On 2026-08-04 15:55:04 (Saudi Time), Etihad GO Telecom Co. (GO) announced its Interim financial results for the three months ended on June 30, 2026.

Year-on-Year Performance Drivers

Sales/Revenue grew 25.287% YoY to SAR 545 million in Q2 2026 (vs. SAR 435 million in Q2 2025), driven primarily by a 56% surge in wholesale sector revenue (SAR 95 million) fueled by interconnection revenue growth, alongside a 16% increase in B2B sector revenue (SAR 31 million) from expanded government and private sector projects. Net profit attributable to shareholders rose 9.677% YoY to SAR 68 million (vs. SAR 62 million), as the approximately SAR 110 million revenue uplift was largely offset by an approximately SAR 95 million increase in cost of revenues and a net SAR 12 million rise from higher selling, marketing, general and administrative expenses and lower other income, partially mitigated by a decrease in expected credit loss expense, with operational efficiency and cost optimization initiatives helping to contain the overall impact on profitability.

Quarter-on-Quarter Performance Drivers

QoQ revenue rose 4.206% to SAR 545 million (vs. SAR 523 million in the prior quarter), driven by growth in both the B2B sector and the wholesale sales sector. Net profit attributable to shareholders increased 9.677% to SAR 68 million (vs. SAR 62 million in the previous quarter), primarily driven by a SAR 22 million rise in revenues, partially offset by a SAR 18 million increase in cost of revenue and a SAR 2 million increase in operating expenses, while finance costs decreased by SAR 1 million.

Other Items

The external auditor issued an unmodified conclusion on the condensed consolidated interim financial statements for the three-month period ended June 30, 2026. An other matter paragraph was included in the auditor's report, noting that the condensed consolidated interim financial statements for the three-month period ended June 30, 2025 were reviewed by another auditor, who expressed an unmodified review conclusion on those statements on 11 Safar 1447 AH (corresponding to August 5, 2025). No accumulated losses were reported. Total shareholders' equity (after deducting minority equity) stood at SAR 1,082 million as of the current period, up 30.834% from SAR 827 million in the same period of the prior year. Earnings per share for the current period were SAR 2, compared to SAR 1.81 in the same period of the previous year. No material risks, going concern uncertainties, or debt covenant breaches were disclosed.

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