Riyadh – Mubasher: 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.
