Etihad Atheeb Telecommunication Co. (GO) announces its consolidated Interim Financial results for the Period Ending on 30-09-2025 (Six Months)

05 November 2025 03:37 PM

GO TELECOM 7040 -12.66% 87.25 -12.65

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	470	347	35.446	435	8.045
Gross Profit (Loss)	134	107	25.233	120	11.666
Operational Profit (Loss)	66	59	11.864	69	-4.347
Net profit (Loss)	65	59	10.169	62	4.838
Total Comprehensive Income	65	59	10.169	62	4.838
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	906	657	37.899
Gross Profit (Loss)	254	195	30.256
Operational Profit (Loss)	136	110	23.636
Net profit (Loss)	127	105	20.952
Total Comprehensive Income	127	105	20.952
Total Shareholders Equity (after Deducting Minority Equity)	882	654	34.862
Profit (Loss) per Share	3.73	3.1
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	The Group continued to achieve revenue growth of 35% (SAR 123 million) in the current quarter compared to the same quarter of the previous year. This is primarily attributed to the implementation of the Group's growth strategy and the following factors: - A 16% increase in the B2B Sector revenue (SAR 29 million), mainly due to increased sales resulting from projects with government entities and private sector companies. - Net increase in wholesale sector and B2C sector revenue of 37% (amount of SAR 61 million), driven by growth in voice and fiber optic connectivity services. - The subsidiary, Ejad Technology, recorded revenue of SAR 33 million.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The Group achieved a net profit of SAR 65 million, compared to SAR 59 million for the same quarter of the previous year, with an increase of 10%. This increase is attributed to the following factors: An increase of SAR 123 million in revenue, a decrease of SAR 2.6 million in expected credit losses on trade receivables, and a SAR 5 million decrease in finance expenses compared to the same quarter of the previous year, resulting from the recognition of SAR 11 million in income on Murabaha Islamic Financing during the current quarter. Noting that the increase in revenues and the group’s expansions led to an increase in the cost of revenues by SAR 97 million, an increase in general and administrative expenses by SAR 16 million, and an increase in selling and marketing expenses by SAR 3 million.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The group continued to achieve growth in total revenues of 8%. The increase in revenues during the current quarter by 35 million Saudi Riyals compared to the previous quarter is mainly due to the increase in revenues of the B2B sector and the wholesale sales sector.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The Group achieved a net profit of SAR 65 million, compared to SAR 62 million in the previous quarter. This increase is attributed to the following factors: - A SAR 35 million increase in revenue, offset by a SAR 21 million increase in the cost of revenue, and a SAR 5 million decrease in finance expenses.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is	The group achieved a 38% increase in revenues equivalent to SAR 248 million during the current six-month period, compared to the same period of the previous year. This is attributed to a 19% increase in B2B sector sales (SAR 63 million) and revenues of the subsidiary (Ejad Technology) amounting to SAR 66 million from systems analysis, application design and development services, in addition to a 38% increase in net at wholesale and B2C sectors (SAR 119 million).
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The group achieved a net profit of SAR 127 million during the current period, compared to SAR 105 million in the same period of the previous year, with a growth rate of 21%. This is due to the increase in revenues of SAR 248 million, which was offset by an increase in the cost of revenues of SAR 189 million. Also, the results of the subsidiary company Ejad Tech. were also recorded.
Statement of the type of external auditor's report	Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	N/A
Reclassification of Comparison Items	N/A
Additional Information	The profit before depreciation, amortization, interest, zakat, and taxes (EBITDA) for the current period amounted to SAR 168 million, compared to SAR 139 million for the same period of the previous year, an increase of SAR 29 million, or 21%, and the Total shareholders' equity (excluding non-controlling interests) also increased by 35% from SAR 654 million at the end of the same period of the previous year to SAR 882 million at the end of the current period. Which highlights the Group’s continued commitment to enhancing operational and financial performance with high efficiency. Regarding Ejad Technology, the group is still working on finalizing the Purchase Price Allocation (PPA) process and its impact, if any, which will be reflected one year from the date of acquisition, December 11, 2024. Based on the IFRS.

Comments