Saudi Mobily's capex hits $719mln in H1 2025: Report
Capex hit 2.7 billion Saudi riyals ($719.73 million) in the first six months of the year, compared to SAR 700 million a year ago, Mobily CEO Nizar Banabeela told CNBC Arabia.
The telco spent SAR 566 million to enhance its infrastructure, develop frequency spectrums, and expand its 5G network in the second quarter of 2025, according to its financial statement.
In November, Mobily and state-backed Telecom Egypt signed a cooperation agreement to land the first Saudi submarine cable linking Saudi Arabia and Egypt.
The new cable, wholly owned by Mobily, will pass through the Red Sea, connecting Saudi Arabia and Egypt and opening the way for expansion and access to Europe through various connectivity options.
Mobily reported a 26 percent year-on-year increase in net profit to SAR 830 million in the second quarter of 2025, with revenues rising 8.1 percent annually to SAR 4.8 billion.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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