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Mobily's reliance on digital channels helped mitigate Covid-19 effects – CEO

Mobily's reliance on digital channels helped mitigate Covid-19 effects – CEO
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ETIHAD ETISALAT
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0.49% 30.45 0.15

Riyadh – Mubasher: CEO of Etihad Etisalat Company (Mobily), Salman Abdulaziz Al Badran, said his company’s reliance on digital channels has largely helped mitigate the impacts of the coronavirus on the company.

Mobily has successfully overcome the crisis thanks to its strategy aimed at achieving growth and improving profitability, Al Badran told Al Arabiya on Sunday.

Earlier today, the Tadawul-listed firm reported SAR 783 million in net profits during 2020, up from SAR 31 million in 2019.

Meanwhile, the company’s revenues went up by 4.4% on a yearly basis during the year ended on 31 December 2020, reaching SAR 14 billion.

The CEO, moreover, explained that during the past year, his company focused on certain segments of customers and targeted high-income customers, an approach that significantly helped grow the company’s profits.  

In addition, the company’s financial performance attracted banks and financial establishments, enabling the company to get appropriate interest rates at better conditions.