STC net profit slips 1% to SAR 10.7 bln in FY19

22/01/2020 Argaam Exclusive
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Saudi Telecom Co. (STC) reported a net profit after zakat and tax of SAR 10.66 billion for the fiscal year of 2019, compared to a net profit of SAR 10.78 billion a year earlier.

 

The drop was attributed to higher cost of revenue, higher depreciation and amortization expenses, in addition to booking higher other income & expenses mainly due to the increase in finance costs, according to the statement.



Financials (M)

Item 2018 2019 Change‬
Revenues 51,963.24 54,367.53 4.6 %
Gross Income 30,473.08 32,391.23 6.3 %
Operating Income 12,245.23 12,480.39 1.9 %
Net Income 10,779.77 10,664.67 (1.1 %)
Average Shares 5,000.00 5,000.00 -
Earnings Per Share before unusual items (Riyals) 2.07 2.08 0.1 %
EPS (Riyals) 2.16 2.13 (1.1 %)

The telecom operator’s net profit for Q4 2019 fell 22.4% year-on-year (YoY) to SAR 2.41 billion amid higher cost of revenue and operating expenses.

 

On a sequential basis, Q4 2019 net profit slid by 12.2% due to higher selling and marketing expenses. STC also booked increased other income and expenses.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 13,214.89 13,264.59 0.4 %
Gross Income 8,520.31 8,359.64 (1.9 %)
Operating Income 3,476.44 2,399.82 (31.0 %)
Net Income 3,105.58 2,320.71 (25.3 %)
Average Shares 5,000.00 5,000.00 -
Earnings Per Share before unusual items (Riyals) 0.54 0.41 (24.5 %)
EPS (Riyals) 0.62 0.46 (25.3 %)

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Share Price

Saudi Telecom Co.
44.50
(1.15) (2.52 %)

Saudi Telecom Co. (STC)

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Financial Ratios
Current
Market Cap (M Riyal) 228,250.00
Enterprise Value (EV) (M) 221,795.01
Shares Outstanding ((M)) 5,000.00
EPS ( Riyal) (TTM) 4.94
Book Value (BV) ( Riyal) 17.88
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 19.60
P/E (TTM) 9.25
Price/book 2.55
Return on Average Assets (%) (TTM) 15.4
Return on Average Equity (%) (TTM) 19.8
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