Etihad Etisalat Co. — Earnings Release 2011

Jan 18, 2012

ETIHAD ETISALAT (MOBILY) ANNOUNCES THE CONSOLIDATED FINANCIAL RESULTS FOR THE FISCAL YEAR ENDED DECEMBER 31,2011 (TWELVE MONTHS) (CONTINUED1) :

7020 · 18/01/2012 16:45:04 · Announcement #23745 · View on Saudi Exchange

ETIHAD ETISALAT (MOBILY) ANNOUNCES THE CONSOLIDATED FINANCIAL RESULTS FOR THE FISCAL YEAR ENDED DECEMBER 31,2011 (TWELVE MONTHS) (CONTINUED1) :

Mobily Board Chairman indicated that total revenues reach SR 20,052 million in 2011, as compared to SR 16,013 million for the previous year, an increase of 25%. EBITDA increased to SR 7,454 million in 2011 compared to SR 6,165 million in year 2010, an increase of 21%, pointing out that as competition in data services continues and due to the increase in sales of low margin smart phones and tablet PCs, EBITDA margin recorded 40% during the fourth quarter of 2011 compared to 44% for the same period last year, and compared to 39% for the third quarter of 2011. The Company completed the Hajj season successfully by all standards and its network registered an increased number of users compared to the previous season; In addition to the increase in data traffic, Internet traffic rose by 87% from last season (475% increase in BlackBerry data traffic).

Engineer AlSaghyir added that the Company focus in the coming period will be on increasing accessibility to the Internet through both fixed and mobile broadband networks, expecting that the Kingdom would achieve the highest growth rate in terms of data transfer rate in the Middle East, due to growth in population, young nature of the population composition, and proliferation of smart phones and tablet PCs, in addition to the noticeable increase in the use of social networking and applications through smart phones, which is considered to be a major driver of demand for the growing high speed Internet connectivity.

(CONTINUED)

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