Mobily quarterly loss down by 49%

Updated 26 April 2018
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Mobily quarterly loss down by 49%

Saudi telecom provider Mobily decreased its quarterly losses in Q1 2018 by 49 percent to SR93 million ($24.84 million) compared with SR182 million in Q4 2017. This was mainly due to a growth of revenues driven by a better mix of products mainly from data, the increase of efficiency in managing operational expenses, the impact of implementing IFRS 9 and 15, and the reversal of certain provisions that are no longer required, according to the company.

Revenues improved for the second consecutive quarter reaching SR2,833 million in Q1 2018 compared with SR2,827 million in Q4 2017, a slight increase of 0.2 percent, despite the following:

l The impact on sales at the beginning of the year due to the implementation of the value-added tax (VAT). 

l The reduction in interconnection rates by 45 percent.

l The seasonality of handset sales, and its increase in Q4 2017.

l The seasonal decrease related to the number of days in Q1. 

Without the decrease of the interconnection rates, revenues would have grown by 2 percent.

Mobily’s gross profit increased in Q1 2018 by 6.6 percent to SR1,663 million compared with SR1,560 million in Q4 2017. This increase is mainly due to the reduction in interconnection rates during Q1 2018 compared with those of Q4 2017 and the reduction in equipment costs in Q1 2018 compared with Q4 2017.

Mobily managed to grow its revenues for the second consecutive quarter. Q1 2018 revenues slightly decreased by one percent (SR33 million) to SR2,833 million compared with SR2,865 million in Q1 2017. Mobily achieved a stable level in revenues despite the general economic and regulatory changes, including the impact on sales in the beginning of the year due to the implementation of VAT, and the reduction in interconnection rates by 45 percent.

Without the decrease of the interconnection rates, the revenues would have grown by one percent year over year.

The gross profit stabilized at SR1,663 million in Q1 2018 compared to SR1,665 million in Q1 2017 with a slight decrease by 0.12 percent, despite the slight decrease in revenues.


Dhaka-bound passengers from Jeddah reach home

Updated 24 May 2018
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Dhaka-bound passengers from Jeddah reach home

  • All 141 passengers and 10 crew members onboard were evacuated safely, and were cared for by the airline’s ground operations team and airport personnel.
Saudi Arabian Airlines (Saudia), the national flag carrier of the Kingdom, greeted passengers returning to Dhaka following a brief stay in Jeddah due to an irregular occurrence on one of its aircraft.
Flight SV3818 operating from Madinah to Dhaka on Monday diverted to Jeddah for an emergency landing due to nose gear malfunction, which became apparent mid-flight. The aircraft was an Airbus A330-200, wet-leased to Saudia.
All 141 passengers and 10 crew members onboard were evacuated safely, and were cared for by the airline’s ground operations team and airport personnel.
Upon concluding all safety and health checks, the passengers were cleared to fly the next day. The Saudia ground operations team conducted all formalities and clearances in order for the guests to fly to Dhaka at 7:30 p.m. Jeddah local time on Tuesday.
Greeting the guests at King Abdulaziz International Airport in Jeddah prior to departure was Director General of Saudi Arabian Airlines, Saleh bin Nasser Al-Jasser, along with representatives from the airline, civil aviation authority and crew.
“Saudia thanks the onboard crew, General Authority of Civil Aviation, and King Abdul Aziz International Airport control for providing their cohesive, full support and cooperation during the event,” the airline said in a statement.
The flight arrived in Dhaka at 4:48 a.m. Dhaka time on Wednesday where they were met by the Saudia country manager and the station staff.
Currently in its 73rd year of operations, Saudia is a member of the International Air Transport Association (IATA) and the Arab Air Carriers Organization (AACO).
The airline currently flies to 90 destinations across four continents with a fleet of 147 narrow and widebody aircraft.
At the 2017 Skytrax Awards held at the Paris Air Show, Saudia was awarded the “World’s Most Improved Airline” of the year.