Mobily reports decreased loss and increased revenue for Q1

Growing revenues from data, better efficiency in managing operational expenses and reduced interconnection contribute to better performance for the Saudi operator
Saudi telecoms, Saudi Arabia, Mobily, MOBILE FINANCIALS, Q1 results, Q1 2018, TELECOM REVENUES, SAUDI TELCOS

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Mobily has decreased its quarterly losses in Q1 2018 by 49% to SAR 93 million ($24.8 million) compared to SAR 182 million($48.53 million) in Q4 2017.

The operator has attributed the improved performance to the growth of revenues driven by better mix of products mainly from data, the increase of efficiency in managing the operational expenses, the impact of implementing IFRS 9 and 15 and the reversal of certain provisions that are no longer required.

Revenues improved for the second consecutive quarter reaching in Q1 2018 SAR 2,833 million($755.4 million) compared to SAR 2,827 million($753.8 million) in Q4 2017 marking a slight increase of 0.2%. 

EBITDA amounted in Q1 2018 to SAR 1,036 million($276.2 million) compared to SAR 911 million($243 million) in Q4 2017. EBITDA margin improved to 37% compared to 32% in Q4 2017.

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