Mobily H1 2024 profit up 35% to SAR 1.29B, Q2 at SAR 661M

23/07/2024 Argaam Exclusive

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Etihad Etisalat Co. (Mobily) reported a 35% leap in H1 2024 net profit to SAR 1.29 billion, from SAR 962.2 million in the year-earlier period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	8,338.18	9,010.68	8.1 %
Gross Income	4,668.55	4,822.91	3.3 %
Operating Income	1,301.71	1,512.47	16.2 %
Net Income	962.24	1,298.89	35.0 %
Average Shares	770.00	770.00	-
EPS (Riyals)	1.25	1.69	35.0 %

Revenues grew in H1 2024 by 8.1% to SAR 9.01 billion from SAR 8.33 billion in the same period last year due to the expansion of all revenue streams, driven mainly by the business segment.

Gross profit increased by 3.3% to SAR 4.82 billion in H1 2024 versus SAR 4.66 billion in H1 2023, mirroring the growth in revenues.

Mobily’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 4.5% to SAR 3.30 billion in H1 2024, up from SAR 3.15 billion in H1 2023 on higher revenues.

EBITDA margin reached 36.6% in the current period versus 37.9% a year before.

Operating profit increased by 16.1% to SAR 1.51 billion in H1 2024, compared to SAR 1.30 billion in H1 2023, driven by the rise in EBITDA.

Financing charges decreased 14.8% YoY to SAR 297 million on a reduction in the debt portfolio.

Zakat and income tax amounted to SAR 63 million in H1 2024, compared to SAR 75 million a year before.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Revenues	4,268.54	4,465.20	4.6 %
Gross Income	2,398.60	2,377.96	(0.9 %)
Operating Income	665.97	759.25	14.0 %
Net Income	497.32	661.12	32.9 %
Average Shares	770.00	770.00	-
EPS (Riyals)	0.65	0.86	32.9 %

Item	Q1 2024	Q2 2024	Change‬
Revenues	4,545.48	4,465.20	(1.8 %)
Gross Income	2,444.96	2,377.96	(2.7 %)
Operating Income	753.22	759.25	0.8 %
Net Income	637.77	661.12	3.7 %
Average Shares	770.00	770.00	-
EPS (Riyals)	0.83	0.86	3.7 %

The second-quarter net profit climbed 33% to SAR 661 million from SAR 497.32 million in Q2 2023, driven mainly by higher revenues and EBITDA as well as lower Zakat and income tax.

Sequentially, Q2 2024 net profit rose 3.6% from SAR 637.77 million in Q1 2024.

Shareholders’ equity, no minority interest, increased to SAR 17.76 billion as of June 30, 2024, from SAR 16.40 billion a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %
Q1 2023	4,069.64	6.8 %	2,269.95	1.4 %	635.74	37.9 %
Q2 2023	4,268.54	9.5 %	2,398.60	2.8 %	665.97	29.8 %
Q3 2023	4,118.10	7.6 %	2,319.24	0.8 %	692.30	31.9 %
Q4 2023	4,306.00	3.0 %	2,265.00	(9.8 %)	983.00	18.5 %
2023	16,762.68	6.7 %	9,451.89	0.8 %	2,977.26	27.9 %
Q1 2024	4,545.48	11.7 %	2,444.96	7.7 %	753.22	18.5 %
Q2 2024	4,465.20	4.6 %	2,377.96	(0.9 %)	759.25	14.0 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %
2023	16,762.68	6.7 %	9,451.89	0.8 %	2,977.26	27.9 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
Q1 2023	464.92	45.7 %	0.60	-	464.92	0.60
Q2 2023	497.32	38.3 %	0.65	-	497.32	0.65
Q3 2023	523.83	40.6 %	0.68	-	523.83	0.68
Q4 2023	746.00	23.1 %	0.97	(61.50)	807.50	1.05
2023	2,231.98	34.7 %	2.90	(61.50)	2,293.47	2.98
Q1 2024	637.77	37.2 %	0.83	-	637.77	0.83
Q2 2024	661.12	32.9 %	0.86	-	661.12	0.86

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
2023	2,231.98	34.7 %	2.90	(61.50)	2,293.47	2.98

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
Q1 2023	58.92 %	39.45 %	11.28 %
Q2 2023	57.99 %	39.29 %	11.87 %
Q3 2023	57.09 %	39.33 %	12.57 %
Q4 2023	55.20 %	39.52 %	13.68 %
2023	56.39 %	39.52 %	13.68 %
Q1 2024	54.69 %	38.94 %	14.31 %
Q2 2024	53.96 %	38.82 %	15.09 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
2023	56.39 %	39.52 %	13.68 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
Q1 2023	55.78 %	38.39 %	11.42 %
Q2 2023	56.19 %	37.38 %	11.65 %
Q3 2023	56.32 %	38.84 %	12.72 %
Q4 2023	52.60 %	43.35 %	18.75 %
Q1 2024	53.79 %	36.33 %	14.03 %
Q2 2024	53.26 %	36.96 %	14.81 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q1 2023	770.00	2.34	2.34	21.83
Q2 2023	770.00	2.52	2.52	21.31
Q3 2023	770.00	2.72	2.72	21.96
Q4 2023	770.00	2.90	2.98	22.89
Q1 2024	770.00	3.12	3.20	23.72
Q2 2024	770.00	3.34	3.42	23.07

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
2023	770.00	2.90	2.98	22.89

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q1 2023	17.62	17.62	1.89
Q2 2023	19.01	19.01	2.25
Q3 2023	16.40	16.40	2.03
Q4 2023	16.92	16.47	2.14
Q1 2024	16.78	16.36	2.21
Q2 2024	15.50	15.14	2.24

Period	P/E	Adjusted P/E	Price/book
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
2023	16.92	16.47	2.14

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
Q1 2023	2,769.71	821.61	367.09	111.24
Q2 2023	2,785.59	933.26	435.60	114.09
Q3 2023	2,677.51	919.07	435.57	85.96
Q4 2023	2,847.64	938.63	421.93	98.49
Q1 2024	2,931.66	1,063.04	449.33	101.45
Q2 2024	2,837.89	1,045.77	480.34	101.21

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
2023	11,080.64	3,612.63	1,659.93	409.49

Analysts Estimates (Million)

Item	Q2 2024 (e)	Q2 2024 (a)	Change‬
Average	648.32	661.12	1.97 %

Estimates vs Actual (Million)

Item	Q2 2024 (e)	Q2 2024 (a)	Change
Al Rajhi Capital	659.00	661.12	0.3 %
Sico	657.00	661.12	0.6 %
U-Capital	656.70	661.12	0.7 %
AlJazira Capital	653.00	661.12	1.2 %
SNB Capital	649.00	661.12	1.9 %
Riyad Capital	647.00	661.12	2.2 %
YAQEEN	688.00	661.12	(3.9) %
OSOOL AND BAKHEET	635.85	661.12	4.0 %
Goldman Sachs	623.70	661.12	6.0 %
Value Capital	757.64	661.12	(12.7) %
United Securities Company	583.00	661.12	13.4 %
UBS Saudi Arabia	570.00	661.12	16.0 %

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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Financials (M)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

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Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

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Mobily H1 2024 profit up 35% to SAR 1.29B, Q2 at SAR 661M

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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) Q2 2024

Revenue by Business Segment (Latest) 2024 Q2

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)