Etihad Etisalat Company (TADAWUL:7020)

Etihad Etisalat Company Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	19,904	19,642	18,206	16,763	15,717	14,834
Revenue Growth (YoY)	7.95%	7.88%	8.61%	6.65%	5.96%	5.61%
Cost of Revenue	8,893	8,900	8,312	7,509	6,336	6,163
Gross Profit	11,012	10,742	9,894	9,253	9,381	8,672
Selling, General & Admin	3,182	3,106	2,553	2,443	3,091	2,948
Operating Expenses	7,027	6,894	6,364	6,276	7,053	7,018
Operating Income	3,985	3,847	3,530	2,977	2,328	1,654
Interest Expense	-546.97	-557.66	-596.52	-664.25	-582.86	-483.58
Interest & Investment Income	193.97	202.61	174.74	158.17	45.99	5.2
Earnings From Equity Investments	102.77	117.95	43.79	30.05	28.23	-18.85
Other Non Operating Income (Expenses)	-60.22	-52.7	45.96	-43.23	-23.01	-5.85
EBT Excluding Unusual Items	3,675	3,557	3,198	2,458	1,796	1,151
Gain (Loss) on Sale of Assets	-0.83	-0.83	-5.34	-8.83	-17.6	-
Pretax Income	3,674	3,556	3,193	2,449	1,779	1,151
Income Tax Expense	94.26	89.97	86.21	217.19	121.83	79.38
Net Income	3,580	3,466	3,107	2,232	1,657	1,072
Net Income to Common	3,580	3,466	3,107	2,232	1,657	1,072
Net Income Growth	10.62%	11.57%	39.20%	34.71%	54.63%	36.81%
Shares Outstanding (Basic)	769	769	770	770	770	770
Shares Outstanding (Diluted)	771	770	770	770	770	770
EPS (Basic)	4.66	4.51	4.03	2.90	2.15	1.39
EPS (Diluted)	4.64	4.50	4.03	2.90	2.15	1.39
EPS Growth	10.41%	11.66%	39.03%	34.71%	54.63%	36.81%
Free Cash Flow	3,497	3,649	3,749	3,842	3,354	2,597
Free Cash Flow Per Share	4.53	4.74	4.87	4.99	4.36	3.37
Dividend Per Share	2.800	2.800	2.200	1.450	1.150	0.850
Dividend Growth	27.27%	27.27%	51.72%	26.09%	35.29%	70.00%
Gross Margin	55.32%	54.69%	54.34%	55.20%	59.69%	58.46%
Operating Margin	20.02%	19.59%	19.39%	17.76%	14.81%	11.15%
Profit Margin	17.98%	17.65%	17.07%	13.31%	10.54%	7.22%
Free Cash Flow Margin	17.57%	18.58%	20.59%	22.92%	21.34%	17.51%
EBITDA	7,177	6,983	6,582	6,030	5,578	5,581
EBITDA Margin	36.06%	35.55%	36.15%	35.97%	35.49%	37.62%
D&A For EBITDA	3,192	3,136	3,052	3,052	3,250	3,927
EBIT	3,985	3,847	3,530	2,977	2,328	1,654
EBIT Margin	20.02%	19.59%	19.39%	17.76%	14.81%	11.15%
Effective Tax Rate	2.57%	2.53%	2.70%	8.87%	6.85%	6.90%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.