Zain KSA net profit drops 46% to SAR 260 mln in 2020

21/02/2021 Argaam Exclusive

View other reports

Mobile Telecommunication Company Saudi Arabia (Zain KSA) reported a net profit after Zakat and tax of SAR 260 million in 2020, a fall of 46% from a net profit of SAR 485.2 million a year earlier.

The profit drop was attributed a decline in revenue by 5.6% year-on-year (YoY) due to the cumulative impact of the pandemic, which led to a minimal number of visitors for Umrah, limiting Hajj to local pilgrims, in addition to the reduction of mobile termination rate in the second half of 2020.

Financials (M)

Item	2019	2020	Change‬
Revenues	8,386.23	7,916.55	(5.6 %)
Gross Income	5,968.51	5,444.64	(8.8 %)
Operating Income	1,758.30	1,001.96	(43.0 %)
Net Income	485.18	259.95	(46.4 %)
Average Shares	573.22	898.73	56.8 %
EPS (Riyals)	0.85	0.29	(65.8 %)

Moreover, the cost of revenue increased by 2.2% YoY. The company managed to partially absorb negative impact on the net profit by decreasing operating expenses by SAR 136 million. Depreciation and amortization increased by SAR 128 million.

The fourth-quarter net profit plunged 66% YoY to SAR 36 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	2,227.90	2,060.88	(7.5 %)
Gross Income	1,469.37	1,350.59	(8.1 %)
Operating Income	430.27	210.32	(51.1 %)
Net Income	104.96	35.95	(65.8 %)
Average Shares	573.22	898.73	56.8 %
EPS (Riyals)	0.18	0.04	(78.2 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	1,927.59	2,060.88	6.9 %
Gross Income	1,265.93	1,350.59	6.7 %
Operating Income	138.27	210.32	52.1 %
Net Income	60.17	35.95	(40.3 %)
Average Shares	573.22	898.73	56.8 %
EPS (Riyals)	0.10	0.04	(61.9 %)

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×