Etihad Atheeb sees profit of SAR 13 mln in 9M 2022/23; Q3 at SAR 8 mln

05/02/2023 Argaam Exclusive

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Etihad Atheeb Telecommunication Co. (GO) turned to a net profit of SAR 13 million in the nine-month period ended on Dec. 31, 2022, from a net loss of SAR 29.2 million in the year-ago period.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	258.33	452.52	75.2 %
Gross Income	60.27	126.41	109.7 %
Operating Income	(41.15)	19.46	147.3 %
Net Income	(29.16)	12.96	144.4 %
Average Shares	29.62	29.62	0.0 %
EPS (Riyals)	(0.98)	0.44	144.4 %

The profit was driven by higher revenue and lower allowance for impairment in trade receivables as well as lower general and administrative expenses, and financial charges.

This came despite higher costs of services, and, selling and marketing expenses, in addition to lower other income.

The telco turned to a net profit of SAR 8 million in Q3 2022/23, against a net loss of SAR 7.37 million a year earlier.

On a quarterly basis, the telecom operator saw a 20% increase in net profit, from SAR 6.64 million in Q2 2022/23.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	102.51	164.02	60.0 %
Gross Income	25.91	45.75	76.5 %
Operating Income	(6.73)	10.48	255.8 %
Net Income	(7.37)	8.00	208.5 %
Average Shares	29.62	29.62	0.0 %
EPS (Riyals)	(0.25)	0.27	208.5 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	148.02	164.02	10.8 %
Gross Income	43.12	45.75	6.1 %
Operating Income	7.22	10.48	45.2 %
Net Income	6.63	8.00	20.5 %
Average Shares	29.62	29.62	-
EPS (Riyals)	0.22	0.27	20.5 %

Shareholders' equity, no minority interest, at the end of the nine-month period amounted to SAR 86.96 million, compared to SAR 73.99 million a year earlier.

Accumulated losses amounted to SAR 3.04 million at the end of the current period, constituting 3.38% of the telco’s capital.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2013	58.09	(15.3 %)	9.96	(9.6 %)	(67.85)	12.3 %
Q2 2013	54.99	(18.9 %)	10.47	(17.6 %)	(60.12)	23.1 %
Q3 2013	63.76	(8.5 %)	7.89	(37.8 %)	(67.24)	18.5 %
Q4 2013	57.70	(4.5 %)	4.12	(69.3 %)	(73.86)	(110.4 %)
2013	234.54	(12.0 %)	32.43	(34.9 %)	(269.07)	1.5 %
Q1 2014	61.99	6.7 %	6.16	(38.2 %)	(69.97)	(3.1 %)
Q2 2014	51.21	(6.9 %)	4.24	(59.5 %)	(78.43)	(30.5 %)
Q3 2014	60.48	(5.1 %)	8.79	11.5 %	(80.18)	(19.2 %)
Q4 2014	73.43	27.3 %	10.01	143.2 %	(63.99)	13.4 %
2014	247.10	5.4 %	29.96	(7.6 %)	(292.56)	(8.7 %)
Q1 2015	83.33	34.4 %	9.71	57.7 %	(72.05)	(3.0 %)
Q2 2015	76.05	48.5 %	9.17	116.4 %	(71.51)	8.8 %
Q3 2015	86.75	43.4 %	4.49	(48.9 %)	(74.99)	6.5 %
Q4 2015	96.90	32.0 %	8.81	(12.1 %)	(70.92)	(10.8 %)
2015	343.03	38.8 %	31.38	4.7 %	(289.47)	1.1 %
Q1 2016	89.99	8.0 %	8.84	(8.9 %)	(62.19)	13.7 %
Q2 2016	86.30	13.5 %	12.19	32.9 %	(59.51)	16.8 %
Q3 2016	116.36	34.1 %	27.85	519.8 %	(53.20)	29.1 %
Q4 2016	129.10	33.2 %	29.74	237.7 %	(47.83)	32.6 %
2016	421.75	22.9 %	78.62	150.6 %	(222.73)	23.1 %
Q1 2017	136.03	51.2 %	25.08	183.5 %	(51.26)	17.6 %
Q2 2017	126.45	46.5 %	22.71	86.3 %	(41.44)	30.4 %
Q3 2017	110.79	(4.8 %)	17.08	(38.7 %)	(43.32)	18.6 %
Q4 2017	106.56	(17.5 %)	26.07	(12.3 %)	(62.20)	(30.0 %)
2017	479.82	13.8 %	90.94	15.7 %	(198.20)	11.0 %
Q1 2018	104.67	(23.1 %)	32.43	29.3 %	(32.91)	35.8 %
Q2 2018	108.81	(14.0 %)	30.68	35.1 %	(25.02)	39.6 %
Q3 2018	103.92	(6.2 %)	40.24	135.6 %	(12.38)	71.4 %
Q4 2018	103.70	(2.7 %)	32.04	22.9 %	(5.07)	91.8 %
2018	421.09	(12.2 %)	135.39	48.9 %	(75.38)	62.0 %
Q1 2019	97.10	(7.2 %)	39.68	22.3 %	(25.95)	21.2 %
Q2 2019	86.84	(20.2 %)	42.23	37.6 %	(18.60)	25.6 %
Q3 2019	77.28	(25.6 %)	50.91	26.5 %	(4.84)	60.9 %
Q4 2019	78.39	(24.4 %)	54.81	71.1 %	(4.46)	12.0 %
2019	339.60	(19.4 %)	187.62	38.6 %	(53.85)	28.6 %
Q1 2020	73.03	(24.8 %)	39.87	0.5 %	(8.67)	66.6 %
Q2 2020	67.77	(22.0 %)	40.54	(4.0 %)	(8.87)	52.3 %
Q3 2020	67.18	(13.1 %)	38.73	(23.9 %)	(3.99)	17.7 %
Q4 2020	74.12	(5.4 %)	21.88	(60.1 %)	(19.83)	(344.5 %)
2020	282.10	(16.9 %)	141.03	(24.8 %)	(41.35)	23.2 %
Q1 2021	74.97	2.7 %	20.19	(49.4 %)	(7.59)	12.4 %
Q2 2021	80.85	19.3 %	14.17	(65.1 %)	(26.83)	(202.4 %)
Q3 2021	102.51	52.6 %	25.91	(33.1 %)	(6.73)	(68.7 %)
Q4 2021	120.23	62.2 %	31.57	44.3 %	(3.70)	81.3 %
2021	378.55	34.2 %	91.84	(34.9 %)	(44.85)	(8.5 %)
Q1 2022	140.48	87.4 %	37.54	85.9 %	1.76	123.1 %
Q2 2022	148.02	83.1 %	43.12	204.4 %	7.22	126.9 %
Q3 2022	164.02	60.0 %	45.75	76.5 %	10.48	255.8 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	266.48	7.9 %	49.82	37.5 %	(273.12)	9.7 %
2013	234.54	(12.0 %)	32.43	(34.9 %)	(269.07)	1.5 %
2014	247.10	5.4 %	29.96	(7.6 %)	(292.56)	(8.7 %)
2015	343.03	38.8 %	31.38	4.7 %	(289.47)	1.1 %
2016	421.75	22.9 %	78.62	150.6 %	(222.73)	23.1 %
2017	479.82	13.8 %	90.94	15.7 %	(198.20)	11.0 %
2018	421.09	(12.2 %)	135.39	48.9 %	(75.38)	62.0 %
2019	339.60	(19.4 %)	187.62	38.6 %	(53.85)	28.6 %
2020	282.10	(16.9 %)	141.03	(24.8 %)	(41.35)	23.2 %
2021	378.55	34.2 %	91.84	(34.9 %)	(44.85)	(8.5 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2013	(68.97)	13.2 %	(2.33)	-	(68.97)	(2.33)
Q2 2013	(43.25)	45.2 %	(1.46)	18.53	(61.78)	(2.09)
Q3 2013	(67.60)	19.9 %	(2.28)	-	(67.60)	(2.28)
Q4 2013	(69.46)	(91.1 %)	(2.34)	-	(69.46)	(2.34)
2013	(249.27)	10.7 %	(8.41)	18.53	(267.80)	(9.04)
Q1 2014	60.43	187.6 %	2.04	130.40	(69.97)	(2.36)
Q2 2014	(35.28)	18.4 %	(1.19)	32.10	(67.38)	(2.27)
Q3 2014	(47.67)	29.5 %	(1.61)	31.50	(79.17)	(2.67)
Q4 2014	(33.73)	51.4 %	(1.14)	46.94	(80.67)	(2.72)
2014	(56.24)	77.4 %	(1.90)	240.94	(297.19)	(10.03)
Q1 2015	(40.16)	(166.4 %)	(1.36)	33.12	(73.28)	(2.47)
Q2 2015	3.57	110.1 %	0.12	76.25	(72.68)	(2.45)
Q3 2015	(48.87)	(2.5 %)	(1.65)	27.25	(76.12)	(2.57)
Q4 2015	(62.64)	(85.7 %)	(2.11)	9.25	(71.89)	(2.43)
2015	(148.10)	(163.3 %)	(5.00)	145.92	(294.01)	(9.93)
Q1 2016	(58.11)	(44.7 %)	(1.96)	7.17	(65.27)	(2.20)
Q2 2016	15.36	329.8 %	0.52	77.77	(62.42)	(2.11)
Q3 2016	(55.99)	(14.6 %)	(1.89)	2.00	(57.99)	(1.96)
Q4 2016	(26.53)	57.6 %	(0.90)	24.00	(50.53)	(1.71)
2016	(125.27)	15.4 %	(4.23)	110.94	(236.21)	(7.97)
Q1 2017	55.42	195.4 %	1.87	97.92	(42.50)	(1.43)
Q2 2017	(29.81)	(294.1 %)	(1.01)	-	(29.81)	(1.01)
Q3 2017	(32.90)	41.2 %	(1.11)	-	(32.90)	(1.11)
Q4 2017	(32.97)	(24.3 %)	(1.11)	-	(32.97)	(1.11)
2017	(40.26)	67.9 %	(1.36)	97.92	(138.18)	(4.66)
Q1 2018	(21.87)	(139.5 %)	(0.74)	-	(21.87)	(0.74)
Q2 2018	(13.67)	54.2 %	(0.46)	-	(13.67)	(0.46)
Q3 2018	(12.71)	61.4 %	(0.43)	-	(12.71)	(0.43)
Q4 2018	(5.05)	84.7 %	(0.17)	-	(5.05)	(0.17)
2018	(53.29)	(32.4 %)	(1.80)	-	(53.29)	(1.80)
Q1 2019	(31.86)	(45.7 %)	(1.08)	-	(31.86)	(1.08)
Q2 2019	(20.83)	(52.4 %)	(0.70)	-	(20.83)	(0.70)
Q3 2019	(9.80)	22.9 %	(0.33)	-	(9.80)	(0.33)
Q4 2019	(9.12)	(80.7 %)	(0.31)	-	(9.12)	(0.31)
2019	(71.61)	(34.4 %)	(2.42)	-	(71.61)	(2.42)
Q1 2020	(12.27)	61.5 %	(0.41)	-	(12.27)	(0.41)
Q2 2020	(12.03)	42.2 %	(0.41)	-	(12.03)	(0.41)
Q3 2020	126.85	1394.2 %	4.28	136.99	(10.15)	(0.34)
Q4 2020	(140.81)	(1,444.1 %)	(4.75)	(93.37)	(47.44)	(1.60)
2020	(38.26)	46.6 %	(1.29)	43.62	(81.88)	(2.76)
Q1 2021	(12.11)	1.2 %	(0.41)	-	(12.11)	(0.41)
Q2 2021	(9.67)	19.6 %	(0.33)	-	(9.67)	(0.33)
Q3 2021	(7.37)	(105.8 %)	(0.25)	-	(7.37)	(0.25)
Q4 2021	(8.24)	94.1 %	(0.28)	-	(8.24)	(0.28)
2021	(37.40)	2.2 %	(1.26)	-	(37.40)	(1.26)
Q1 2022	(1.67)	86.2 %	(0.06)	-	(1.67)	(0.06)
Q2 2022	6.63	168.6 %	0.22	-	6.63	0.22
Q3 2022	8.00	208.5 %	0.27	-	8.00	0.27

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	(279.08)	(500.6 %)	(9.42)	-	(279.08)	(9.42)
2013	(249.27)	10.7 %	(8.41)	18.53	(267.80)	(9.04)
2014	(56.24)	77.4 %	(1.90)	240.94	(297.19)	(10.03)
2015	(148.10)	(163.3 %)	(5.00)	145.92	(294.01)	(9.93)
2016	(125.27)	15.4 %	(4.23)	110.94	(236.21)	(7.97)
2017	(40.26)	67.9 %	(1.36)	97.92	(138.18)	(4.66)
2018	(53.29)	(32.4 %)	(1.80)	-	(53.29)	(1.80)
2019	(71.61)	(34.4 %)	(2.42)	-	(71.61)	(2.42)
2020	(38.26)	46.6 %	(1.29)	43.62	(81.88)	(2.76)
2021	(37.40)	2.2 %	(1.26)	-	(37.40)	(1.26)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	19.05 %	(31.39 %)	(104.93 %)
Q2 2013	19.13 %	(28.40 %)	(103.43 %)
Q3 2013	17.59 %	(25.77 %)	(98.92 %)
Q4 2013	13.83 %	(28.77 %)	(114.18 %)
2013	13.83 %	(28.77 %)	(114.18 %)
Q1 2014	12.01 %	(28.98 %)	(112.74 %)
Q2 2014	9.55 %	(36.85 %)	(116.94 %)
Q3 2014	10.07 %	(43.48 %)	(123.60 %)
Q4 2014	11.82 %	(38.11 %)	(120.27 %)
2014	12.12 %	(38.11 %)	(120.27 %)
Q1 2015	12.20 %	(37.20 %)	(111.94 %)
Q2 2015	12.85 %	(33.11 %)	(104.27 %)
Q3 2015	10.45 %	(29.51 %)	(94.74 %)
Q4 2015	9.38 %	(29.50 %)	(85.70 %)
2015	9.15 %	(29.50 %)	(85.71 %)
Q1 2016	8.96 %	(28.58 %)	(81.77 %)
Q2 2016	9.54 %	(26.71 %)	(76.60 %)
Q3 2016	14.81 %	(21.09 %)	(66.12 %)
Q4 2016	18.64 %	(19.19 %)	(56.01 %)
2016	18.64 %	(19.19 %)	(56.01 %)
Q1 2017	20.28 %	(17.87 %)	(45.63 %)
Q2 2017	20.75 %	(16.14 %)	(35.60 %)
Q3 2017	18.83 %	(17.80 %)	(31.00 %)
Q4 2017	18.95 %	(22.34 %)	(28.80 %)
2017	18.95 %	(22.34 %)	(28.80 %)
Q1 2018	21.92 %	(21.11 %)	(26.21 %)
Q2 2018	24.66 %	(19.04 %)	(23.54 %)
Q3 2018	30.53 %	(12.81 %)	(19.16 %)
Q4 2018	32.15 %	(3.28 %)	(12.66 %)
2018	32.15 %	(3.28 %)	(12.66 %)
Q1 2019	34.49 %	1.25 %	(15.30 %)
Q2 2019	39.38 %	6.04 %	(17.99 %)
Q3 2019	45.17 %	11.87 %	(18.51 %)
Q4 2019	55.25 %	20.23 %	(21.09 %)
2019	55.25 %	20.23 %	(21.09 %)
Q1 2020	59.52 %	25.59 %	(16.48 %)
Q2 2020	62.78 %	28.79 %	(14.58 %)
Q3 2020	60.74 %	28.69 %	(15.21 %)
Q4 2020	49.99 %	20.67 %	(29.03 %)
2020	49.99 %	20.67 %	(29.03 %)
Q1 2021	42.72 %	18.51 %	(28.77 %)
Q2 2021	31.96 %	9.35 %	(26.71 %)
Q3 2021	24.71 %	4.99 %	(23.04 %)
Q4 2021	24.26 %	5.85 %	(9.88 %)
2021	24.26 %	5.85 %	(9.88 %)
Q1 2022	24.59 %	6.23 %	(6.07 %)
Q2 2022	27.02 %	11.34 %	(2.08 %)
Q3 2022	27.58 %	12.82 %	0.82 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	18.69 %	(31.24 %)	(104.73 %)
2013	13.83 %	(28.77 %)	(114.18 %)
2014	12.12 %	(38.11 %)	(120.27 %)
2015	9.15 %	(29.50 %)	(85.71 %)
2016	18.64 %	(19.19 %)	(56.01 %)
2017	18.95 %	(22.34 %)	(28.80 %)
2018	32.15 %	(3.28 %)	(12.66 %)
2019	55.25 %	20.23 %	(21.09 %)
2020	49.99 %	20.67 %	(29.03 %)
2021	24.26 %	5.85 %	(9.88 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	17.14 %	(30.65 %)	(118.72 %)
Q2 2013	19.04 %	(17.71 %)	(112.35 %)
Q3 2013	12.37 %	(26.15 %)	(106.03 %)
Q4 2013	7.14 %	(40.31 %)	(120.36 %)
Q1 2014	9.93 %	(31.36 %)	(112.88 %)
Q2 2014	8.28 %	(52.93 %)	(131.57 %)
Q3 2014	14.54 %	(50.94 %)	(130.91 %)
Q4 2014	13.64 %	(22.91 %)	(109.86 %)
Q1 2015	11.66 %	(30.15 %)	(87.95 %)
Q2 2015	12.06 %	(32.04 %)	(95.56 %)
Q3 2015	5.18 %	(32.27 %)	(87.74 %)
Q4 2015	9.09 %	(24.46 %)	(74.19 %)
Q1 2016	9.83 %	(26.54 %)	(72.53 %)
Q2 2016	14.12 %	(23.81 %)	(72.32 %)
Q3 2016	23.94 %	(12.06 %)	(49.84 %)
Q4 2016	23.03 %	(17.40 %)	(39.14 %)
Q1 2017	18.44 %	(19.52 %)	(31.24 %)
Q2 2017	17.96 %	(14.98 %)	(23.58 %)
Q3 2017	15.41 %	(19.38 %)	(29.70 %)
Q4 2017	24.47 %	(37.77 %)	(30.94 %)
Q1 2018	30.99 %	(13.41 %)	(20.90 %)
Q2 2018	28.19 %	(5.76 %)	(12.56 %)
Q3 2018	38.72 %	6.03 %	(12.23 %)
Q4 2018	30.89 %	0.22 %	(4.87 %)
Q1 2019	40.86 %	5.10 %	(32.81 %)
Q2 2019	48.63 %	14.08 %	(23.98 %)
Q3 2019	65.87 %	33.55 %	(12.68 %)
Q4 2019	69.92 %	32.64 %	(11.63 %)
Q1 2020	54.60 %	23.29 %	(16.80 %)
Q2 2020	59.83 %	24.85 %	(17.75 %)
Q3 2020	57.65 %	33.82 %	(15.10 %)
Q4 2020	29.52 %	2.36 %	(64.00 %)
Q1 2021	26.93 %	15.03 %	(16.16 %)
Q2 2021	17.52 %	(9.83 %)	(11.97 %)
Q3 2021	25.28 %	11.23 %	(7.19 %)
Q4 2021	26.26 %	6.09 %	(6.85 %)
Q1 2022	26.72 %	11.96 %	(1.19 %)
Q2 2022	29.13 %	15.09 %	4.48 %
Q3 2022	27.89 %	16.43 %	4.87 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2013	29.62	(9.07)	(9.07)	29.27
Q2 2013	29.62	(7.86)	(8.49)	27.81
Q3 2013	29.62	(7.30)	(7.92)	25.53
Q4 2013	29.62	(8.41)	(9.04)	23.18
Q1 2014	29.62	(4.05)	(9.07)	25.22
Q2 2014	29.62	(3.78)	(9.26)	24.03
Q3 2014	29.62	(3.10)	(9.65)	22.42
Q4 2014	29.62	(1.90)	(10.03)	21.27
Q1 2015	29.62	(5.29)	(10.14)	19.91
Q2 2015	29.62	(3.98)	(10.32)	20.01
Q3 2015	29.62	(4.02)	(10.22)	18.35
Q4 2015	29.62	(5.00)	(9.92)	16.19
Q1 2016	29.62	(5.61)	(9.65)	13.09
Q2 2016	29.62	(5.21)	(9.31)	13.61
Q3 2016	29.62	(5.45)	(8.69)	11.72
Q4 2016	29.62	(4.23)	(7.97)	10.82
Q1 2017	29.62	(0.40)	(7.20)	12.69
Q2 2017	29.62	(1.92)	(6.10)	11.69
Q3 2017	29.62	(1.14)	(5.26)	10.58
Q4 2017	29.62	(1.36)	(4.66)	9.59
Q1 2018	29.62	(3.97)	(3.97)	8.53
Q2 2018	29.62	(3.42)	(3.42)	8.07
Q3 2018	29.62	(2.74)	(2.74)	7.64
Q4 2018	29.62	(1.80)	(1.80)	7.50
Q1 2019	29.62	(2.14)	(2.14)	6.43
Q2 2019	29.62	(2.38)	(2.38)	5.72
Q3 2019	29.62	(2.28)	(2.28)	5.39
Q4 2019	29.62	(2.42)	(2.42)	5.09
Q1 2020	29.62	(1.76)	(1.76)	4.67
Q2 2020	29.62	(1.46)	(1.46)	4.27
Q3 2020	29.62	3.15	(1.47)	8.55
Q4 2020	29.62	(1.29)	(2.76)	3.77
Q1 2021	29.62	(1.29)	(2.76)	3.36
Q2 2021	29.62	(1.21)	(2.68)	3.04
Q3 2021	29.62	(5.74)	(2.59)	2.79
Q4 2021	29.62	(1.26)	(1.26)	2.50
Q1 2022	29.62	(0.91)	(0.91)	2.44
Q2 2022	29.62	(0.36)	(0.36)	2.67
Q3 2022	29.62	0.16	0.16	2.94

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	29.62	(9.42)	(9.42)	31.60
2013	29.62	(8.41)	(9.04)	23.18
2014	29.62	(1.90)	(10.03)	21.27
2015	29.62	(5.00)	(9.93)	16.19
2016	29.62	(4.23)	(7.97)	10.82
2017	29.62	(1.36)	(4.66)	9.59
2018	29.62	(1.80)	(1.80)	7.50
2019	29.62	(2.42)	(2.42)	5.09
2020	29.62	(1.29)	(2.76)	3.77
2021	29.62	(1.26)	(1.26)	2.50

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	NEG	NEG	2.59
Q2 2013	NEG	NEG	3.43
Q3 2013	NEG	NEG	3.38
Q4 2013	NEG	NEG	3.78
Q1 2014	NEG	NEG	4.11
Q2 2014	NEG	NEG	3.27
Q3 2014	NEG	NEG	3.04
Q4 2014	NEG	NEG	1.93
Q1 2015	NEG	NEG	1.96
Q2 2015	NEG	NEG	2.00
Q3 2015	NEG	NEG	1.74
Q4 2015	NEG	NEG	2.05
Q1 2016	NEG	NEG	1.86
Q2 2016	NEG	NEG	1.75
Q3 2016	NEG	NEG	1.48
Q4 2016	NEG	NEG	1.66
Q1 2017	NEG	NEG	1.93
Q2 2017	NEG	NEG	1.75
Q3 2017	NEG	NEG	1.83
Q4 2017	NEG	NEG	1.86
Q1 2018	NEG	NEG	1.31
Q2 2018	NEG	NEG	1.21
Q3 2018	NEG	NEG	1.28
Q4 2018	NEG	NEG	1.30
Q1 2019	NEG	NEG	1.52
Q2 2019	NEG	NEG	1.71
Q3 2019	NEG	NEG	1.81
Q4 2019	NEG	NEG	1.92
Q1 2020	NEG	NEG	2.09
Q2 2020	NEG	NEG	2.29
Q3 2020	3.10	NEG	1.14
Q4 2020	NEG	NEG	2.59
Q1 2021	NEG	NEG	10.24
Q2 2021	NEG	NEG	10.73
Q3 2021	NEG	NEG	10.25
Q4 2021	NEG	NEG	10.41
Q1 2022	NEG	NEG	8.04
Q2 2022	NEG	NEG	5.44
Q3 2022	85.28	85.28	4.63

Period	P/E	Adjusted P/E	Price/book
2012	NEG	NEG	2.46
2013	NEG	NEG	3.78
2014	NEG	NEG	1.93
2015	NEG	NEG	2.05
2016	NEG	NEG	1.66
2017	NEG	NEG	1.86
2018	NEG	NEG	1.30
2019	NEG	NEG	1.92
2020	NEG	NEG	2.59
2021	NEG	NEG	10.41

Business Segments (Million)

Compared With The

Period	Data sector	Voice services	Un-allocated service
Q3 2013	41.86	21.89	-
Q4 2013	40.03	17.68	-
Q1 2014	38.61	23.37	-
Q2 2014	36.49	14.72	-
Q3 2014	34.52	25.96	-
Q4 2014	36.03	37.40	-
Q1 2015	36.92	46.41	-
Q2 2015	35.85	40.21	-
Q3 2015	39.98	46.77	-
Q4 2015	43.21	53.69	-
Q1 2016	48.58	41.41	-
Q2 2016	52.30	34.00	-
Q3 2016	73.28	43.08	-
Q4 2016	89.70	39.40	-
Q1 2017	90.22	45.80	-
Q2 2017	83.70	42.76	-
Q3 2017	81.62	29.17	-
Q4 2017	83.18	23.38	-
Q1 2018	85.02	19.64	-
Q2 2018	88.39	20.42	-
Q3 2018	84.41	19.50	-
Q4 2018	84.24	19.46	-
Q1 2019	91.28	5.81	-
Q2 2019	81.64	5.20	-
Q3 2019	72.66	4.63	-
Q4 2019	57.61	20.77	-
Q1 2020	53.68	19.35	-
Q2 2020	65.88	1.88	-
Q3 2020	59.12	8.06	-
Q4 2020	70.50	3.62	-
Q1 2021	66.19	8.78	-
Q2 2021	69.02	11.83	-
Q3 2021	77.22	25.29	-
Q4 2021	88.03	32.20	-
Q1 2022	105.08	35.40	-
Q2 2022	112.39	35.63	-
Q3 2022	130.91	33.11	-

Period	Data sector	Voice services	Un-allocated service
2013	168.97	65.58	-
2014	145.66	101.44	-
2015	156.30	186.74	-
2016	263.86	157.89	-
2017	338.72	141.11	-
2018	342.06	79.03	-
2019	303.19	36.41	-
2020	249.18	32.92	-
2021	300.46	78.10	-

Financial Ratios

	Current
Market Cap (M Riyal)	3,861.26
Enterprise Value (EV) (M)	3,395.97
Shares Outstanding ((M))	33.99
EPS ( Riyal) (TTM)	5.87
Book Value (BV) ( Riyal)	19.24
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	23.53
P/E (TTM)	19.35
Price/book	5.90
Return on Average Assets (%) (TTM)	16.6
Return on Average Equity (%) (TTM)	45.8

Etihad Atheeb Telecommunication Co. (ATHEEB TELECOM)

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Etihad Atheeb sees profit of SAR 13 mln in 9M 2022/23; Q3 at SAR 8 mln

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Financials (M)

Current Quarter Comparison (M)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

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Business Segments (Million)

Revenue by Business Segment (Latest) 2022 Q3

Financial Ratios

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Etihad Atheeb Telecommunication Co. (ATHEEB TELECOM)

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Etihad Atheeb sees profit of SAR 13 mln in 9M 2022/23; Q3 at SAR 8 mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2022

Revenue by Business Segment (Latest) 2022 Q3

Financial Ratios

Share Price

Etihad Atheeb Telecommunication Co. (ATHEEB TELECOM)

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Business Segments (Million)