Etihad Atheeb Telecommunication Co. (GO) announces its Interim Financial Results for the Period Ending on 31-12-2023 (Nine Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 265.44 | 164.02 | 61.833 | 237.89 | 11.58 |
| Gross Profit (Loss) | 83.54 | 45.75 | 82.601 | 77.5 | 7.793 |
| Operational Profit (Loss) | 81.07 | 11.72 | 591.723 | 52.77 | 53.628 |
| Net profit (Loss) | 76.05 | 7.99 | 851.814 | 47.9 | 58.768 |
| Total Comprehensive Income | 76.05 | 7.99 | 851.814 | 47.9 | 58.768 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 709.66 | 452.52 | 56.824 |
| Gross Profit (Loss) | 231.7 | 126.41 | 83.292 |
| Operational Profit (Loss) | 169.64 | 25.9 | 554.98 |
| Net profit (Loss) | 176.54 | 12.96 | 1,262.191 |
| Total Comprehensive Income | 176.54 | 12.96 | 1,262.191 |
| Total Share Holders Equity (After Deducting the Minority Equity) | 292.62 | 86.96 | 236.499 |
| Profit (Loss) per Share | 19.62 | 1.44 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The increase in revenues is due to the increase in the revenues of the individual sector, the revenues of the business sector, and the revenues of the wholesale sector for the current quarter compared to the same quarter of the previous year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason behind the increase in net income for the period compared to the comparative period is due to an increase in revenue, increase in other income and decrease in selling and marketing expenses, In spite of the increase in costs of services, general & administrative expenses, financial charges, and the allowance for impairment in trade receivables. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The increase in revenues is due to the increase in the revenues of the individual sector, the revenues of the business sector, and the revenues of the wholesale sector for the current quarter compared to the previous quarter of the current financial year. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason behind the increase in net income for the period compared to the previous period is due to an increase in revenue and an increase in other income, In spite of the increase in costs of services, selling and marketing expenses, general & administrative expenses, financial charges, and the allowance for impairment in trade receivables. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in revenues is due to the increase in the revenues of the retail sector, the business sector, and the wholesale sector for the current period compared to the same period of the previous financial year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The reason behind the increase in net income for the period compared to the comparative period is due to an increase in revenue, increase in other income, decrease in selling and marketing expenses, decrease in allowance for impairment in trade receivables, and decrease in financial charges.
In spite of the increase in costs of services and the general & administrative expenses. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | . |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the presentation in the current period, to enhance the comparability of information and to be more appropriate for users of condensed interim financial statements. |
| Additional Information | Subsequent events:
On January 8, 2024, The CMA has announced its resolution approving Etihad Atheeb Telecommunication Company's request to increase its capital. The company called an extraordinary General Assembly meeting on February 6, 2024, to vote on the board's recommendation to increase the company's capital. On February 6, 2024, the Extraordinary General Assembly meeting approved the recommendation of the Board of Directors to increase the company’s capital by issuing priority rights shares at a value of 250,000,000 million Saudi riyals so that the capital after the increase will become 339,999,000 million Saudi riyals. |
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