Etihad Etisalat Co. (Mobily) announces its annual consolidated financial results for the year ended 31 December 2021
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 14,834 | 14,046 | 5.61 | ||
| Gross Profit (Loss) | 8,672 | 8,152 | 6.378 | ||
| Operational Profit (Loss) | 1,668 | 1,367 | 22.019 | ||
| Net Profit (Loss) after Zakat and Tax | 1,072 | 783 | 36.909 | ||
| Total Comprehensive Income | 1,136 | 694 | 63.688 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 15,196 | 14,445 | 5.199 | ||
| Profit (Loss) per Share | 1.39 | 1.02 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Mobily achieved a net profit of SAR 1,072 million for the year 2021, a 36.8% increase from SAR 783 million in 2020, due to the following: |
Revenues
Mobily’s revenues amounted to SAR 14,834 million in 2021, a 5.6% YoY growth from SAR 14,046 million last year. The increase in Mobily’s revenues was mainly driven by growth in the Business and Consumer segments, in addition to growth in the subscriber base.
Gross Profit
Gross profit increased by 6.4% YoY in 2021, reaching SAR 8,672 million from SAR 8,152 million last year, mainly due to the increase in revenues.
EBITDA
Mobily delivered its highest EBITDA level over the past eight years, with an amount of SAR 5,594 million in 2021, compared to SAR 5,350 million last year, an increase of 4.6%. The increase in EBITDA mostly reflects Mobily’s operational efficiencies, in addition to the growth in revenues.
The EBITDA margin reached 37.7% in 2021 compared to 38.1% in 2020.
Operational profit (EBIT)
Operational profit increased by 22.0% in 2021, reaching SAR 1,668 million, from SAR 1,367 million last year, due to the increase in EBITDA.
Financial charges and Zakat
Financial charges decreased by 10.0% YoY to SAR 505 million in 2021 from SAR 561 million last year due to the decrease in SAIBOR, in addition to lower debt.
Zakat expenses at SAR 78 million were up from SAR 43 million last year.
CAPEX reached SAR 2,092 million in 2021, compared to SAR 2,792 million last year.
Operational Cash Flow
Mobily was able to deliver solid Operational Cash Flow (EBITDA-CAPEX), at SAR 3,502 million in 2021, a 36.9% YoY increase from SAR 2,558 million last year.
The financial statements for the year ended 31st December 2021 will be available through Mobily’s Investor Relations Website, and Mobily’s IR App on smartphones and tablets, after being published on the Saudi Exchange website.
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.