The financial statements of Etihad Etisalat Company (Mobily) revealed that the company’s profits increased by the end of 2022 by an estimated rate of 54.6% on an annual basis, to reach 1.657 billion riyals, with a profit of 2.15 riyals per share, compared to 1.072 billion riyals, the company’s profits in 2021, with a profit of 1.39 riyals per share. Arrow.
(Mobily) said in a statement to the Saudi market (Tadawul), today, Monday, that the increase in profits during the comparison years is mainly due to the increase in the company’s revenues by 5.6% to 15.669 billion riyals compared to 14.834 billion riyals in 2021, and this growth is due to all sectors. The company, in addition to the growth of the customer base.
The operating profits of (Mobily) during the fiscal year 2022 improved by 39.7% to reach 2.31 billion riyals, compared to operating profits of 1.654 billion riyals in the previous year, due to the improvement in profit before depreciation, amortization, Islamic Murabaha costs and zakat (EBITDA).
On the other hand, financing expenses for (Mobily) increased last year by 20.2% to reach 607 million riyals, compared to 505 million riyals in 2021, as a result of the increase in the interest rate. Zakat expense for the past year amounted to 122 million riyals, compared to 79 million riyals in the previous year.
Mobily was able to raise operating cash flows (profit before depreciation, amortization, Islamic Murabaha costs and Zakat - capital expenditures) by the end of fiscal year 2022 to reach 4.067 billion riyals compared to 3.489 billion riyals for the previous year, an improvement of 16.6%.
In its meeting that was held yesterday, the Board of Directors of (Mobily) recommended distributing cash dividends to shareholders for the past year, at a rate of 11.5%, at 1.15 riyals per share, with a distribution value of 885.5 million riyals, noting that the eligibility for cash dividends will be for shareholders who own shares on the due date and are registered in the register. The company's shareholders are with the Securities Depository Center Company (Edaa) at the end of the second trading day following the day of the company's General Assembly, which will be announced later.
