Etihad GO Reports SAR 259M Net Profit in 2026
GO TELECOM 7040.SA | 0.00 |
On 2026-05-20 08:38:57 (Saudi Time), Etihad GO Telecom Co. announced its Annual financial results for the year ended on March 31, 2026.
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 1,918 | 1,462 | 31.19 | ||
| Gross Profit (Loss) | 522 | 431 | 21.11 | ||
| Operational Profit (Loss) | 284 | 228 | 24.56 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 259 | 220 | 17.73 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 258 | 217 | 18.89 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,014 | 766 | 32.38 | ||
| Profit (Loss) per Share | 7.62 | 6.46 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year |
The Group continued to achieve strong growth in total revenue, which increased by 31% (SAR 456 million) during the current year compared to the previous year. This growth was primarily driven by the Group’s growth strategy and the following factors:
• Revenue from the B2B segment increased by 11% (SAR 80 million), mainly due to higher sales generated from projects executed with government entities and private sector companies.
• Revenue from the Wholesale segment grew by 65% (SAR 314 million), driven by higher revenues from voice interconnection services.
• The subsidiary Ejad Tech standalone recorded revenues of SAR 139M during the current year, as the company’s financial results were consolidated for a full 12-month period, compared to the previous year when revenues were recognized only for the period from the acquisition date on December 11, 2024 until March 31, 2025 amounting to SAR 43 million at that time. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
The Group achieved a net profit of SAR 259m, compared to SAR 220m in the last year. This is due to the following factors:
• Revenue increased by SAR 456 million, which was partially offset by an increase in cost of revenues of SAR 365 million. Expected credit losses on trade receivables decreased by SAR 27 million due to improved sales quality, while general and administrative expenses increased by SAR 43 million as a result of operational expansion.
• Finance costs decreased by SAR 8 million, mainly due to the recognition of Murabaha income on Islamic deposits amounting to SAR 29 million during the current year, compared to SAR 20 million in the previous year.
• The subsidiary Ejad Tech standalone recorded costs and expenses amounting to SAR 99 million for the full 12 months of the current year, compared to SAR 35 million recorded in the previous year from the acquisition date of December 11, 2024. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) |
Other Matter:
The Group consolidated financial statements for the year ended March 31, 2025 were audited by another external auditor, who issued an unmodified opinion on those consolidated financial statements on 5 Muharram 1447H (corresponding to June 30, 2025). |
| Reclassification of Comparison Items | N/A |
| Additional Information |
The Earnings Before Interest, Taxes, Zakat, Depreciation, and Amortization (EBITDA) for the current year amounted to SAR 342M, compared to SAR 287M for the previous year, representing an increase of SAR 55M, of 19%, which highlights the group's continuous commitment to enhancing operational and financial performance with high efficiency.
The group has completed the procedures related to the financial impact of the acquisition in the consolidated financial statements as of March 31, 2026, which were finalized by the independent advisor based on the purchase price allocation report (PPA) dated December 15, 2025. |
Year-on-Year Performance Drivers
Sales increased 31.19% YoY to SAR 1,918 million, driven by 65% growth in the Wholesale segment from higher voice interconnection services revenue, 11% growth in B2B segment from government and private sector projects, and full-year consolidation of subsidiary Ejad Tech contributing SAR 139 million versus SAR 43 million in the previous partial period. Net profit rose 17.73% to SAR 259 million, as the SAR 456 million revenue increase was partially offset by SAR 365 million higher cost of revenues, while benefiting from SAR 27 million lower expected credit losses due to improved sales quality and SAR 8 million reduced finance costs from higher Murabaha income on Islamic deposits.
Quarter-on-Quarter Performance Drivers
Revenue increased 31.19% year-over-year to SAR 1,918 million, driven by 65% growth in the Wholesale segment (SAR 314 million from voice interconnection services), 11% increase in B2B segment (SAR 80 million from government and private projects), and full-year consolidation of subsidiary Ejad Tech contributing SAR 139 million versus SAR 43 million in the prior year. Net profit rose 17.73% to SAR 259 million despite higher costs, supported by improved sales quality reducing expected credit losses by SAR 27 million and increased Murabaha income from Islamic deposits.
Other Items
The external auditors issued an unmodified opinion on the consolidated financial statements. The auditor's report included an other matter paragraph noting that "The Group consolidated financial statements for the year ended March 31, 2025 were audited by another external auditor, who issued an unmodified opinion on those consolidated financial statements on 5 Muharram 1447H (corresponding to June 30, 2025)." No accumulated losses were reported, with the accumulated losses amount and percentage of capital both showing as zero. EBITDA increased 19% to SAR 342 million compared to SAR 287 million in the previous year, and the group completed procedures related to the financial impact of acquisition in consolidated financial statements based on the purchase price allocation report dated December 15, 2025.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95544&anCat=1&cs=7040&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.