According to Arabiya Net, the company explained today, Thursday, that this is mainly due to the continued increase in revenues in the first quarter of 2022, which amounted to 3.811 billion riyals, compared to 3.603 billion riyals in the same quarter of the previous year, an increase of 5.8%, mainly due to Growth in business, retail and wholesale sales, in addition to the growth of the customer base.
She added that the total profit rose by 8% to reach 2.238 billion riyals in the first quarter of this year, compared to 2.072 billion riyals for the same quarter of 2021, mainly due to the improvement in revenues.
Mobily achieved an increase in profit before depreciation, amortization, Islamic Murabaha costs and Zakat (EBITDA) to reach 1.445 billion riyals in the first quarter of 2022, compared to 1.365 billion riyals for the same quarter of the previous year, an increase of 5.9%.
This improvement is due to the increase in revenues and the company's efficiency in managing its operations.
Mobily maintained its EBITDA margin of 37.9% before deducting depreciation, amortization, Islamic Murabaha and Zakat in the first quarter of 2022.
Operating profits improved during the first quarter of this year by 26.7% to reach 468 million Saudi riyals, compared to operating profits of 369 million riyals in the same quarter of last year, due to the improvement in profit before deduction of depreciation and amortization and Islamic Murabaha and Zakat (EBITDA) costs.
Finance expenses for the first quarter of 2022 decreased to reach 125 million riyals, compared to 126 million riyals for the same quarter of the previous year, with a decrease of 1.2%.
