Etihad Etisalat Co. (Mobily) announces its annual consolidated financial results for the year ended 31 December 2022
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 15,669 | 14,834 | 5.63 | ||
| Gross Profit (Loss) | 9,363 | 8,672 | 7.97 | ||
| Operational Profit (Loss) | 2,310 | 1,654 | 39.66 | ||
| Net Profit (Loss) after Zakat and Tax | 1,657 | 1,072 | 54.57 | ||
| Total Comprehensive Income | 1,817 | 1,136 | 59.95 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 16,359 | 15,196 | 7.65 | ||
| Profit (Loss) per Share | 2.15 | 1.39 | |||
| 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 growth in net profit by 54.6% to reach SAR 1,657 million for the year 2022 compared to SAR 1,072 million in 2021, recording the highest annual net profit in the last nine years due to the following:
Revenues Mobily continued to grow its revenue to reach SAR 15,669 million in 2022, a 5.6% growth from SAR 14,834 million in the last year. The increase in Mobily’s revenues was mainly driven by the growth of all revenue streams, with a healthy growth in the subscriber base.
Gross Profit Gross profit increased by 8.0% in 2022, reaching SAR 9,363 million from SAR 8,672 million in the last year, mainly due to the increase in revenues.
Earnings before interest, tax, depreciation, and amortization (EBITDA) Mobily delivered its highest EBITDA level over the past nine years, with an amount of SAR 6,161 million in 2022, an increase of 10.4% compared to SAR 5,581 million in the previous year. The increase in EBITDA mostly reflects the growth in revenues and the company’s efficiency in managing its operations. EBITDA margin increased to reach 39.3% in 2022 versus 37.6% in 2021.
Operating profit Operational profit increased by 39.7%, reaching SAR 2,310 million in 2022 from SAR 1,654 million in the last year, due to the increase in EBITDA.
Financial charges and Zakat Financial charges increased by 20.2% in 2022 to reach SAR 607 million from SAR 505 million in the last year, reflecting the increase in interest rate. Zakat expenses is at SAR 122 million in 2022 compared to SAR 79 million in the last year. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the current period’s presentation. |
| Additional Information | CAPEX
CAPEX for 2022 amounted to SAR 2,093 million versus SAR 2,092 million for the previous year.
Operational Cash Flow Mobily delivered a solid Operational Cash Flow (EBITDA-CAPEX) in 2022 at SAR 4,067 million versus SAR 3,489 million for the previous year, representing an increase of 16.6%.
The financial statements for the year ended 31st December 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. |
| Attached Documents |  |
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