Mobily's market share in business segment growing, no plans to sell towers: CEO

CEO Salman bin Abdulaziz Al-Badran

Salman bin Abdulaziz Al Badran, CEO of Etihad Etisalat Co. (Mobily), said that the company's market share in the business segment is witnessing strong growth, and is rising gradually from one quarter to another.
 

In an interview with Al Arabiya TV, the top executive indicated that the business segment represents 15-20% of the company's revenues, thanks to the efforts made over the past three years to bolster the telco's operations in that segment.
 

Mobily's revenues and profits rose in 2021 to their highest levels in the past eight years, driven by the positive performance of the retail and business segments.

Moreover, the smart meter project that was carried out for Saudi Electricity Co. was a key contributor to revenues, Al Badran added.
 

Capital investments are ongoing and will be at last year’s level or exceed it. These investments are related to the change in 5G technologies, he explained, adding that the decline in those investments in a certain period could result from the capital cycle.
 

Mobily's capital expenditures amounted to SAR 2.092 billion in 2021, compared to SAR 2.792 billion in 2020, Argaam's data showed.
 

Mobily is prepared for any expected change in interest rates, said the CEO, indicating that most of the company's loans carry variable interest. The company signed financing agreements in 2020 with favorable terms. It currently has a solid position at the level of financing expenses compared to previous years, while continuing to monitor of ratio of loans, which is currently down.
 

“We do not intend to sell towers, as we have a solid financial position, but the idea is still on the table,” Al Badran said. There are several projects that are pending approvals, for which the company is considering all opportunities and options. The goal of merging and investing the towers is to raise operational efficiency and improve performance.
 

Mobily's profits rose to SAR 1.072 billion by the end of 2021, compared to SAR 783.3 million a year earlier, according to Argaam's data.