Saudi telco Mobily's QoQ results for Q4, 2017 showed an increase in losses by 4%, while YoY results marked a rise in losses by 11million SAR($2.9 million), and FY-17 showed an increase in loss compared to FY-16.
Revenues for 2017 declined by 9.7% YoY. Q4 marked a first quarter of growth by 0.7% versus the previous quarter, despite a challenging year where revenues remained under pressure.
The operator has attributed this to pressure on consumers' purchasing power, decrease in interconnection rates as a result of mobile termination rate reduction, intensified competition and challenging regulatory environment.
The company maintained a flat EBITDA margin in Q4, 2017 (versus Q3, 2017 and Q4, 2016), and in FY-17 (versus FY-16).
The year 2017 marked Mobily's conclusion of a seven years' refinancing facility (valued at 7.9 billion SAR or $2.1 billion) with a group of Saudi banks, releasing liquidity risk and re-profiling the debt of the company to match its cash flow. The company also went ahead with a new vision and brand positioning. It revamped its product portfolio, organisational structure, sales model, and started large scale IT transformation and network modernisation.