Company: Etihad Etisalat (Mobily)
Country: Saudi Arabia (UAE)
Although an engineer by trade, Khalid Al Kaf appears to be just as much a businessman at heart, as he runs Etihad Etisalat, or Mobily, Saudi Arabia’s second telecoms firm. Mobily, an affiliate of the UAE’s Etisalat attracted eleven million subscribers after its first two and half years of operations, representing a 40 percent market share.
The company enjoyed surging profit growth in the last quarter of 2012, outperforming analysts’ forecasts with earnings of $501m, despite a decline in net income from its main competitor, Saudi Telecom Company. Net profit increased eleven percent while revenue from data and corporate customer will continue to drive growth, the operator said. In February, shareholders approved a decision to raise Mobily’s capital by ten percent to SAR7.7bn ($2.05bn).