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MENAFN - Arab News - 16/01/2014

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(MENAFN - Arab News) Revenues for the 12-month period ended Dec. 31, 2013 recorded SR25.19 billion compared to SR23.59 billion for the same period of the previous year, an increase of 7 percent, according to Etihad Etisalat Company's (Mobily's)annual consolidated financial results for the period ending Dec. 31, 2013.

Announcing the results, the company said its revenues of the fourth quarter of 2013 amounted to 7.20 billion compared to SR6.43 billion for the previous quarter, an increase of 12 percent, and compared to SR6.76 billion for the fourth quarter of the previous year, an increase of 7 percent.

The gross profit margin increased during the 12-month period to 51 percent, an increase that can be attributed to the improved quality and mix of revenues.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased during the 12-month period to SR9.19 billion compared to SR8.53 billion for the same period of the previous year.

The net profit for the 12-month period amounted to SR6.68 billion compared to SR6.02 billion for the same period of the previous year, an increase of 11 percent (SR2.04 billion net profits for the fourth quarter against SR1.69 billion for the previous quarter, an increase of 21 percent, and against SR1.88 billion for the same period of the previous year, an increase of 9 percent.

Earnings per share for the 12-month period amounted to SR8.67 compared to SR7.82 for the same period of the previous year, an increase of 11 percent.

Earnings per share from operating income and from net income for the year is calculated by dividing operating income and net income for the period by the weighted average for the outstanding number of ordinary shares amounting to 770 million shares as at Dec. 31, 2013 and 2012.

Earnings per share from income from main operations and from net income for the year ended Dec. 31, 2012 have been recalculated retroactively based on the new number of shares to reflect the increase in share capital amounting to SR700 million.

Revenues from data recorded 28 percent of the total revenues of the company during the 12-month period, driven by the higher revenues of fiber-optic and mobile broadband networks and they are expected to exceed 32 percent of the total revenues in 2014.

In this regard, Mobily has completed linking more than 530,000 residential units to its fiber-optic network and it aims to link a total 1.2 million units by the end of 2014.

Revenues from the business sector increased during the 12-month period by 23 percent compared to the corresponding period of the previous year, backed by a remarkable rise in the revenues of hosting and managed services, which constitute an integral part of the integrated ICT solutions; in addition to the increase in revenues from transmission and interconnection links.

The business sector revenues contribution to the company's total revenues recorded a rate of 8 percent, excluding revenues from equipment and small offices/home offices (SoHo).

 






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