Latest news with #EtihadEtisalatCompany
Zawya
23-04-2025
- Business
- Zawya
Saudi: Mobily logs $204.4mln profits in Q1-25
Etihad Etisalat Company (Mobily) generated SAR 767 million in net profit during the first quarter (Q1) of 2025, up 20.21% year-on-year (YoY) from SAR 638 million. The company's revenues increased by 5.10% to SAR 4.77 billion in Q1-25 from SAR 4.54 billion in Q1-24, according to the financial results. Earnings per share (EPS) reached SAR 1 as of 31 March 2025, compared to SAR 0.83 a year earlier. Quarterly, the Q1-25 profits dropped by 21.65% from SAR 979 million in Q4-24, while the revenues climbed by 1.70% from SAR 4.69 billion. Mobily's net profits witnessed an annual growth of 39.20% to SAR 3.10 billion in 2024, versus SAR 2.23 billion. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
20-02-2025
- Automotive
- Zawya
Mobily's profits leap 39% in 2024; dividends for H2-24 proposed
Riyadh: Etihad Etisalat Company (Mobily) posted 39.20% higher net profits at SAR 3.10 billion in 2024, compared to SAR 2.23 billion a year earlier, according to the financial results. Revenues hiked by 8.61% to SAR 18.20 billion last year from SAR 16.76 billion in 2023, while the earnings per share (EPS) increased to SAR 4.03 from SAR 2.90. Khalid Abdulrahman Abanami, Chief Financial Officer of Mobily, commented: 'We achieved an 11-year high net income, rising by 39.2% to SAR 3.1 billion. This growth was driven by a robust 8.60% increase in revenue along with operational excellence, leading to a solid 8.60% rise in EBITDA.' He added: 'We also shifted to semi-annual dividend distributions for the first time in a decade, increasing payouts by 51.70%, underscoring our ongoing commitment to delivering sustainable value to our shareholders.' Dividends for H2-24 The board members of Mobily recommended cash dividends of SAR 1 billion for the second half (H2) of 2024. The Saudi group will disburse a cash dividend of SAR 1.30 for 770 million shares. Eligibility and payment dates for the dividends will be 20 March and 9 April 2025, respectively. In the first nine months of 2024, Mobily's net profits hiked by 43.13% year-on-year (YoY) to SAR 2.12 billion from SAR 1.48 billion.
Reuters
19-02-2025
- Business
- Reuters
Major Gulf markets subdued on Trump's tariff threats
Feb 19 (Reuters) - Major stock markets in the Gulf were subdued in early trade on Wednesday, as investors exercised caution following U.S. President Donald Trump's latest tariff threats on auto, semiconductor and pharmaceutical imports. Since taking office last month, Trump has imposed a 10% tariff on imports from China, and announced plans for 25% tariffs on goods from Mexico and non-energy imports from Canada, although these have been delayed. Additionally, he has set a date for 25% tariffs on imported steel and aluminium, and is considering reciprocal tariffs on countries that tax U.S. imports. Saudi Arabia's benchmark index (.TASI), opens new tab edged 0.1% higher, supported by a 5.5% jump in telecom operator Etihad Etisalat Company (Mobily) ( opens new tab, following a significant increase in its annual profit. In a separate bourse filing, Mobily proposed a higher cash dividend of 1.3 riyals per share for the second half of the year. SAL Saudi Logistics Services Company ( opens new tab tumbled 8.5% to become the top loser in the index, following a decline in its fourth-quarter profit. The cargo firm also slashed its fourth-quarter cash dividend to 1.33 riyals apiece. In Abu Dhabi, the index (.FTFADGI), opens new tab fell 0.3%. Meanwhile, oil prices edged higher amid worries of oil supply disruptions in the U.S. and Russia, and as markets awaited clarity on the Ukraine peace talks. Dubai's main share index (.DFMGI), opens new tab eased 0.1%, with utility firm Dubai Electricity and Water Authority ( opens new tab losing 2.6%. The Qatari index (.QSI), opens new tab lost 0.1%, hit by a 0.8% fall in Qatar Navigation ( opens new tab.
Zawya
19-02-2025
- Business
- Zawya
Mideast Stocks: Major Gulf markets subdued on Trump's tariff threats
Major stock markets in the Gulf were subdued in early trade on Wednesday, as investors exercised caution following U.S. President Donald Trump's latest tariff threats on auto, semiconductor and pharmaceutical imports. Since taking office last month, Trump has imposed a 10% tariff on imports from China, and announced plans for 25% tariffs on goods from Mexico and non-energy imports from Canada, although these have been delayed. Additionally, he has set a date for 25% tariffs on imported steel and aluminium, and is considering reciprocal tariffs on countries that tax U.S. imports. Saudi Arabia's benchmark index edged 0.1% higher, supported by a 5.5% jump in telecom operator Etihad Etisalat Company (Mobily), following a significant increase in its annual profit. In a separate bourse filing, Mobily proposed a higher cash dividend of 1.3 riyals per share for the second half of the year. SAL Saudi Logistics Services Company tumbled 8.5% to become the top loser in the index, following a decline in its fourth-quarter profit. The cargo firm also slashed its fourth-quarter cash dividend to 1.33 riyals apiece. In Abu Dhabi, the index fell 0.3%. Meanwhile, oil prices edged higher amid worries of oil supply disruptions in the U.S. and Russia, and as markets awaited clarity on the Ukraine peace talks. Dubai's main share index eased 0.1%, with utility firm Dubai Electricity and Water Authority losing 2.6%. The Qatari index lost 0.1%, hit by a 0.8% fall in Qatar Navigation.
Zawya
13-02-2025
- Business
- Zawya
Mobily concludes its participation as a digital enabler at LEAP with global partnership agreements
Riyadh, Saudi Arabia – Etihad Etisalat Company (Mobily), a leading technology, media, and telecommunications company in Saudi Arabia, has signed several strategic partnership agreements with major global, regional, and local technology companies during its participation in LEAP 2025, held in Inspiration City, north of Riyadh, from February 9 to 12. These agreements span key technology domains, including digitalization, artificial intelligence, cybersecurity, and IoT solutions, with the goal of enhancing network infrastructure, supporting future technologies, and elevating the customer experience. Additionally, these partnerships aim to strengthen Saudi Arabia's economy, provide digital infrastructure services to international enterprises, and drive innovation in cloud computing. By collaborating with local, regional, and global partners, Mobily reaffirms its commitment to advancing the Kingdom's ICT sector and accelerating digital transformation across public and private sectors. These efforts will enhance operational efficiency, create significant investment opportunities, and establish a secure, resilient digital infrastructure. Recognizing the vital role of advanced digital infrastructure, such as high-speed internet networks and smart technologies, in attracting investment and fostering innovation, Mobily remains dedicated to leading the region's digital transformation. The company continues to invest in cutting-edge IoT technologies to unlock new opportunities and drive sustainable growth within the digital economy. During the conference, Mobily showcased 11 innovative digital solutions designed to support sustainable development and improve operational efficiency across multiple sectors, including telecommunications, education, healthcare, sports, smart cities, artificial intelligence, transportation, and gaming. Furthermore, Mobily announced an investment of over $905 million (SAR 3.4 billion) in data centers, submarine cables, and fiber networks. This investment reinforces Mobily's dedication to creating a business-friendly digital environment, accelerating digital transformation, and fostering an innovation-driven economy. It also underscores the company's commitment to delivering world-class digital infrastructure, meeting evolving market demands, and ensuring that Saudi Arabia remains a leader in the global digital landscape.
