28/07/2024
Argaam Exclusive
Etihad Atheeb Telecommunication Co. (GO) posted a net profit of SAR 46.7 million in the first quarter ended June 30, 2024, compared with SAR 52.6 million in the year-earlier period.
Current Quarter Comparison (M)
Item
Q1 2023
Q1 2024
Change
Revenues
206.33
310.19
50.3 %
Gross Income
70.66
88.00
24.5 %
Operating Income
35.81
51.58
44.0 %
Net Income
52.60
46.73
(11.2 %)
Average Shares
29.62
34.00
14.8 %
EPS (Riyals)
1.78
1.37
(22.6 %)
The telco recorded non-recurring financing income of SAR 21.7 million during the same quarter of the previous year due to GO’s settlement with the Communications, Space & Technology Commission (CST).
The company posted a rise in the cost of services, as well as general and administrative expenses. This is in addition to the allowance for impairment in trade receivables, Zakat and income tax expenses, an increase in revenues, and lower selling and marketing expenses.
However, operating income increased by 44% compared with a year earlier.
On a sequential basis, the first-quarter net earnings soared 157.7% from SAR 18.13 million in Q4 2023/24.
Shareholders’ equity, with no minority interest, reached SAR 605.6 million as of June 30, 2024, compared to SAR 168.7 million in the same period last year.
Etihad Atheeb Telecommunication Co. (ATHEEB TELECOM)
Current
Market Cap (M Riyal)
3,460.18
Enterprise Value (EV) (M)
3,025.18
Book Value (BV) ( Riyal)
17.81
Par Value ( Riyal)
10.00
Adjusted P/E (Last12)
22.35
P/E (TTM)
18.33
Price/book
5.71
Return on Average Assets (%) (TTM)
16.3
Return on Average Equity (%) (TTM)
48.8
Financial results (Million)
Profit Performance (Million)
Multiple Ratios (End of Period Price)
Compared With The
Period
P/E
Adjusted P/E
Price/book
Q1 2024
16.87
20.57
5.26
Business Segments (Million)
Compared With The
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