Etihad Etisalat Company Income Statement

Financials in millions SAR. Fiscal year is January - December.

Millions SAR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	19,153	18,206	16,763	15,717	14,834	14,046
Revenue Growth (YoY)	7.50%	8.61%	6.65%	5.96%	5.61%	4.43%
Cost of Revenue	8,780	8,312	7,509	6,336	6,163	5,894
Gross Profit	10,372	9,894	9,253	9,381	8,672	8,152
Selling, General & Admin	2,791	2,553	2,443	3,091	2,948	2,798
Other Operating Expenses	-	-	-	-	-	-10.6
Operating Expenses	6,535	6,364	6,276	7,053	7,018	6,772
Operating Income	3,837	3,530	2,977	2,328	1,654	1,381
Interest Expense	-637.06	-596.52	-664.25	-582.86	-483.58	-538.23
Interest & Investment Income	173.47	151.89	158.17	45.99	5.2	20.65
Earnings From Equity Investments	126.61	43.79	30.05	28.23	-18.85	-
Other Non Operating Income (Expenses)	61.15	68.81	-43.23	-23.01	-5.85	-22.88
EBT Excluding Unusual Items	3,561	3,198	2,458	1,796	1,151	840.29
Gain (Loss) on Sale of Assets	-5.34	-5.34	-8.83	-17.6	-	-
Asset Writedown	-	-	-	-	-	-14.24
Pretax Income	3,556	3,193	2,449	1,779	1,151	826.05
Income Tax Expense	63.45	86.21	217.19	121.83	79.38	42.8
Net Income	3,492	3,107	2,232	1,657	1,072	783.25
Net Income to Common	3,492	3,107	2,232	1,657	1,072	783.25
Net Income Growth	21.55%	39.20%	34.71%	54.63%	36.81%	2411.80%
Shares Outstanding (Basic)	770	770	770	770	770	770
Shares Outstanding (Diluted)	770	770	770	770	770	770
EPS (Basic)	4.54	4.03	2.90	2.15	1.39	1.02
EPS (Diluted)	4.53	4.03	2.90	2.15	1.39	1.02
EPS Growth	21.62%	39.20%	34.71%	54.63%	36.81%	2411.82%
Free Cash Flow	3,878	3,749	3,842	3,354	2,597	800.6
Free Cash Flow Per Share	5.04	4.87	4.99	4.36	3.37	1.04
Dividend Per Share	2.500	2.200	1.450	1.150	0.850	0.500
Dividend Growth	6.38%	51.72%	26.09%	35.29%	70.00%	-
Gross Margin	54.16%	54.34%	55.20%	59.69%	58.46%	58.04%
Operating Margin	20.03%	19.39%	17.76%	14.81%	11.15%	9.83%
Profit Margin	18.23%	17.07%	13.31%	10.54%	7.22%	5.58%
Free Cash Flow Margin	20.25%	20.59%	22.92%	21.34%	17.51%	5.70%
EBITDA	6,991	6,582	6,030	5,578	5,581	5,350
EBITDA Margin	36.50%	36.15%	35.97%	35.49%	37.62%	38.09%
D&A For EBITDA	3,154	3,052	3,052	3,250	3,927	3,970
EBIT	3,837	3,530	2,977	2,328	1,654	1,381
EBIT Margin	20.03%	19.39%	17.76%	14.81%	11.15%	9.83%
Effective Tax Rate	1.78%	2.70%	8.87%	6.85%	6.90%	5.18%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.