Latest news with #EtihadEtisalat
Reuters
4 days ago
- Business
- Reuters
Most Gulf bourses fall on US tariff concerns, weaker oil
July 22 (Reuters) - Most Gulf stock indexes dipped on Tuesday, as investors worried about fading prospects of the European Union's trade deal with the United States ahead of a looming tariff deadline, with weak oil prices offsetting strong corporate earnings. The EU is exploring broader counter-measures against the U.S. as prospects of an acceptable trade agreement with Washington wane, according to EU diplomats. U.S. President Donald Trump's imposition of tariffs around the world risks hurting global economic growth, and with it oil consumption. Saudi Arabia's benchmark index (.TASI), opens new tab retreated 1.3%, after snapping its longest downturn in nearly two years in the previous session as broad sector declines and weaker oil prices outweighed upbeat corporate earnings. Al Rajhi Bank ( opens new tab dropped 1% and oil giant Saudi Aramco ( opens new tab decreased 0.5%. Oil prices declined for a third consecutive session on concerns that a brewing trade war between major crude consumers, the U.S. and the EU, will curb fuel demand growth by reducing economic activity. But Etihad Etisalat ( opens new tab rose 1.9% after posting a 25% rise in second-quarter profit, while Saudi Automotive Services ( opens new tab gained 1.5% following a more-than-twofold-jump in quarterly earnings. Elsewhere, shares of Sport Clubs ( opens new tab surged 24% on their market debut. Saudi Exchange allows 30% fluctuation limit for newly-listed stocks during their first three days of trading. Dubai's main share index (.DFMGI), opens new tab eased 0.3%, marking the third straight session of losses as investors remained cautious ahead of key earnings and locked in profits following a multi-year rally. Index heavyweight Dubai Islamic Bank ( opens new tab dropped 1.2% while budget carrier Air Arabia ( opens new tab fell over 3%, ending a five-session winning streak. In Abu Dhabi, the index (.FTFADGI), opens new tab was under pressure as a wave of earnings releases this week kept many investors on the sidelines. Qatar's stock index (.QSI), opens new tab reversed early losses to finish 1.1% higher, reaching its highest level in more than two and a half years, as nearly all sectors advanced. Banking stocks led the advance, supported by strong earnings. Qatar Islamic Bank ( opens new tab soared 6%, rising for a fourth straight session after reporting upbeat results. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab declined 1%, pulling back from a record high.
Argaam
24-07-2025
- Business
- Argaam
Anmat wins Mobily contract worth up to SAR 50M
Anmat Technology Trading Co. secured a purchase order contract from Etihad Etisalat Co. (Mobily) with a maximum value of SAR 50 million, it said in a statement to Tadawul. The contract, signed on July 22, runs through May 15, 2028, and covers the construction and rehabilitation of wireless tower systems across Mobily sites, based on operational needs. Anmat expects the deal to begin positively impacting its revenue and profits from H2 2025 and throughout the contract period.
Argaam
23-07-2025
- Business
- Argaam
Mobily eyes revenue growth, up to 38% EBITDA margin: Acting CFO
Etihad Etisalat Co. (Mobily) is one of the few Saudi companies providing annual financial guidance, according to Acting CFO Ibrahim Al Tukhaifi, who said the company targets single-digit revenue growth and an EBITDA margin of 37% to 38% in Q3 2025. In an interview with Argaam, Al Tukhaifi said Mobily aims to maintain a net debt-to-EBITDA ratio of 1x and keep capital expenditure at 16%–18% of revenue, noting that H1 results reflect solid progress toward these targets and support long-term value creation for shareholders and stakeholders. He reported that Mobily delivered solid financial and operational results in Q2, with earnings growth driven by increased revenue across all segments and ongoing efficiency gains that supported EBITDA. Gross profit and EBITDA rose 10.3% and 10.5% year-on-year (YoY), respectively, as the enterprise segment expanded through new data centers and the consumer segment benefited from loyalty programs and strategic partnerships. He added that the carrier segment contributed by delivering tailored digital solutions to businesses and cloud providers. He pointed out that Mobily's mobile subscriber base reached 12.8 million by the end of Q2, marking a 5% YoY increase, while fiber subscribers totaled 289,000, supported by expanded service offerings and improved support channels, noting that the company has maintained a strong EBITDA margin over the past five years. The company's long-term investment strategy focuses on digital transformation and infrastructure upgrades, including 5G, IoT, data centers, and subsea cables, CFO added. During the period, Mobily launched the Red Sea Cable, the first fully Saudi-owned subsea cable, linking Saudi Arabia and Egypt, with the aim of enhancing digital connectivity between Asia, Africa, and Europe. Mobily secured new spectrum licenses to enhance network quality and capacity, with Al Tukhaifi stating that infrastructure investments will continue while the company maintains a healthy capital structure and delivers strong returns.
Zawya
23-07-2025
- Business
- Zawya
Saudi: Mobily generates nearly $426mln net income in H1-25, unveils dividends
Riyadh – Etihad Etisalat Company (Mobily) achieved net profits worth SAR 1.59 billion in the first half (H1) of 2025. The net income marked a 22.94% growth from SAR 1.29 billion in H1-24, according to the income statements. The earnings per share (EPS) rose to SAR 2.07 as of 30 June 2025 compared with SAR 1.69 in the same period a year earlier. The Saudi telecom operator generated revenue of SAR 9.60 billion during January-June 2025, which signaled a 6.60% increase from SAR 9.01 billion in the same six months (6M) a year ago. Second Quarter Results In the second quarter (Q2) of 2025, Mobily also witnessed a net profit growth of 25.56% to SAR 830 million from SAR 661 million in Q2-24. The company posted an 8.12% rise in revenue to SAR 4.82 billion during the April-June 2025 period when compared to SAR 4.46 billion in the same quarter a year ago. On a quarterly basis, Mobily registered an 8.21% increase in Q2-25 net profit from SAR 767 million in Q1-25 and the revenues were 1.06% higher than SAR 4.77 billion. Dividends The board members of Mobily decided, in 21 July 2025 meeting, to distribute a total of SAR 924 million as cash dividends for H1-25. The company will pay SAR 1.20 per share, accounting for 12% of the share par value, for 770 million eligible shares. Mobily announced the eligibility and distribution dates for H1-25 dividends as 31 July and 19 August, respectively. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
08-05-2025
- Business
- Zawya
Mideast Stocks: Gulf bourses end mixed on earnings, focus on US-China talks
Stock markets in the Gulf ended mixed on Thursday on corporate earnings announcements, while investors awaited the outcome of U.S.-China trade talks this weekend. U.S. President Donald Trump on Wednesday suggested China initiated the trade talks, adding he was not willing to cut U.S. tariffs on Chinese goods to get Beijing to negotiations. Treasury Secretary Scott Bessent said the upcoming talks were a start, not 'advanced' discussions. Saudi Arabia's benchmark index dropped 0.3%, hit by a 1.4% fall in Saudi Arabian Mining Company and a 2.7% decrease in Etihad Etisalat Company. Elsewhere, Middle East Healthcare Company plunged about 9% - its biggest intraday fall in over a month - despite reporting a sharp rise in quarterly profit. Dubai's main share index dropped 0.4%, with blue-chip developer Emaar Properties retreating 1.1%. Meanwhile, the U.S. Federal Reserve held interest rates steady on Wednesday but said risks of higher inflation and unemployment had risen, as its policymakers grapple with the impact of Trump's tariffs. The Fed's decisions impact monetary policy in the Gulf, where most currencies, including dirhams, are pegged to the U.S. dollar. The United Arab Emirates Central Bank has maintained its base rate at 4.40%, keeping monetary policy steady. In Abu Dhabi, the index added 0.2%, supported by a 1.9% rise in ADNOC Drilling Company, a day after reporting a 25% jump in first-quarter profit. Oil prices - a catalyst for the Gulf's financial markets - rose over 1%, buoyed by hopes of a breakthrough in looming trade talks between the United States and China, the world's two largest oil consumers. The Qatari index finished 0.4% higher, with the Gulf's biggest lender Qatar National Bank gaining 0.4%. Outside the Gulf, Egypt's blue-chip index eased 0.2%. Egypt's headline inflation is expected to have edged up in April, boosted in part by an increase in fuel prices early in the month, a Reuters poll found. SAUDI ARABIA fell 0.3% to 11,364 Abu Dhabi added 0.2% to 9,634 Dubai dropped 0.4% to 5,314 QATAR gained 0.4% to 10,520 EGYPT down 0.2% to 31,772 BAHRAIN was up 0.3% to 1,917 OMAN closed flat at 4,352 KUWAIT finished flat at 8,667 (Reporting by Ateeq Shariff in Bengaluru; Editing by Shailesh Kuber)
