Zain KSA H1 net profit slumps 86% to SAR 172M, Q2 at SAR 105M

25/07/2024 Argaam Exclusive

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Mobile Telecommunication Company Saudi Arabia (Zain KSA) reported a net profit of SAR 172 million in H1 2024, a plunge of 86% from SAR 1.25 billion in the year earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 4,814.54 5,087.38 5.7 %
Gross Income 2,898.48 3,085.63 6.5 %
Operating Income 443.74 492.42 11.0 %
Net Income 1,251.41 171.71 (86.3 %)
Average Shares 898.73 898.73 -
Earnings Per Share before unusual items (Riyals) 0.12 0.13 10.3 %
EPS (Riyals) 1.39 0.19 (86.3 %)

The telco said its financing costs increased by SAR 26.5 million due to higher LIBOR and SAIBOR.

 

However, Zain KSA’s H1 2024 revenue rose 5.67% year-on-year (YoY) due to the growth in 5G services, B2B sales, wholesale, and Hajj season, in addition to the growth in “Tamam” business. 

  

Q2 2024 net profit declined 8% YoY to SAR 105 million as operating expenses rose 6% YoY and expected credit loss (ECL) costs increased by SAR 33 million. Cost of finance increased by SAR 20 million due to higher SAIBOR and LIBOR. 

 

Meanwhile, the company recorded a one-time government grant income at SAR 52 million related to the closure of a project. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 2,392.38 2,552.20 6.7 %
Gross Income 1,483.64 1,540.46 3.8 %
Operating Income 252.58 241.69 (4.3 %)
Net Income 114.19 105.20 (7.9 %)
Average Shares 898.73 898.73 -
Earnings Per Share before unusual items (Riyals) 0.13 0.06 (53.9 %)
EPS (Riyals) 0.13 0.12 (7.9 %)
On a quarterly basis, net earnings jumped 57.9% from SAR 66.51 million in Q1 2024. 
 
Total shareholders’ equity, no minority interest, reached SAR 10.31 billion by June 30, 2024, compared to SAR 10.61 billion in prior-year period.

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Share Price

Mobile Telecommunication Company Saudi Arabia
11.62
0.44 3.94 %

Mobile Telecommunication Company Saudi Arabia (ZAIN KSA)

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Financial Ratios
Current
Market Cap (M Riyal) 10,443.24
Enterprise Value (EV) (M) 17,773.30
Shares Outstanding ((M)) 898.73
EPS ( Riyal) (TTM) 0.66
Book Value (BV) ( Riyal) 11.91
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 35.04
P/E (TTM) 17.51
Price/book 0.98
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 5.6
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Comments 3

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5
800

دروب السهر

منذ 8 شهر

اذا حبيتوا تجملون الشركه قلتوا حققت ارباحا قدرها حتى لو كان هبوط كبير في الارباح والعكس صحيح بعض الشركات تقولون انخفاض ارباح الشركه الفلانيه رغم ان الانخفاض طبيعي وقليل !!! 

 

 

2
1
239

حسون

منذ 8 شهر

المفروض الطرح يكون بعد هذا الاعلان  لاعطاء التقييم الحقيقي للشركة وللسهم .. انخفاض كبير بالارباح وهذا  سبب نزول السهم من اليوم الاول للطرح .

3
2
74

محمد سليمان النادر

منذ 8 شهر

انخفاض بالارباح شديد  بنسبة -76%

 نتائج مالية  سيئة 

هل ممكن نشوف السهم يتداول تحت  ال20 ريال

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