Regarding future growth opportunities, Mobily Chairman said that the company would focus on data, particularly the growing broadband services, which are witnessing rapid changes in technologies, indicating that flexibility and speed to keep up with these variables will be one of the most important factors of success. Therefore, he continued, Mobily will continue its capital expenditure on networks development, pointing that technical tests on 4G (LTE) have been completed, adding that prior tests had been conducted to double the speed of the Evolved High-Speed Packet Access (HSPA+) to 42 Mbit/second in the major areas of Kingdom, as a first phase to an expanded launch across the Kingdom. The Chairman highlighted the importance of Mobilys Saudi National Fiber Network (SNFN) role, as the network extends now in major cities of the Kingdom with lengths up to about 20 thousand kilometers, as it is necessary to reach the network towers or base stations, adding that broadband coverage percentage reached 92% of the populated areas in more than 587 sites, including villages, towns, cities, governorates, regions, as well as highways. AlSaghyir also said that Mobilys participation in the integrated regional cable projects will bring about revenues from other operators and enhance the quality of services. On the other hand, he added, the growth of telecommunications sector will continue due to: increasing demand for data services supported by growing population number, strong government support for investment in IT field and focus on education sector, young nature of population structure in Saudi Arabia, widespread of smart phones and youth pursuit of modern technologies such as Tablets and others devices. He indicated that Mobilys smart phones users ARPU is 2 times that of feature phones users. The Chairman emphasized Mobilys solid financial position, pointing that its Net Debt amounted to SAR 5.86 billion at the end of 2010, and that the increase in EBITDA accompanied with the decrease in Net Debt have led to a decline in Net Debt/EBITDA ratio to 0.95 times. He went on to say that the strong cash flow of the company will enable it to achieve balance between continuous growth and distribution of dividends in the future. The Chairman concluded by commending the great efforts of the companys human resources, reiterating that Mobily staff are the key to its success and that they are its real wealth.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.