Saudi-listed Etihad Etisalat Co. (Mobily) reported a surge in capital expenditure (capex) exceeding 285% in the first half of 2025, reaching SAR 2.7 billion ($719.73 million) compared to SAR 700 million in the same period last year. CEO Nizar Banabeela shared the figures with CNBC Arabia.
In Q2 2025 alone, Mobily invested SAR 566 million to enhance infrastructure, develop frequency spectrums, and expand its 5G network, according to the company’s financial statement.
In November, Mobily and state-backed Telecom Egypt signed a cooperation agreement to deploy the first Saudi-owned submarine cable linking Saudi Arabia and Egypt. The cable will traverse the Red Sea, enabling Mobily to expand connectivity options and access European markets.
Mobily also reported a 26% year-on-year increase in net profit to SAR 830 million in Q2 2025, with revenues growing 8.1% annually to SAR 4.8 billion.
