Mobily 9M 2024 profit up 43% to SAR 2.12B; Q3 at SAR 828.6M

27/10/2024 Argaam Exclusive

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Etihad Etisalat Co. (Mobily) reported a net profit of SAR 2.12 billion for first nine months of 2024, an increase of 43% from SAR 1.48 billion in the prior-year period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	12,456.29	13,509.24	8.5 %
Gross Income	6,987.79	7,248.91	3.7 %
Operating Income	1,994.01	2,332.69	17.0 %
Net Income	1,486.07	2,127.44	43.2 %
Average Shares	770.00	770.00	-
EPS (Riyals)	1.93	2.76	43.2 %

Mobily’s revenues grew 8.5% year-on-year (YoY) to SAR 13.50 billion in nine months to Sept. 30, 2024, as all revenue streams expanded driven mainly by the business segment.

Gross profit climbed 5.7% YoY to SAR 7.38 billion, mirroring the growth in revenues, as well as the positive impact of a withholding tax reversal amounting to SAR 140 million.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 8.2% YoY to SAR 5.14 billion.

The EBITDA margin reached 38.1% in the current period versus 38.2% in the similar period last year.

Operating profit increased 24% YoY to SAR 2.47 billion, while financing charges fell by 9.2% YoY to SAR 463 million in 9M 2024 due to a reduction in the debt portfolio.

Zakat & income tax amounted to SAR 93 million, down from SAR 123 million for the similar period of the previous year.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	4,118.10	4,498.56	9.2 %
Gross Income	2,319.24	2,426.00	4.6 %
Operating Income	692.30	820.22	18.5 %
Net Income	523.83	828.55	58.2 %
Average Shares	770.00	770.00	-
EPS (Riyals)	0.68	1.08	58.2 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	4,465.20	4,498.56	0.7 %
Gross Income	2,377.96	2,426.00	2.0 %
Operating Income	759.25	820.22	8.0 %
Net Income	661.12	828.55	25.3 %
Average Shares	770.00	770.00	-
EPS (Riyals)	0.86	1.08	25.3 %

Q3 2024 net profit surged 58% YoY to SAR 828.5 million, from SAR 523.8 million a year earlier.

On a sequential basis, Q3 earnings grew 25.3% from SAR 661.12 million in Q2 2024.

Total shareholders’ equity, no minority interest, stood at SAR 17.89 billion by the end of 9M 2024, compared to SAR 16.91 billion in the year-earlier period.

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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 %
Q3 2024	4,498.56	9.2 %	2,426.00	4.6 %	820.22	18.5 %

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
Q3 2024	828.55	58.2 %	1.08	140.00	688.55	0.89

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 %
Q3 2024	53.40 %	38.59 %	15.69 %

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 %
Q3 2024	53.93 %	37.93 %	15.31 %

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
Q3 2024	770.00	3.73	3.63	23.24

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
Q3 2024	13.77	14.16	2.21

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
Q3 2024	2,829.45	1,085.14	478.62	105.35

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	Q3 2024 (e)	Q3 2024 (a)	Change‬
Average	652.76	828.55	26.93 %

Estimates vs Actual (Million)

Item	Q3 2024 (e)	Q3 2024 (a)	Change
UBS Saudi Arabia	689.10	828.55	20.2 %
SNB Capital	687.00	828.55	20.6 %
Sico	685.00	828.55	21.0 %
Hermes	672.00	828.55	23.3 %
Goldman Sachs	670.00	828.55	23.7 %
Al Rajhi Capital	664.00	828.55	24.8 %
Riyad Capital	658.00	828.55	25.9 %
OSOOL AND BAKHEET	653.69	828.55	26.7 %
Value Capital	646.43	828.55	28.2 %
AlJazira Capital	632.00	828.55	31.1 %
U-Capital	625.70	828.55	32.4 %
YAQEEN	610.00	828.55	35.8 %
United Securities Company	593.00	828.55	39.7 %

Financial Ratios

	Current
Market Cap (M Riyal)	40,656.00
Enterprise Value (EV) (M)	44,190.68
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)	14.55
P/E (TTM)	14.15
Price/book	2.27
Return on Average Assets (%) (TTM)	7.4
Return on Average Equity (%) (TTM)	16.5

Etihad Etisalat Co. (ETIHAD ETISALAT)

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Mobily 9M 2024 profit up 43% to SAR 2.12B; Q3 at SAR 828.6M

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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)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Mobily 9M 2024 profit up 43% to SAR 2.12B; Q3 at SAR 828.6M

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 2024

Revenue by Business Segment (Latest) 2024 Q3

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)