Etihad Etisalat (Mobily) announces the consolidated financial results FOR 1Q 2012 (Three-month period)
1.Net income for 1Q 2012 amounted to SAR 1,207 million, as compared to SAR 998 million for the same period last year, with a growth of 21% and a decline of 29% over 4Q 2011 results of SAR 1,697 million.
2.Gross profit for 1Q 2012 amounted to SAR 2,613 million, as compared to SAR 2,289 million for the same period last year, with a growth of 14%.
3.Operating income for 1Q 2012 amounted to SAR 1,254 million, as compared to SAR 1,054 million for the same period last year, with a growth of 19%.
4.Earnings per share (EPS) for the 3-month period amounted to SAR 1.72, as compared to SAR 1.43 for the same period last year.
It should be noted that the results of the last quarter of the year are usually better than those of the first quarter of the year, as the fourth quarter coincides with the Hajj season and other year-end events. Thus, for the sake of a fair comparison, showing the evolution of the Companys financial performance, the results of the first quarter of 2012 should be compared with the same quarter of the previous year.
The revenue of the first quarter of this year amounted to SAR 5,009 million against SAR 4,484 million for the same quarter last year; an increase of 12%. The increase in revenue is attributable to the higher revenue from voice services with the increase in the number of minutes of use, the continued increase in the number of postpaid subscribers and the increase in business sector revenue. Data revenue recorded an increase of 28% during the first quarter of this year compared to the corresponding period of the previous year (23% of the total revenue of the first quarter of the current year against 20% for the same period of the previous year). The EBITDA margin amounted during the first quarter of this year to 36% compared to 35% for the same quarter last year.
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