Saudi Networkers Services aims to increase net income by 20% in 2022

Logo of Saudi Networkers Services Co. (SNS)

Saudi Networkers Services Company (SNS) is constantly developing the services and the consultations in the telecommunications and information technology sector. In its management of multiple operations, SNS has adopted a development and expansion methodology and has achieved its objectives until April 2022, realizing an increase in revenues by 4.35%. The company’s profit margin has also improved compared to the same period last year with the annual revenues and net profit to date being in line with the projections for 2022G in which SNS management is expecting a net income of around SAR 32 million. This increase in net income is about 20% as compared to 2021 net income.

Through SNS’s outlook and projections for the future, which shows a steady financial growth, SNS aims to increase its revenues in the next years through its various services that align with vision 2030. The company will focus on mega projects that require highly experienced and skillful personnel in the sectors with high growth that support the national transformation program. SNS will continuously develop its services in the telecommunications and information sector, which backs up the development of infrastructure and digital transformations in the Kingdom.

SNS achieved a high nationalization ratio as of May 2022 and is classified in the "high green" Saudization Nitaqat threshold, as shown in the prospectus.

It is worth mentioning that Saudi Networkers Services Company declared steady dividends during the last three yearswith an average of 80% of the annual profits. The company is well capitalized and holds a strong liquidity position that allows it to maintain the same payout ratios in the next few years provided conditions remain favorable.

Saudi Networkers Services Company’s strength lies within its institutional strategy, as it believes that the consistent work, and organization that it applies efficiently and distinctively in its business is the guide to provide the best services and solutions. It also applies the highest standards of transparency in dealing with employees and customers. In addition, SNS combines quality and depth in its services and solutions, with its success reflecting the highest efforts employed to realize the most efficient results.

Furthermore, SNS’s strategy aligns with vision 2030 and its management reaffirms the importance of the modern digital economy across all business sectors. The company also always strives to feature strategic partnerships that support its expansion in the sector and that provide economic opportunities to acquire strategic investment opportunities that consequently boost SNS’s performance in the medium-run and the long-run.