Mobily 2022 profit jumps 55% to SAR 1.65 bln; Q4 soars to SAR 606 mln

20/02/2023 Argaam Exclusive

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Etihad Etisalat Co. (Mobily) reported a net profit after Zakat and tax of SAR 1.65 billion for 2022, a rise of 55% from SAR 1.07 billion in 2021.

Financials (M)

Item	2021	2022	Change‬
Revenues	14,834.06	15,717.42	6.0 %
Gross Income	8,671.52	9,381.34	8.2 %
Operating Income	1,654.00	2,328.02	40.8 %
Net Income	1,071.54	1,656.94	54.6 %
Average Shares	770.00	770.00	-
EPS (Riyals)	1.39	2.15	54.6 %

The profit increase was driven by higher revenue, which rose 5.6% to SAR 15.66 billion in 2022 from SAR 14.83 billion last year, as all revenue streams recorded growth along with an increase in the subscriber base.

As a result, gross profit rose 8% year-on-year (YoY) to SAR 9.36 billion in 2022.

Mobily delivered its highest earnings before interest, taxes, depreciation and amortization (EBITDA) over the past nine years. EBITDA grew 10.4% YoY to SAR 6.16 billion in 2022. EBITDA margin increased to reach 39.3% in 2022 versus 37.6% in 2021.

In addition, operational profit increased by 39.7% YoY to SAR 2.31 billion.

Meanwhile, financial charges increased by 20.2% YoY to SAR 607 million, reflecting the increase in interest rate.

Zakat expenses stood at SAR 122 million in 2022 compared to SAR 79 million in 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	3,897.42	4,180.04	7.3 %
Gross Income	2,266.80	2,510.24	10.7 %
Operating Income	486.51	829.26	70.5 %
Net Income	320.82	605.89	88.9 %
Average Shares	770.00	770.00	-
EPS (Riyals)	0.42	0.79	88.9 %

Item	Q3 2022	Q4 2022	Change‬
Revenues	3,827.61	4,180.04	9.2 %
Gross Income	2,300.40	2,510.24	9.1 %
Operating Income	524.85	829.26	58.0 %
Net Income	372.52	605.89	62.6 %
Average Shares	770.00	770.00	-
EPS (Riyals)	0.48	0.79	62.6 %

The fourth-quarter net profit after Zakat and tax grew 89% to SAR 606 million, from SAR 320.82 million in Q4 2021.

Sequentially, net profit grew 62.7% from SAR 372.52 million in Q3 2022.

Total shareholders’ equity, excluding minority interest, reached SAR 16.35 billion as of Dec. 31, 2022, compared to SAR 15.19 billion a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2013	5,593.04	11.7 %	2,693.80	3.1 %	1,327.05	5.9 %
Q2 2013	5,960.05	5.0 %	2,975.14	0.7 %	1,639.60	11.7 %
Q3 2013	4,883.46	(21.0 %)	3,292.03	10.2 %	1,675.24	6.8 %
Q4 2013	4,087.12	(39.1 %)	2,589.22	(24.3 %)	401.13	(78.3 %)
2013	18,102.67	(23.2 %)	11,206.67	(6.4 %)	4,704.71	(23.3 %)
Q1 2014	3,853.06	(31.1 %)	2,163.70	(19.7 %)	420.73	(68.3 %)
Q2 2014	3,568.53	(40.1 %)	1,901.79	(36.1 %)	53.47	(96.7 %)
Q3 2014	3,859.86	(21.0 %)	2,182.85	(33.7 %)	127.01	(92.4 %)
Q4 2014	2,722.09	(33.4 %)	530.71	(79.5 %)	(665.86)	(266.0 %)
2014	14,004.01	(22.6 %)	6,778.54	(39.5 %)	(64.64)	(101.4 %)
Q1 2015	3,680.13	(4.5 %)	1,917.62	(11.4 %)	67.99	(83.8 %)
Q2 2015	3,556.26	(0.3 %)	1,881.45	(1.1 %)	(35.00)	(165.5 %)
Q3 2015	3,700.08	(4.1 %)	2,025.03	(7.2 %)	(50.04)	(139.4 %)
Q4 2015	3,487.65	28.1 %	2,133.98	302.1 %	161.14	124.2 %
2015	14,424.13	3.0 %	7,958.09	17.4 %	144.08	322.9 %
Q1 2016	3,440.28	(6.5 %)	1,924.97	0.4 %	140.29	106.4 %
Q2 2016	3,288.88	(7.5 %)	2,087.68	11.0 %	147.90	522.6 %
Q3 2016	2,931.84	(20.8 %)	1,741.18	(14.0 %)	(137.78)	(175.3 %)
Q4 2016	2,908.40	(16.6 %)	1,671.45	(21.7 %)	85.05	(47.2 %)
2016	12,569.40	(12.9 %)	7,425.29	(6.7 %)	235.47	63.4 %
Q1 2017	2,865.06	(16.7 %)	1,664.83	(13.5 %)	87.56	(37.6 %)
Q2 2017	2,853.83	(13.2 %)	1,633.29	(21.8 %)	40.68	(72.5 %)
Q3 2017	2,805.75	(4.3 %)	1,672.02	(4.0 %)	85.38	162.0 %
Q4 2017	2,826.66	(2.8 %)	1,560.17	(6.7 %)	6.35	(92.5 %)
2017	11,351.30	(9.7 %)	6,530.31	(12.1 %)	219.98	(6.6 %)
Q1 2018	2,832.51	(1.1 %)	1,662.77	(0.1 %)	93.24	6.5 %
Q2 2018	2,894.72	1.4 %	1,774.90	8.7 %	150.19	269.2 %
Q3 2018	2,976.07	6.1 %	1,758.40	5.2 %	250.19	193.0 %
Q4 2018	3,161.62	11.9 %	1,386.14	(11.2 %)	(279.57)	(4503.4 %)
2018	11,864.91	4.5 %	6,582.20	0.8 %	214.05	(2.7 %)
Q1 2019	3,200.96	13.0 %	1,838.71	10.6 %	270.32	189.9 %
Q2 2019	3,330.92	15.1 %	1,956.30	10.2 %	331.00	120.4 %
Q3 2019	3,403.71	14.4 %	2,015.36	14.6 %	317.67	27.0 %
Q4 2019	3,514.39	11.2 %	1,989.62	43.5 %	178.11	163.7 %
2019	13,449.97	13.4 %	7,799.99	18.5 %	1,097.09	412.5 %
Q1 2020	3,599.62	12.5 %	2,065.40	12.3 %	339.05	25.4 %
Q2 2020	3,558.78	6.8 %	2,061.99	5.4 %	372.97	12.7 %
Q3 2020	3,355.01	(1.4 %)	2,055.93	2.0 %	361.06	13.7 %
Q4 2020	3,532.76	0.5 %	1,969.09	(1.0 %)	311.86	75.1 %
2020	14,046.17	4.4 %	8,152.41	4.5 %	1,384.93	26.2 %
Q1 2021	3,602.68	0.1 %	2,071.56	0.3 %	361.55	6.6 %
Q2 2021	3,727.84	4.8 %	2,147.05	4.1 %	378.72	1.5 %
Q3 2021	3,606.12	7.5 %	2,186.11	6.3 %	427.23	18.3 %
Q4 2021	3,897.42	10.3 %	2,266.80	15.1 %	486.51	56.0 %
2021	14,834.06	5.6 %	8,671.52	6.4 %	1,654.00	19.4 %
Q1 2022	3,811.01	5.8 %	2,237.58	8.0 %	460.90	27.5 %
Q2 2022	3,898.75	4.6 %	2,333.12	8.7 %	513.01	35.5 %
Q3 2022	3,827.61	6.1 %	2,300.40	5.2 %	524.85	22.8 %
Q4 2022	4,180.04	7.3 %	2,510.24	10.7 %	829.26	70.5 %
2022	15,717.42	6.0 %	9,381.34	8.2 %	2,328.02	40.8 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	18,102.67	(23.2 %)	11,206.67	(6.4 %)	4,704.71	(23.3 %)
2014	14,004.01	(22.6 %)	6,778.54	(39.5 %)	(64.64)	(101.4 %)
2015	14,424.13	3.0 %	7,958.09	17.4 %	144.08	322.9 %
2016	12,569.40	(12.9 %)	7,425.29	(6.7 %)	235.47	63.4 %
2017	11,351.30	(9.7 %)	6,530.31	(12.1 %)	219.98	(6.6 %)
2018	11,864.91	4.5 %	6,582.20	0.8 %	214.05	(2.7 %)
2019	13,449.97	13.4 %	7,799.99	18.5 %	1,097.09	412.5 %
2020	14,046.17	4.4 %	8,152.41	4.5 %	1,384.93	26.2 %
2021	14,834.06	5.6 %	8,671.52	6.4 %	1,654.00	19.4 %
2022	15,717.42	6.0 %	9,381.34	8.2 %	2,328.02	40.8 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2013	1,339.64	10.9 %	1.74	-	1,339.64	1.74
Q2 2013	1,611.04	13.4 %	2.09	-	1,611.04	2.09
Q3 2013	1,631.94	8.0 %	2.12	-	1,631.94	2.12
Q4 2013	447.60	(76.2 %)	0.58	-	447.60	0.58
2013	4,691.91	(22.0 %)	6.09	-	4,691.91	6.09
Q1 2014	310.69	(76.8 %)	0.40	-	310.69	0.40
Q2 2014	92.50	(94.3 %)	0.12	-	92.50	0.12
Q3 2014	129.46	(92.1 %)	0.17	-	129.46	0.17
Q4 2014	(2108.45)	(571.1 %)	(2.74)	(1285.00)	(823.45)	(1.07)
2014	(1575.81)	(133.6 %)	(2.05)	(1285.00)	(290.81)	(0.38)
Q1 2015	(44.52)	(114.3 %)	(0.06)	(18.00)	(26.52)	(0.03)
Q2 2015	(900.91)	(1074.0 %)	(1.17)	(782.00)	(118.91)	(0.15)
Q3 2015	(158.29)	(222.3 %)	(0.21)	-	(158.29)	(0.21)
Q4 2015	10.59	100.5 %	0.01	(28.00)	38.59	0.05
2015	(1093.13)	30.6 %	(1.42)	(828.00)	(265.13)	(0.34)
Q1 2016	19.74	144.3 %	0.03	-	19.74	0.03
Q2 2016	3.18	100.4 %	0.00	-	3.18	0.00
Q3 2016	(166.33)	(5.1 %)	(0.22)	116.00	(282.33)	(0.37)
Q4 2016	(70.22)	(763.1 %)	(0.09)	-	(70.22)	(0.09)
2016	(213.64)	80.5 %	(0.28)	116.00	(329.64)	(0.43)
Q1 2017	(163.10)	(926.3 %)	(0.21)	(42.00)	(121.10)	(0.16)
Q2 2017	(189.66)	(6069.6 %)	(0.25)	-	(189.66)	(0.25)
Q3 2017	(174.46)	(4.9 %)	(0.23)	-	(174.46)	(0.23)
Q4 2017	(181.72)	(158.8 %)	(0.24)	-	(181.72)	(0.24)
2017	(708.94)	(231.8 %)	(0.92)	(42.00)	(666.94)	(0.87)
Q1 2018	(93.41)	42.7 %	(0.12)	-	(93.41)	(0.12)
Q2 2018	(78.63)	58.5 %	(0.10)	-	(78.63)	(0.10)
Q3 2018	(30.92)	82.3 %	(0.04)	(83.33)	52.41	0.07
Q4 2018	80.29	144.2 %	0.10	489.90	(409.61)	(0.53)
2018	(122.67)	82.7 %	(0.16)	406.57	(529.23)	(0.69)
Q1 2019	67.25	172.0 %	0.09	(27.00)	94.25	0.12
Q2 2019	37.77	148.0 %	0.05	(15.00)	52.77	0.07
Q3 2019	51.06	265.1 %	0.07	(21.00)	72.06	0.09
Q4 2019	(124.89)	(255.6 %)	(0.16)	-	(124.89)	(0.16)
2019	31.18	125.4 %	0.04	(63.00)	94.18	0.12
Q1 2020	130.28	93.7 %	0.17	-	130.28	0.17
Q2 2020	185.17	390.2 %	0.24	-	185.17	0.24
Q3 2020	221.87	334.6 %	0.29	-	221.87	0.29
Q4 2020	245.94	296.9 %	0.32	-	245.94	0.32
2020	783.25	2411.8 %	1.02	-	783.25	1.02
Q1 2021	225.87	73.4 %	0.29	-	225.87	0.29
Q2 2021	243.80	31.7 %	0.32	-	243.80	0.32
Q3 2021	281.05	26.7 %	0.37	-	281.05	0.37
Q4 2021	320.82	30.4 %	0.42	-	320.82	0.42
2021	1,071.54	36.8 %	1.39	-	1,071.54	1.39
Q1 2022	319.03	41.2 %	0.41	-	319.03	0.41
Q2 2022	359.50	47.5 %	0.47	-	359.50	0.47
Q3 2022	372.52	32.5 %	0.48	-	372.52	0.48
Q4 2022	605.89	88.9 %	0.79	-	605.89	0.79
2022	1,656.94	54.6 %	2.15	-	1,656.94	2.15

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	4,691.91	(22.0 %)	6.09	-	4,691.91	6.09
2014	(1575.81)	(133.6 %)	(2.05)	(1285.00)	(290.81)	(0.38)
2015	(1093.13)	30.6 %	(1.42)	(828.00)	(265.13)	(0.34)
2016	(213.64)	80.5 %	(0.28)	116.00	(329.64)	(0.43)
2017	(708.94)	(231.8 %)	(0.92)	(42.00)	(666.94)	(0.87)
2018	(122.67)	82.7 %	(0.16)	406.57	(529.23)	(0.69)
2019	31.18	125.4 %	0.04	(63.00)	94.18	0.12
2020	783.25	2411.8 %	1.02	-	783.25	1.02
2021	1,071.54	36.8 %	1.39	-	1,071.54	1.39
2022	1,656.94	54.6 %	2.15	-	1,656.94	2.15

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	49.89 %	35.84 %	25.44 %
Q2 2013	49.39 %	36.50 %	25.93 %
Q3 2013	53.49 %	39.23 %	27.90 %
Q4 2013	56.28 %	38.02 %	24.51 %
2013	61.91 %	41.24 %	25.92 %
Q1 2014	58.67 %	37.38 %	21.30 %
Q2 2014	60.68 %	35.19 %	15.15 %
Q3 2014	57.50 %	28.75 %	6.38 %
Q4 2014	48.41 %	24.77 %	(2.08 %)
2014	48.40 %	24.77 %	(2.08 %)
Q1 2015	47.24 %	23.57 %	(4.54 %)
Q2 2015	47.13 %	22.22 %	(6.07 %)
Q3 2015	46.53 %	21.11 %	(8.25 %)
Q4 2015	55.17 %	26.13 %	(1.84 %)
2015	55.17 %	26.13 %	(1.84 %)
Q1 2016	56.16 %	27.77 %	(1.54 %)
Q2 2016	58.72 %	30.28 %	(0.70 %)
Q3 2016	59.99 %	31.97 %	(1.68 %)
Q4 2016	59.07 %	31.96 %	(2.62 %)
2016	59.07 %	31.96 %	(2.62 %)
Q1 2017	59.74 %	32.37 %	(3.92 %)
Q2 2017	58.06 %	30.55 %	(5.74 %)
Q3 2017	58.09 %	33.90 %	(4.86 %)
Q4 2017	57.53 %	33.88 %	(5.88 %)
2017	57.53 %	33.88 %	(5.88 %)
Q1 2018	57.68 %	34.38 %	(5.65 %)
Q2 2018	58.72 %	35.42 %	(4.65 %)
Q3 2018	58.60 %	36.33 %	(2.61 %)
Q4 2018	55.48 %	33.91 %	(4.46 %)
2018	55.48 %	33.91 %	(4.46 %)
Q1 2019	55.24 %	34.61 %	(2.79 %)
Q2 2019	54.77 %	36.27 %	(1.66 %)
Q3 2019	54.95 %	35.01 %	(1.45 %)
Q4 2019	57.99 %	37.28 %	0.70 %
2019	57.99 %	37.28 %	0.70 %
Q1 2020	57.96 %	36.85 %	0.94 %
Q2 2020	57.77 %	36.85 %	1.87 %
Q3 2020	58.26 %	37.28 %	2.94 %
Q4 2020	58.04 %	38.12 %	5.58 %
2020	58.04 %	38.12 %	5.58 %
Q1 2021	58.07 %	38.32 %	6.26 %
Q2 2021	57.98 %	37.72 %	6.59 %
Q3 2021	57.87 %	37.34 %	6.89 %
Q4 2021	58.46 %	37.62 %	7.22 %
2021	58.46 %	37.62 %	7.22 %
Q1 2022	58.75 %	37.64 %	7.74 %
Q2 2022	59.31 %	38.12 %	8.42 %
Q3 2022	59.20 %	38.12 %	8.89 %
Q4 2022	59.69 %	39.31 %	10.54 %
2022	59.69 %	39.31 %	10.54 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	61.91 %	41.24 %	25.92 %
2014	48.40 %	24.77 %	(2.08 %)
2015	55.17 %	26.13 %	(1.84 %)
2016	59.07 %	31.96 %	(2.62 %)
2017	57.53 %	33.88 %	(5.88 %)
2018	55.48 %	33.91 %	(4.46 %)
2019	57.99 %	37.28 %	0.70 %
2020	58.04 %	38.12 %	5.58 %
2021	58.46 %	37.62 %	7.22 %
2022	59.69 %	39.31 %	10.54 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	48.16 %	34.68 %	23.95 %
Q2 2013	49.92 %	38.59 %	27.03 %
Q3 2013	67.41 %	48.31 %	33.42 %
Q4 2013	63.35 %	29.45 %	10.95 %
Q1 2014	56.16 %	30.06 %	8.06 %
Q2 2014	53.29 %	29.36 %	2.59 %
Q3 2014	56.55 %	26.11 %	3.35 %
Q4 2014	19.50 %	9.34 %	(30.25 %)
Q1 2015	52.11 %	25.80 %	(0.72 %)
Q2 2015	52.91 %	24.14 %	(3.34 %)
Q3 2015	54.73 %	22.18 %	(4.28 %)
Q4 2015	61.19 %	32.70 %	1.11 %
Q1 2016	55.95 %	32.52 %	0.57 %
Q2 2016	63.48 %	34.48 %	0.10 %
Q3 2016	59.39 %	27.65 %	(9.63 %)
Q4 2016	57.47 %	32.79 %	(2.41 %)
Q1 2017	58.11 %	34.35 %	(4.23 %)
Q2 2017	57.23 %	27.42 %	(6.65 %)
Q3 2017	59.59 %	41.19 %	(6.22 %)
Q4 2017	55.19 %	32.68 %	(6.43 %)
Q1 2018	58.70 %	36.32 %	(3.30 %)
Q2 2018	61.32 %	31.60 %	(2.72 %)
Q3 2018	59.08 %	44.38 %	1.76 %
Q4 2018	43.84 %	24.01 %	(12.96 %)
Q1 2019	57.44 %	38.70 %	2.94 %
Q2 2019	58.73 %	38.31 %	1.58 %
Q3 2019	59.21 %	38.52 %	2.12 %
Q4 2019	56.61 %	33.80 %	(3.55 %)
Q1 2020	57.38 %	36.89 %	3.62 %
Q2 2020	57.94 %	38.21 %	5.20 %
Q3 2020	61.28 %	40.36 %	6.61 %
Q4 2020	55.74 %	37.16 %	6.96 %
Q1 2021	57.50 %	37.67 %	6.27 %
Q2 2021	57.60 %	35.93 %	6.54 %
Q3 2021	60.62 %	38.64 %	7.79 %
Q4 2021	58.16 %	38.25 %	8.23 %
Q1 2022	58.71 %	37.75 %	8.37 %
Q2 2022	59.84 %	37.87 %	9.22 %
Q3 2022	60.10 %	38.61 %	9.73 %
Q4 2022	60.05 %	42.72 %	14.49 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2013	770.00	7.99	7.99	27.74
Q2 2013	770.00	8.23	8.23	28.68
Q3 2013	770.00	8.39	8.39	29.16
Q4 2013	770.00	6.53	6.53	27.42
Q1 2014	770.00	5.20	5.20	26.58
Q2 2014	770.00	3.22	3.22	25.45
Q3 2014	770.00	1.27	1.27	24.36
Q4 2014	770.00	(2.05)	(0.38)	21.63
Q1 2015	770.00	(2.51)	(0.82)	21.57
Q2 2015	770.00	(3.80)	(1.09)	20.40
Q3 2015	770.00	(4.17)	(1.46)	20.19
Q4 2015	770.00	(1.42)	(0.34)	20.21
Q1 2016	770.00	(1.34)	(0.28)	19.73
Q2 2016	770.00	(0.16)	(0.13)	19.73
Q3 2016	770.00	(0.17)	(0.29)	19.52
Q4 2016	770.00	(0.28)	(0.43)	19.42
Q1 2017	770.00	(0.51)	(0.61)	19.22
Q2 2017	770.00	(0.77)	(0.86)	18.97
Q3 2017	770.00	(0.78)	(0.72)	18.75
Q4 2017	770.00	(0.92)	(0.87)	18.51
Q1 2018	770.00	(0.83)	(0.83)	18.11
Q2 2018	770.00	(0.69)	(0.69)	17.98
Q3 2018	770.00	(0.50)	(0.39)	17.93
Q4 2018	770.00	(0.16)	(0.69)	18.01
Q1 2019	770.00	0.05	(0.44)	17.94
Q2 2019	770.00	0.20	(0.27)	17.97
Q3 2019	770.00	0.31	(0.25)	18.02
Q4 2019	770.00	0.04	0.12	17.86
Q1 2020	770.00	0.12	0.17	18.00
Q2 2020	770.00	0.31	0.34	18.21
Q3 2020	770.00	0.54	0.54	18.52
Q4 2020	770.00	1.02	1.02	18.76
Q1 2021	770.00	1.14	1.14	19.06
Q2 2021	770.00	1.22	1.22	18.89
Q3 2021	770.00	1.29	1.29	19.25
Q4 2021	770.00	1.39	1.39	19.74
Q1 2022	770.00	1.51	1.51	20.26
Q2 2022	770.00	1.66	1.66	19.87
Q3 2022	770.00	1.78	1.78	20.40
Q4 2022	770.00	2.15	2.15	21.24

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	770.00	6.09	6.09	27.42
2014	770.00	(2.05)	(0.38)	21.63
2015	770.00	(1.42)	(0.34)	20.21
2016	770.00	(0.28)	(0.43)	19.42
2017	770.00	(0.92)	(0.87)	18.51
2018	770.00	(0.16)	(0.69)	18.01
2019	770.00	0.04	0.12	17.86
2020	770.00	1.02	1.02	18.76
2021	770.00	1.39	1.39	19.74
2022	770.00	2.15	2.15	21.24

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	10.24	10.24	2.95
Q2 2013	9.84	9.84	2.82
Q3 2013	10.10	10.10	2.91
Q4 2013	13.09	13.09	3.12
Q1 2014	17.85	17.85	3.49
Q2 2014	25.37	25.37	3.21
Q3 2014	70.85	70.85	3.70
Q4 2014	NEG	NEG	2.03
Q1 2015	NEG	NEG	1.77
Q2 2015	NEG	NEG	1.66
Q3 2015	NEG	NEG	1.38
Q4 2015	NEG	NEG	1.40
Q1 2016	NEG	NEG	1.49
Q2 2016	NEG	NEG	1.39
Q3 2016	NEG	NEG	0.96
Q4 2016	NEG	NEG	1.24
Q1 2017	NEG	NEG	1.17
Q2 2017	NEG	NEG	1.08
Q3 2017	NEG	NEG	0.93
Q4 2017	NEG	NEG	0.80
Q1 2018	NEG	NEG	0.84
Q2 2018	NEG	NEG	1.09
Q3 2018	NEG	NEG	1.07
Q4 2018	NEG	NEG	0.92
Q1 2019	More than 100	NEG	1.21
Q2 2019	More than 100	NEG	1.36
Q3 2019	78.64	NEG	1.34
Q4 2019	More than 100	More than 100	1.40
Q1 2020	More than 100	More than 100	1.20
Q2 2020	84.77	77.99	1.46
Q3 2020	53.30	53.30	1.54
Q4 2020	28.17	28.17	1.53
Q1 2021	25.89	25.89	1.55
Q2 2021	27.23	27.23	1.76
Q3 2021	24.10	24.10	1.62
Q4 2021	22.38	22.38	1.58
Q1 2022	27.44	27.44	2.05
Q2 2022	21.05	21.05	1.76
Q3 2022	19.98	19.98	1.75
Q4 2022	16.15	16.15	1.64

Period	P/E	Adjusted P/E	Price/book
2013	14.03	14.03	3.12
2014	NEG	NEG	2.03
2015	NEG	NEG	1.40
2016	NEG	NEG	1.24
2017	NEG	NEG	0.80
2018	NEG	NEG	0.92
2019	More than 100	More than 100	1.40
2020	28.17	28.17	1.53
2021	22.38	22.38	1.58
2022	16.15	16.15	1.64

Business Segments (Million)

Compared With The

Period	Consumer revenues	Business revenues	Wholesale revenues	Outsourcing revenues
Q1 2016	2,905.06	326.39	193.99	14.83
Q2 2016	2,692.57	401.74	177.26	17.32
Q3 2016	2,420.53	327.20	168.43	15.67
Q4 2016	2,431.57	302.17	156.88	17.78
Q1 2017	2,393.89	305.26	147.21	18.70
Q2 2017	2,352.58	306.60	170.72	23.93
Q3 2017	2,301.05	291.18	190.42	23.10
Q4 2017	2,412.37	221.58	168.63	24.08
Q1 2018	2,327.43	311.53	167.46	26.10
Q2 2018	2,349.18	322.29	194.02	29.23
Q3 2018	2,360.77	340.77	240.49	34.04
Q4 2018	2,546.71	363.69	214.29	36.90
Q1 2019	2,526.02	367.74	266.72	40.49
Q2 2019	2,625.28	402.33	258.98	44.32
Q3 2019	2,614.08	454.71	289.17	45.76
Q4 2019	2,793.93	382.45	288.16	49.85
Q1 2020	2,756.69	472.95	318.35	51.63
Q2 2020	2,631.35	569.61	307.57	50.24
Q3 2020	2,515.82	473.22	314.99	50.97
Q4 2020	2,697.24	505.84	279.47	50.22
Q1 2021	2,694.80	577.46	276.56	53.86
Q2 2021	2,721.06	661.14	291.64	54.01
Q3 2021	2,590.94	629.31	323.69	62.19
Q4 2021	2,769.49	712.71	350.86	64.36
Q1 2022	2,741.92	627.89	367.11	74.09
Q2 2022	2,741.65	699.84	375.38	81.88
Q3 2022	2,674.17	671.52	393.76	88.16
Q4 2022	2,737.83	986.04	357.41	98.76

Period	Consumer revenues	Business revenues	Wholesale revenues	Outsourcing revenues
2016	10,449.73	1,357.51	696.57	65.59
2017	9,459.89	1,124.62	676.98	89.81
2018	9,584.10	1,338.26	816.26	126.26
2019	10,559.31	1,607.23	1,103.03	180.41
2020	10,601.10	2,021.62	1,220.39	203.07
2021	10,776.29	2,580.62	1,242.74	234.42
2022	10,895.58	2,985.29	1,493.66	342.89

Analysts Estimates (Million)

Item	Q4 2022 (e)	Q4 2022 (a)	Change‬
Average	375.04	605.89	61.55 %

Estimates vs Actual (Million)

Item	Q4 2022 (e)	Q4 2022 (a)	Change
Goldman Sachs	477.40	605.89	26.9 %
SNB Capital	401.00	605.89	51.1 %
OSOOL AND BAKHEET	395.14	605.89	53.3 %
FAB Securities	392.00	605.89	54.6 %
Sico	391.00	605.89	55.0 %
AlJazira Capital	391.00	605.89	55.0 %
U-Capital	389.40	605.89	55.6 %
Riyad Capital	383.00	605.89	58.2 %
Al Rajhi Capital	368.00	605.89	64.6 %
Bank of America	323.09	605.89	87.5 %
Hermes	319.00	605.89	89.9 %
UBS Saudi Arabia	270.45	605.89	124.0 %

Financial Ratios

	Current
Market Cap (M Riyal)	41,195.00
Enterprise Value (EV) (M)	44,729.68
Shares Outstanding ((M))	770.00
EPS ( Riyal) (TTM)	3.73
Book Value (BV) ( Riyal)	23.24
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	14.74
P/E (TTM)	14.34
Price/book	2.30
Return on Average Assets (%) (TTM)	7.4
Return on Average Equity (%) (TTM)	16.5

Etihad Etisalat Co. (ETIHAD ETISALAT)

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Mobily 2022 profit jumps 55% to SAR 1.65 bln; Q4 soars to SAR 606 mln

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Mobily 2022 profit jumps 55% to SAR 1.65 bln; Q4 soars to SAR 606 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) Q4 2022

Revenue by Business Segment (Latest) 2022 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Etihad Etisalat Co. (ETIHAD ETISALAT)

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Business Segments (Million)