Mobile Telecommunication Company Saudi Arabia (Zain KSA) reported a net profit of SAR 550 million in 2022, a 157% jump from of SAR 214 million in 2021.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 7,900.65 | 9,075.17 | 14.9 % |
| Gross Income | 4,884.60 | 5,315.37 | 8.8 % |
| Operating Income | 698.74 | 1,065.70 | 52.5 % |
| Net Income | 214.30 | 549.67 | 156.5 % |
| Average Shares | 898.73 | 898.73 | - |
| EPS (Riyals) | 0.24 | 0.61 | 156.5 % |
The telco said it achieved the highest-ever revenues at SAR 9.1 billion in 2022, up 15% year-on-year (YoY), due to sharper growth in B2B and 5G revenues, and the return of international visitors (for Umrah and business), in addition higher Tamam revenue.
Amortization and depreciation decreased by SAR 364 million due to the reclassification of the tower's assets to assets held for sale concerning the announced disposal plan of the telecom towers.
Meanwhile, the cost of revenue increased by 25% YoY, however, gross profit increased by 9%. Finance costs increased by SAR 85 million due to the increase in SAIBOR and LIBOR. Operating expenses increased by SAR 404 million.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 2,083.10 | 2,403.87 | 15.4 % |
| Gross Income | 1,166.17 | 1,452.31 | 24.5 % |
| Operating Income | 192.98 | 379.43 | 96.6 % |
| Net Income | 71.40 | 250.18 | 250.4 % |
| Average Shares | 898.73 | 898.73 | - |
| EPS (Riyals) | 0.08 | 0.28 | 250.4 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 2,286.62 | 2,403.87 | 5.1 % |
| Gross Income | 1,376.35 | 1,452.31 | 5.5 % |
| Operating Income | 246.48 | 379.43 | 53.9 % |
| Net Income | 85.15 | 250.18 | 193.8 % |
| Average Shares | 898.73 | 898.73 | - |
| EPS (Riyals) | 0.09 | 0.28 | 193.8 % |
In Q4 2022, Zain KSA’s net profit jumped to SAR 250.5 million, versus SAR 71.1 million in Q4 2021.
Compared with the previous quarter, net profit rose from SAR 85.15 million.
Shareholders' equity, no minority interest, amounted to SAR 9.8 billion as of Dec. 31, 2022, compared to SAR 9.04 billion a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}