Etihad Etisalat (7020) Q1 2025 earnings summary

Executive summary

• Achieved revenue growth of 5.1% year-over-year in Q1 2025, reaching SAR 4.8 billion, with net income up 20.2% to SAR 767 million.

• EBITDA increased by 7.5% year-over-year to SAR 1.8 billion, reflecting operational efficiency and higher revenues.

• Mobile subscriber base grew to 13.0 million, with FTTH subscribers at 0.290 million.

• Recognized for social responsibility with the 2024 "Disability-Friendly Work Environment Award."

Financial highlights

• Revenue: SAR 4,777 million, up 5.1% year-over-year.

• EBITDA: SAR 1,775 million, up 7.5% year-over-year; EBITDA margin improved to 37.1%.

• Net income: SAR 767 million, up 20.2% year-over-year.

• CAPEX: SAR 2,130 million, up 855.2% year-over-year, focused on 5G and spectrum expansion.

• Net debt: SAR 6,965 million, up 3.1% year-over-year.

Outlook and guidance

• Forecasting mid- to high-single digit revenue growth for FY 2025.

• EBITDA margin expected between 37-38%.

• Net debt/EBITDA targeted at 1.0x; CAPEX/revenue ratio projected at 16-18%.