Mobily continued to grow its revenues for the eighth consecutive quarter to reach SAR 3.4 billion in Q3 2019, with a Year-on-Year growth of 14.4%. This is mainly attributed to the growth of subscribers' base, the growth of revenues of business, and wholesale units and the growth of FTTH active base.
In addition, the company continued delivering positive net results for the fourth consecutive quarter, as Q3 2019 net result highlighted a Year-on-Year growth by 82 million to reach SAR 51 million compared to a loss of SAR 31 million in Q3 2018, and a QoQ improvement by 13 million compared to a profit of 38 million in Q2 2019. This is mainly due to improvement of topline and operational performance, and to the strong and healthy EBITDA.
Moreover, Mobily succeeded in increasing its EBITDA to reach SAR 1,277 million in Q3 2019, with Year-on-Year increase of 17.4%. The EBITDA increase is attributed to the growth of revenues, the improvement in operational performance, and the implementation of IFRS16.
CAPEX in 9M 2019 decreased to reach SAR 1,464 million due to capitalization of spectrum. Excluding the spectrum fees, CAPEX intensity reflects the company's continuous commitment to improve its infrastructure and continue to develop its services, and improve the quality of services and customer experience.
Moreover, Mobily substantially improved its 9M 2019 operational cash flow (EBITDA-CAPEX) by 114% to reach SAR 2,307 million; contributing to the company's ability to deleverage its debt levels and meet its obligations to its creditors and suppliers.