Mobile Telecommunications Company Saudi Arabia (7030) Q4 2024 earnings summary

Executive summary

• Achieved revenue of SAR 10.4 billion in 2024, a 5% increase year-over-year, with net profit rising to SAR 596 million.

• Maintained strong EBITDA of SAR 3.3 billion, up 12% from the previous year.

• Continued network expansion, including SAR 1.6 billion investment in 5G and full 5G coverage of Holy Sites.

• Recognized for excellence in ESG, diversity, and social responsibility, earning multiple awards.

Financial highlights

• Revenue grew 5% year-over-year to SAR 10,365 million; gross profit reached SAR 6,471 million with a 62% margin.

• EBITDA margin improved to 32%; operational income increased 38% to SAR 1,199 million.

• Net profit rose 8% to SAR 596 million, with a profit margin of 6%.

• Free cash flow increased 79% to SAR 1,461 million; cash balance at year-end was SAR 946 million.

• CAPEX rose 56% to SAR 1,482 million, representing 14% of revenues.

Outlook and guidance

• Focus on digital transformation, network leadership, and business diversification aligned with Saudi Vision 2030.

• Ongoing investment in 5G and digital services to drive future growth.