| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 3,828 | 3,606 | 6.16 | 3,899 | -1.82 |
| Gross Profit (Loss) | 2,300 | 2,186 | 5.21 | 2,333 | -1.41 |
| Operational Profit (Loss) | 534 | 423 | 26.24 | 519 | 2.89 |
| Net Profit (Loss) after Zakat and Tax | 373 | 281 | 32.74 | 360 | 3.61 |
| Total Comprehensive Income | 412 | 283 | 45.58 | 350 | 17.71 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 11,537 | 10,937 | 5.49 |
| Gross Profit (Loss) | 6,871 | 6,405 | 7.28 |
| Operational Profit (Loss) | 1,520 | 1,176 | 29.25 |
| Net Profit (Loss) after Zakat and Tax | 1,051 | 751 | 39.95 |
| Total Comprehensive Income | 1,167 | 764 | 52.75 |
| Total Share Holders Equity (after Deducting Minority Equity) | 15,709 | 14,825 | 5.96 |
| Profit (Loss) per Share | 1.37 | 0.97 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Mobily achieved a net profit of SAR 373 million for Q3 2022, a 32.74% increase from SAR 281 million in Q3 2021, due to the following: |
Revenue
Mobily continued to grow its revenue to reach SAR 3,828 million in Q3 2022, a 6.16% growth from SAR 3,606 million in Q3 2021. The increase in Mobily’s revenue was mainly driven by the growth of all revenue streams, with a healthy growth in the FTTH active base and the overall subscriber base.
Gross Profit
Gross profit increased by 5.22% in Q3 2022, reaching SAR 2,300 million from SAR 2,186 million in Q3 2021, mainly due to the improvement in revenues.
EBITDA
Mobily achieved an EBITDA of SAR 1,487 million in Q3 2022, an increase of 7.01% compared to SAR 1,389 million in Q3 2021. The increase in EBITDA mostly reflects the growth in revenues and the company’s efficiency in managing its operations.
EBITDA margin increased to reach 38.8% in Q3 2022 versus 38.5% in Q3 2021.
Operational profit (EBIT)
Operational profit increased by 26.24%, reaching SAR 534 million in Q3 2022 from SAR 423 million in Q3 2021 due to the increase in EBITDA.
Financial charges and Zakat
Financial charges increased by 19.71% in Q3 2022 to reach SAR 150 million from SAR 125 million in Q3 2021, reflecting the increase in interest rate.
Zakat expense is at SAR 21 million in Q3 2022 compared to SAR 18 million in Q3 2021.
Revenue
Mobily’s revenue amounted to SAR 3,828 million in Q3 2022, representing a decrease of 1.82% from SAR 3,899 million in Q2 2022. This is mainly attributed to the seasonality nature of devices sales in the Consumer segment.
Gross Profit
Gross profit decreased by 1.41% in Q3 2022, to reach SAR 2,300 million from SAR 2,333 million in Q2 2022, mainly due to the decrease in revenues.
EBITDA
Mobily delivered an EBITDA of SAR 1,487 million in Q3 2022 compared to SAR 1,482 million in Q2 2022, an increase of 0.29% due to the company’s efficiency in managing its operations.
The EBITDA margin reached 38.8% in Q3 2022 compared to 38.0% in Q2 2022.
Operational profit (EBIT)
Operational profit increased by 2.89% in Q3 2022, reaching SAR 534 million from SAR 519 million Q2 2022, due to the increase in EBITDA.
Financial charges and Zakat
Financial charges increased by 5.06% in Q3 2022 to reach SAR 150 million from SAR 143 million in Q2 2022, as result of the increase in interest rate.
Zakat expense decreased by SAR 21 million in Q3 2022 compared to SAR 25 million in Q2 2022.
Revenues
Mobily succeeded in growing its revenues by 5.49% to reach SAR 11,537 million in the current period versus SAR 10,937 million for the similar period of the previous year. This is mainly attributed to the growth of all revenue streams, with a healthy growth in the FTTH active base and the overall subscriber base.
Gross profit
Gross profit for the current period amounted to SAR 6,871 million versus SAR 6,405 million for the similar period of the previous year, a growth of 7.28%. This is mainly attributed to the improvement in revenues.
EBITDA
Mobily succeeded in increasing its EBITDA by 7.72% to reach SAR 4,414 million in the current period versus SAR 4,098 million for the similar period of the previous year. The EBITDA increase is attributed to the improvement in revenues and the company’s efficiency in managing its operations.
EBITDA margin increased to 38.3% in the current period versus 37.5% for the similar period of the previous year.
Operational profit (EBIT)
Operational profit for the current period increased by 29.25% to reach SAR 1,520 million compared to an operational profit of SAR 1,176 million for the similar period of the previous year, reflecting the improvement in EBITDA.
Financial charges and Zakat
The financial charges of the current period amounted to SAR 418 million compared to SAR 373 million for the similar period of the previous year, representing an increase of 11.95% due to the increase in interest rate.
Zakat expense for the current period amounted to SAR 76 million compared to Zakat expenses of SAR 56 million for the similar period of the previous year.
CAPEX for the first nine months of 2022 amounted to SAR 935 million versus SAR 885 million for the similar period of the previous year.
Operational Cash Flow
Mobily delivered a solid Operational Cash Flow (EBITDA-CAPEX) in the first nine months of 2022 at SAR 3,479 million versus SAR 3,213 million for the similar period of the previous year, representing an increase of 8.28%.
The condensed consolidated interim financial statements for the period ended 30th September 2022 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.