Home / Mobily reports revenue growth in Q2 2019

Mobily reports revenue growth in Q2 2019

Mobily says it’s continued to grow its revenues for the seventh consecutive quarter in a row

Mobily reports revenue growth in Q2 2019
Salman Albadran, Mobily CEO

Mobily has reported revenue growth for the seventh consecutive quarter to reach SAR 3.3 billion in Q2 2019, with a YoY growth of 15.1%.

This is mainly attributed to the growth of revenues of business and wholesale units, the growth of FTTH active base, and the continued growth and better mix of subscribers' base.

In addition, the company continued delivering positive net results for the third consecutive quarter, as Q2 2019 net result reached SAR 37.77 million compared to a loss of SAR 78.62 million in Q2 2018 while QoQ comparison shows a decrease by 48.8%.

This is mainly due to the increase in selling and marketing expenses caused by the seasonality of Q2 2019, which included the month of Ramadan, as well as Q1 2019 contained an improvement in the collection of government fees for the business and wholesale units that led to reversing related provisions and  improving the profitably of Q1 2019.

Moreover, Mobily succeeded in increasing its EBITDA to reach SAR 1,221 million in Q2 2019, with YoY increase of 14.5%. The EBITDA increase is attributed to the growth of revenues, the improvement in operational performance and the implementation of IFRS16.

Capex in H1 2019 reached SAR 1,126 million; reflecting the company's continuous commitment to invest in its infrastructure and continue to develop its services, and improve the quality of services and customer experience.

In addition, Mobily substantially improved its H1 2019 operational cash flow (EBITDA-CAPEX) by 83.7% to reach SAR 1,368 million.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

CHANNEL AWARD 2018