY increase of 17.4%. The EBITDA increase is attributed to the growth of revenues, the improvement in operational performance, and the implementation of IFRS16.

CAPEX in 9M 2019 decreased to reach SAR 1,464 million due to capitalization of spectrum. Excluding the spectrum fees, CAPEX intensity reflects the company's continuous commitment to improve its infrastructure and continue to develop its services, and improve the quality of services and customer experience.

Moreover, Mobily substantially improved its 9M 2019 operational cash flow (EBITDA-CAPEX) by 114% to reach SAR 2,307 million; contributing to the company's ability to deleverage its debt levels and meet its obligations to its creditors and suppliers.





© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases