MOBILY-

EtihadEtisalat (Mobily) reported a 39.2% y-o-y increase in net income to SAR 3.1 bn in 2024, pushed by revenue growth, higher EBITDA, and cost efficiency measures, according to a statement(pdf). The business segment recorded the largest expansion thanks to contributions from government, large enterprises, and small to medium-sized enterprises (SMEs), beating analyst expectations of SAR 2.84 bn, according to Asharq Business.

Revenues rose 8.6% y-o-y in 2024 to SAR 18.2 bn, supported by expansions across all segments, and mobile subscribers increasing to 12.3 mn.

In the pipeline: Mobily is planning to raise capital spending from 14% to 16-18% of total revenue in 2025-2026, CEO Salman Al-Badran told Al Arabiya. The company is investing some USD 900 mn to establish AI data centers and lay down the submarine cable in Duba to connect Africa, the Middle East, Asia, and Europe.

ALSO- Mobily’s board approved the distribution of SAR 1.1 bn in interim dividends for 2H 2024 at SAR 1.30 per share, starting 9 April, it said in a separate disclosure.

SAUDI LOGISTICS COMPANY-

Saudi Logistics Company (Sal) logged a net income of SAR 661 mn in 2024, up 30% y-o-y, according to its earnings release (pdf). The improved performance came on the back of grwoth in volumes and cost savings. Meanwhile, revenues were up 12% at SAR 1.6 bn on the back of solid results across the firm’s divisions, despite geopolitical challenges.

The drivers: The firm’s handling division capitalized on new prospects following geopolitical developments at the start of 2024, leading to a sharp uptick in 1Q air cargo volumes. The execution of strategic projects, a rise in courier activity, and demand from major events including Riyadh Season and F1 also drove the increase in sales, according to the release.

ALSO- Sal is distributing SAR 106.4 mn in dividends for 4Q 2024 at SAR 1.33 apiece, according to a separate disclosure to Tadawul. Distribution is set to take place within 15 business days of the Wednesday, 26 February eligibility date.

YAMAMA CEMENT-

Yamama Cement’s net income increased 38.3% y-o-y in 2024 to SAR 420.7 mn, it said in a disclosure to Tadawul. Revenues were up 25.4% y-o-y at SAR 1.2 bn over the same period. Growth in the top and bottom lines was primarily driven by higher sales value, the company said.

ALSO- The company’s board greenlit the distribution of SAR 202.5k in dividends for FY2024 at SAR 1.00 a piece to shareholders, it said in a separate disclosure to Tadawul. The payment date will be announced following the next general assembly approval.

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