Mobily continues revenue growth for 8 quarters in row

Updated 23 October 2019

Mobily continues revenue growth for 8 quarters in row

Mobily continued to grow its revenues for the eighth consecutive quarter to reach SR3.4 billion ($892 million) in Q3 2019, with a YoY growth of 14.4 percent. This is mainly attributed to the growth of its subscribers’ base, the growth of revenues of business and wholesale units, and the growth of its FTTH active base.

The company continued delivering positive net results for the fourth consecutive quarter, as the Q3 2019 net result highlighted a YoY growth by 82 percent to reach SR51 million compared to a loss of SR31 million in Q3 2018, and a QoQ improvement by 13 percent compared to a profit of SR38 million in Q2 2019.  This is mainly due to an improvement in topline and operational performance and due to the strong and healthy EBITDA.

Mobily succeeded in increasing its EBITDA to reach SR1,277 million in Q3 2019, with a YoY increase of 17.4 percent. The EBITDA increase is attributed to the growth of revenues, the improvement in operational performance, and the implementation of IFRS16. 


The Capex in 9M 2019 decreased to reach SR1,464 million due to capitalization of spectrum. Excluding the spectrum fees, the Capex intensity reflects the company’s continuous commitment to improving its infrastructure, quality of services and customer experience.
Moreover, Mobily substantially improved its 9M 2019 operational cash flow (EBITDA-Capex) by 114 percent to reach SR2,307 million, contributing to the company’s ability to deleverage its debt levels and meet its obligations to its creditors and suppliers.


KAUST hosts 96 startups for Misk challenge

Designed exclusively for the Entrepreneurship World Cup finalists, the KAUST bootcamp was packed with intensive mentor-led pitch sessions, industry meetings, and an overview of local market opportunities.
Updated 13 November 2019

KAUST hosts 96 startups for Misk challenge

King Abdullah University of Science and Technology (KAUST) hosted 96 Entrepreneurship World Cup (EWC) finalists from 64 countries between Nov. 8 and Nov. 11 at its entrepreneurship bootcamp as part of its partnership with the Misk Global Forum (MGF).
KAUST hosted the global finalists on its campus near Jeddah to take part in a training program designed to further prepare them for the EWC global finals at the MGF in Riyadh from Nov. 12-14.
The EWC is the world’s largest startup competition, with over 100,000 applicants from 185 countries. Of the 100 global finalists, six are from Saudi Arabia: Sadeem, Faheem, Cura, Dhad, Red Sea Farms and UnitX. All were founded by graduates of KAUST’s entrepreneurship programs, including the TAQADAM and 9/10ths accelerators.
“As an international university, we strive to build bridges with the brightest minds from around the world, and we are very excited to partner with Misk for the Entrepreneurship World Cup and welcome startups to our campus from over 64 countries,” said Tony Chan, president of KAUST.
Saudi Arabia presents an extraordinary opportunity for startups interested in accessing the MENA market and tapping into KAUST’s unique ecosystem focused on finding solutions to the world’s most pressing challenges in food, water, energy and the environment.”
The KAUST-Misk partnership aims to advance Saudi Arabia’s ambitious economic transformation goals by attracting cutting-edge, impactful startups and top entrepreneurial talent to the Kingdom.

FASTFACT

The Entrepreneurship World Cup is the world’s largest startup competition, with over 100,000 applicants from 185 countries. It is conducted by the Misk Global Forum in partnership with the Global Entrepreneurship Network, alongside local and regional partners.

Shaima Hamidaddin, executive manager of MGF, said: “The EWC global finalists represent the cream of international startup talent. We’re looking forward to seeing the entrepreneurs reach even greater heights thanks to the bootcamp ahead of the finals at the Misk Global Forum. Our partnership with KAUST is part of our commitment to working with top international leaders in innovation, training, and development to achieve our global mission of empowering young people to thrive in the knowledge economy.”
Designed exclusively for the EWC finalists, the KAUST bootcamp was packed with intensive mentor-led pitch sessions, industry meetings, and an overview of local market opportunities. The university is also offering selected finalists priority spin-in access to its newly launched soft-landing program. Startups who join the program will also have access to KAUST’s world-class labs and office space, top advisory and mentorship, the Entrepreneur-in-Residence program, vibrant community life, and MENA market and industry networks.
The EWC global finals will see winners receiving life-changing prizes, support, and opportunities. The EWC is conducted by the Misk Global Forum in partnership with the Global Entrepreneurship Network (GEN), alongside local and regional partners.