Saudi Telecom’s H1 net profit up 3% to SAR 5 bln

26/07/2018 Argaam Exclusive

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Saudi Telecom Co. (STC), the Kingdom's second-largest listed company, reported a net profit of SAR 5.03 billion in the first half of 2018, a 2.8 percent rise year-on-year (YoY), due to decline in cost of revenues and operating expenses.

Financials (M)

Item	6m 2017	6m 2018	Change‬
Revenues	25,565.28	25,428.47	(0.5 %)
Gross Income	13,834.92	14,102.03	1.9 %
Operating Income	5,198.75	5,533.27	6.4 %
Net Income	4,891.23	5,031.58	2.9 %
Average Shares	5,000.00	5,000.00	-
EPS (Riyals)	0.98	1.01	2.9 %

The telco’s net profit for Q2 stood at SAR 2.44 billion, up 3.74 percent YoY, as consolidated revenues increased while operating expenses declined.

On a sequential basis, the net profit was down 5.56 percent.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2017	Q2 2018	Change‬
Revenues	13,041.18	13,079.39	0.3 %
Gross Income	6,911.04	7,167.18	3.7 %
Operating Income	2,583.68	2,900.92	12.3 %
Net Income	2,356.48	2,444.05	3.7 %
Average Shares	5,000.00	5,000.00	-
EPS (Riyals)	0.47	0.49	3.7 %

Item	Q1 2018	Q2 2018	Change‬
Revenues	12,349.08	13,079.39	5.9 %
Gross Income	6,934.85	7,167.18	3.4 %
Operating Income	2,632.35	2,900.92	10.2 %
Net Income	2,587.53	2,444.05	(5.5 %)
Average Shares	5,000.00	5,000.00	-
EPS (Riyals)	0.52	0.49	(5.5 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2009	12,142.78	26.8 %	7,912.55	9.7 %	3,836.49	18.1 %
Q2 2009	12,674.12	5.4 %	7,723.03	(15.1 %)	3,228.40	(12.4 %)
Q3 2009	12,934.24	(4.5 %)	7,754.81	(25.4 %)	3,111.64	(21.3 %)
Q4 2009	13,028.94	5.7 %	7,610.31	(16.3 %)	2,637.05	(40.7 %)
2009	50,780.09	7.0 %	31,000.70	(13.4 %)	12,813.59	(16.4 %)
Q1 2010	12,519.63	3.1 %	7,159.87	(9.5 %)	2,353.28	(38.7 %)
Q2 2010	12,591.24	(0.7 %)	7,334.89	(5.0 %)	2,344.84	(27.4 %)
Q3 2010	13,232.39	2.3 %	7,884.82	1.7 %	3,254.86	4.6 %
Q4 2010	13,443.57	3.2 %	7,943.03	4.4 %	3,025.33	14.7 %
2010	51,786.83	2.0 %	30,322.60	(2.2 %)	10,978.31	(14.3 %)
Q1 2011	13,076.30	4.4 %	7,488.43	4.6 %	2,668.75	13.4 %
Q2 2011	13,879.67	10.2 %	7,951.89	8.4 %	2,782.89	18.7 %
Q3 2011	14,015.11	5.9 %	8,073.04	2.4 %	3,000.18	(7.8 %)
Q4 2011	14,691.00	9.3 %	7,814.90	(1.6 %)	2,719.20	(10.1 %)
2011	55,662.08	7.5 %	31,328.25	3.3 %	11,171.02	1.8 %
Q1 2012	11,067.36	(15.4 %)	6,329.04	(15.5 %)	2,675.36	0.2 %
Q2 2012	11,013.03	(20.7 %)	6,352.24	(20.1 %)	2,617.31	(6.0 %)
Q3 2012	11,429.91	(18.4 %)	6,459.29	(20.0 %)	2,470.09	(17.7 %)
Q4 2012	11,234.77	(23.5 %)	6,121.14	(21.7 %)	2,173.79	(20.1 %)
2012	44,745.08	(19.6 %)	25,261.70	(19.4 %)	9,936.56	(11.1 %)
Q1 2013	11,473.88	3.7 %	6,494.46	2.6 %	2,717.94	1.6 %
Q2 2013	11,433.47	3.8 %	6,733.78	6.0 %	3,195.05	22.1 %
Q3 2013	11,426.85	0.0 %	7,193.36	11.4 %	3,377.39	36.7 %
Q4 2013	11,270.43	0.3 %	6,991.64	14.2 %	2,801.88	28.9 %
2013	45,604.63	1.9 %	27,413.24	8.5 %	12,092.26	21.7 %
Q1 2014	10,782.89	(6.0 %)	6,211.34	(4.4 %)	2,665.78	(1.9 %)
Q2 2014	11,722.00	2.5 %	7,023.53	4.3 %	2,961.46	(7.3 %)
Q3 2014	11,754.61	2.9 %	7,620.88	5.9 %	3,540.12	4.8 %
Q4 2014	11,848.40	5.1 %	7,300.50	4.4 %	2,782.99	(0.7 %)
2014	45,825.64	0.5 %	28,155.63	2.7 %	12,030.59	(0.5 %)
Q1 2015	12,473.48	15.7 %	7,543.92	21.5 %	3,379.74	26.8 %
Q2 2015	12,222.15	4.3 %	7,164.16	2.0 %	2,963.44	0.1 %
Q3 2015	12,894.71	9.7 %	7,624.10	0.0 %	3,038.06	(14.2 %)
Q4 2015	13,246.19	11.8 %	8,010.86	9.7 %	2,554.39	(8.2 %)
2015	50,650.61	10.5 %	30,344.82	7.8 %	11,859.28	(1.4 %)
Q1 2016	13,228.62	6.1 %	7,076.10	(6.2 %)	2,856.43	(15.5 %)
Q2 2016	13,412.97	9.7 %	7,470.82	4.3 %	2,863.30	(3.4 %)
Q3 2016	14,025.79	8.8 %	7,117.39	(6.6 %)	2,402.82	(20.9 %)
Q4 2016	13,010.95	(1.8 %)	7,023.48	(12.3 %)	1,828.54	(28.4 %)
2016	53,678.34	6.0 %	28,687.78	(5.5 %)	9,951.09	(16.1 %)
Q1 2017	12,524.11	(5.3 %)	6,923.88	(2.2 %)	2,615.07	(8.4 %)
Q2 2017	13,041.18	(2.8 %)	6,911.04	(7.5 %)	2,583.68	(9.8 %)
Q3 2017	12,621.35	(10.0 %)	7,400.59	4.0 %	2,906.90	21.0 %
Q4 2017	12,502.72	(3.9 %)	7,347.91	4.6 %	2,880.37	57.5 %
2017	50,689.35	(5.6 %)	28,583.42	(0.4 %)	10,986.01	10.4 %
Q1 2018	12,349.08	(1.4 %)	6,934.85	0.2 %	2,632.35	0.7 %
Q2 2018	13,079.39	0.3 %	7,167.18	3.7 %	2,900.92	12.3 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2008	47,469.37	37.8 %	35,796.84	42.0 %	15,335.14	27.0 %
2009	50,780.09	7.0 %	31,000.70	(13.4 %)	12,813.59	(16.4 %)
2010	51,786.83	2.0 %	30,322.60	(2.2 %)	10,978.31	(14.3 %)
2011	55,662.08	7.5 %	31,328.25	3.3 %	11,171.02	1.8 %
2012	44,745.08	(19.6 %)	25,261.70	(19.4 %)	9,936.56	(11.1 %)
2013	45,604.63	1.9 %	27,413.24	8.5 %	12,092.26	21.7 %
2014	45,825.64	0.5 %	28,155.63	2.7 %	12,030.59	(0.5 %)
2015	50,650.61	10.5 %	30,344.82	7.8 %	11,859.28	(1.4 %)
2016	53,678.34	6.0 %	28,687.78	(5.5 %)	9,951.09	(16.1 %)
2017	50,689.35	(5.6 %)	28,583.42	(0.4 %)	10,986.01	10.4 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2009	2,487.75	(17.9 %)	0.50	-	2,626.47	0.53
Q2 2009	2,990.22	(22.1 %)	0.60	-	2,968.73	0.59
Q3 2009	2,402.62	(20.2 %)	0.48	-	2,414.88	0.48
Q4 2009	2,982.78	157.9 %	0.60	-	2,279.09	0.46
2009	10,863.36	(1.6 %)	2.17	-	10,289.17	2.06
Q1 2010	1,772.03	(28.8 %)	0.35	-	1,782.10	0.36
Q2 2010	2,061.99	(31.0 %)	0.41	-	2,083.58	0.42
Q3 2010	3,316.80	38.0 %	0.66	-	2,380.00	0.48
Q4 2010	2,285.51	(23.4 %)	0.46	-	1,521.56	0.30
2010	9,436.33	(13.1 %)	1.89	-	7,767.23	1.55
Q1 2011	1,573.12	(11.2 %)	0.31	-	1,400.25	0.28
Q2 2011	2,256.37	9.4 %	0.45	-	2,258.91	0.45
Q3 2011	1,562.48	(52.9 %)	0.31	-	1,508.81	0.30
Q4 2011	2,336.69	2.2 %	0.47	-	1,908.70	0.38
2011	7,728.65	(18.1 %)	1.55	-	7,076.68	1.42
Q1 2012	2,521.16	60.3 %	0.50	-	2,524.97	0.50
Q2 2012	2,407.57	6.7 %	0.48	-	2,412.13	0.48
Q3 2012	1,953.80	25.0 %	0.39	-	1,987.37	0.40
Q4 2012	393.44	(83.2 %)	0.08	-	583.68	0.12
2012	7,275.96	(5.9 %)	1.46	-	7,508.16	1.50
Q1 2013	1,549.96	(38.5 %)	0.31	-	1,776.50	0.36
Q2 2013	1,428.95	(40.6 %)	0.29	-	2,575.70	0.52
Q3 2013	3,385.59	73.3 %	0.68	-	3,346.30	0.67
Q4 2013	3,532.57	797.9 %	0.71	-	3,045.06	0.61
2013	9,897.07	36.0 %	1.98	-	10,743.55	2.15
Q1 2014	2,390.94	54.3 %	0.48	-	2,390.29	0.48
Q2 2014	2,803.35	96.2 %	0.56	-	2,853.92	0.57
Q3 2014	3,371.75	(0.4 %)	0.67	-	3,368.89	0.67
Q4 2014	2,442.39	(30.9 %)	0.49	-	2,284.60	0.46
2014	10,959.49	10.7 %	2.19	-	10,848.77	2.17
Q1 2015	2,503.58	4.7 %	0.50	-	2,549.25	0.51
Q2 2015	2,558.33	(8.7 %)	0.51	-	2,613.61	0.52
Q3 2015	2,322.15	(31.1 %)	0.46	-	2,410.68	0.48
Q4 2015	1,950.49	(20.1 %)	0.39	-	1,852.45	0.37
2015	9,258.43	(15.5 %)	1.85	-	9,349.87	1.87
Q1 2016	2,396.58	(4.3 %)	0.48	-	2,475.82	0.50
Q2 2016	2,202.19	(13.9 %)	0.44	-	2,195.70	0.44
Q3 2016	2,216.94	(4.5 %)	0.44	-	2,257.72	0.45
Q4 2016	2,083.16	6.8 %	0.42	-	1,979.82	0.40
2016	8,898.86	(3.9 %)	1.78	-	8,909.07	1.78
Q1 2017	2,534.75	5.8 %	0.51	-	2,534.75	0.51
Q2 2017	2,356.48	7.0 %	0.47	-	2,356.48	0.47
Q3 2017	2,569.37	15.9 %	0.51	-	2,569.37	0.51
Q4 2017	2,554.98	22.6 %	0.51	-	2,554.98	0.51
2017	10,015.58	12.5 %	2.00	-	10,015.58	2.00
Q1 2018	2,587.53	2.1 %	0.52	-	2,587.53	0.52
Q2 2018	2,444.05	3.7 %	0.49	-	2,444.05	0.49

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2008	11,037.85	(8.2 %)	2.21	-	11,457.40	2.29
2009	10,863.36	(1.6 %)	2.17	-	10,289.17	2.06
2010	9,436.33	(13.1 %)	1.89	-	7,767.23	1.55
2011	7,728.65	(18.1 %)	1.55	-	7,076.68	1.42
2012	7,275.96	(5.9 %)	1.46	-	7,508.16	1.50
2013	9,897.07	36.0 %	1.98	-	10,743.55	2.15
2014	10,959.49	10.7 %	2.19	-	10,848.77	2.17
2015	9,258.43	(15.5 %)	1.85	-	9,349.87	1.87
2016	8,898.86	(3.9 %)	1.78	-	8,909.07	1.78
2017	10,015.58	12.5 %	2.00	-	10,015.58	2.00

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	72.94 %	45.51 %	22.10 %
Q2 2009	69.31 %	44.94 %	20.10 %
Q3 2009	64.87 %	44.00 %	18.33 %
Q4 2009	61.05 %	40.59 %	20.26 %
2009	61.05 %	40.59 %	20.26 %
Q1 2010	59.13 %	38.04 %	18.46 %
Q2 2010	58.46 %	36.87 %	16.76 %
Q3 2010	58.38 %	37.29 %	16.59 %
Q4 2010	58.55 %	37.89 %	15.00 %
2010	58.55 %	37.89 %	15.00 %
Q1 2011	58.56 %	38.16 %	14.11 %
Q2 2011	58.30 %	38.33 %	14.10 %
Q3 2011	57.81 %	37.38 %	12.29 %
Q4 2011	56.28 %	35.98 %	12.71 %
2011	56.28 %	35.98 %	12.71 %
Q1 2012	56.23 %	36.23 %	15.29 %
Q2 2012	56.25 %	36.51 %	16.45 %
Q3 2012	55.92 %	36.12 %	18.33 %
Q4 2012	56.46 %	36.37 %	16.78 %
2012	56.46 %	36.37 %	16.78 %
Q1 2013	56.32 %	36.28 %	14.97 %
Q2 2013	56.63 %	37.08 %	15.19 %
Q3 2013	58.25 %	39.08 %	18.18 %
Q4 2013	60.11 %	40.50 %	23.56 %
2013	60.11 %	40.50 %	23.56 %
Q1 2014	60.41 %	41.03 %	25.29 %
Q2 2014	60.66 %	40.71 %	25.74 %
Q3 2014	61.16 %	41.37 %	25.61 %
Q4 2014	61.07 %	41.16 %	23.64 %
2014	61.44 %	41.59 %	23.67 %
Q1 2015	61.69 %	41.53 %	23.13 %
Q2 2015	61.35 %	41.33 %	22.39 %
Q3 2015	59.94 %	39.46 %	19.94 %
Q4 2015	59.69 %	38.10 %	18.54 %
2015	59.91 %	38.09 %	18.46 %
Q1 2016	57.91 %	36.88 %	18.13 %
Q2 2016	57.18 %	36.19 %	16.93 %
Q3 2016	55.04 %	34.38 %	16.29 %
Q4 2016	53.44 %	33.59 %	16.60 %
2016	53.44 %	33.59 %	16.60 %
Q1 2017	53.87 %	33.53 %	16.93 %
Q2 2017	53.18 %	32.69 %	17.35 %
Q3 2017	55.20 %	34.28 %	18.44 %
Q4 2017	56.39 %	37.24 %	19.76 %
2017	56.39 %	37.24 %	19.76 %
Q1 2018	56.61 %	37.32 %	19.93 %
Q2 2018	57.07 %	38.25 %	20.09 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	75.41 %	45.80 %	24.14 %
2009	61.05 %	40.59 %	20.26 %
2010	58.55 %	37.89 %	15.00 %
2011	56.28 %	35.98 %	12.71 %
2012	56.46 %	36.37 %	16.78 %
2013	60.11 %	40.50 %	23.56 %
2014	61.44 %	41.59 %	23.67 %
2015	59.91 %	38.09 %	18.46 %
2016	53.44 %	33.59 %	16.60 %
2017	56.39 %	37.24 %	19.76 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	65.16 %	46.21 %	21.63 %
Q2 2009	60.94 %	40.52 %	23.42 %
Q3 2009	59.96 %	39.37 %	18.67 %
Q4 2009	58.41 %	36.64 %	17.49 %
Q1 2010	57.19 %	35.62 %	14.23 %
Q2 2010	58.25 %	35.77 %	16.55 %
Q3 2010	59.59 %	40.94 %	17.99 %
Q4 2010	59.08 %	38.97 %	11.32 %
Q1 2011	57.27 %	36.82 %	10.71 %
Q2 2011	57.29 %	36.64 %	16.27 %
Q3 2011	57.60 %	37.09 %	10.77 %
Q4 2011	53.20 %	33.54 %	12.99 %
Q1 2012	57.19 %	38.20 %	22.81 %
Q2 2012	57.68 %	38.05 %	21.90 %
Q3 2012	56.51 %	35.55 %	17.39 %
Q4 2012	54.48 %	33.75 %	5.20 %
Q1 2013	56.60 %	37.77 %	15.48 %
Q2 2013	58.90 %	41.17 %	22.53 %
Q3 2013	62.95 %	43.54 %	29.28 %
Q4 2013	62.04 %	39.53 %	27.02 %
Q1 2014	57.60 %	39.79 %	22.17 %
Q2 2014	59.92 %	39.92 %	24.35 %
Q3 2014	64.83 %	46.02 %	28.66 %
Q4 2014	61.62 %	38.82 %	19.28 %
Q1 2015	60.48 %	41.37 %	20.44 %
Q2 2015	58.62 %	39.22 %	21.38 %
Q3 2015	59.13 %	38.45 %	18.70 %
Q4 2015	60.48 %	33.66 %	13.98 %
Q1 2016	53.49 %	36.42 %	18.72 %
Q2 2016	55.70 %	36.30 %	16.37 %
Q3 2016	50.75 %	31.31 %	16.10 %
Q4 2016	53.98 %	30.36 %	15.22 %
Q1 2017	55.28 %	36.33 %	20.24 %
Q2 2017	52.99 %	33.01 %	18.07 %
Q3 2017	58.64 %	37.59 %	20.36 %
Q4 2017	58.77 %	42.19 %	20.44 %
Q1 2018	56.16 %	36.66 %	20.95 %
Q2 2018	54.80 %	36.63 %	18.69 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2009	5,000.00	2.10	2.21	7.48
Q2 2009	5,000.00	1.93	2.04	7.90
Q3 2009	5,000.00	1.81	1.84	8.13
Q4 2009	5,000.00	2.17	2.06	8.41
Q1 2010	5,000.00	2.03	1.89	8.50
Q2 2010	5,000.00	1.84	1.71	8.45
Q3 2010	5,000.00	2.03	1.70	8.94
Q4 2010	5,000.00	1.89	1.55	9.00
Q1 2011	5,000.00	1.85	1.48	9.05
Q2 2011	5,000.00	1.89	1.51	9.26
Q3 2011	5,000.00	1.54	1.34	9.15
Q4 2011	5,000.00	1.55	1.42	9.38
Q1 2012	5,000.00	1.74	1.64	9.81
Q2 2012	5,000.00	1.77	1.67	10.03
Q3 2012	5,000.00	1.84	1.77	10.34
Q4 2012	5,000.00	1.46	1.50	10.27
Q1 2013	5,000.00	1.26	1.35	10.34
Q2 2013	5,000.00	1.07	1.38	10.39
Q3 2013	5,000.00	1.35	1.66	10.81
Q4 2013	5,000.00	1.98	2.15	11.25
Q1 2014	5,000.00	2.15	2.27	11.40
Q2 2014	5,000.00	2.42	2.33	11.74
Q3 2014	5,000.00	2.42	2.33	12.04
Q4 2014	5,000.00	2.20	2.18	12.08
Q1 2015	5,000.00	2.22	2.21	12.06
Q2 2015	5,000.00	2.18	2.16	12.13
Q3 2015	5,000.00	1.97	1.97	12.07
Q4 2015	5,000.00	1.87	1.89	12.11
Q1 2016	5,000.00	1.85	1.87	11.94
Q2 2016	5,000.00	1.77	1.79	11.88
Q3 2016	5,000.00	1.75	1.76	11.90
Q4 2016	5,000.00	1.78	1.78	11.99
Q1 2017	5,000.00	1.81	1.79	12.11
Q2 2017	5,000.00	1.84	1.83	12.21
Q3 2017	5,000.00	1.91	1.89	12.33
Q4 2017	5,000.00	2.00	2.00	12.57
Q1 2018	5,000.00	2.01	2.01	12.69
Q2 2018	5,000.00	2.03	2.03	12.76

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	5,000.00	2.21	2.29	7.53
2009	5,000.00	2.17	2.06	8.41
2010	5,000.00	1.89	1.55	9.00
2011	5,000.00	1.55	1.42	9.38
2012	5,000.00	1.46	1.50	10.27
2013	5,000.00	1.98	2.15	11.25
2014	5,000.00	2.19	2.17	12.08
2015	5,000.00	1.85	1.87	12.11
2016	5,000.00	1.78	1.78	11.99
2017	5,000.00	2.00	2.00	12.57

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2009	7.60	7.22	2.13
Q2 2009	10.68	10.11	2.61
Q3 2009	11.12	10.95	2.47
Q4 2009	8.12	8.57	2.10
Q1 2010	9.36	10.06	2.24
Q2 2010	8.18	8.81	1.78
Q3 2010	7.64	9.08	1.73
Q4 2010	9.03	10.97	1.89
Q1 2011	8.34	10.43	1.70
Q2 2011	7.72	9.63	1.57
Q3 2011	8.86	10.17	1.49
Q4 2011	8.75	9.55	1.44
Q1 2012	9.40	9.95	1.66
Q2 2012	8.95	9.46	1.57
Q3 2012	8.61	8.99	1.54
Q4 2012	11.90	11.53	1.69
Q1 2013	12.44	11.60	1.52
Q2 2013	14.98	11.53	1.54
Q3 2013	12.78	10.43	1.60
Q4 2013	10.81	9.96	1.90
Q1 2014	12.29	11.62	2.32
Q2 2014	11.02	11.47	2.27
Q3 2014	12.29	12.76	2.47
Q4 2014	11.94	12.06	2.18
Q1 2015	11.29	11.35	2.08
Q2 2015	12.41	12.48	2.23
Q3 2015	12.47	12.43	2.03
Q4 2015	14.66	14.52	2.26
Q1 2016	13.92	13.74	2.15
Q2 2016	14.52	14.41	2.17
Q3 2016	12.69	12.67	1.87
Q4 2016	16.31	16.29	2.42
Q1 2017	14.80	14.91	2.21
Q2 2017	16.76	16.88	2.52
Q3 2017	14.83	14.99	2.30
Q4 2017	13.70	13.70	2.18
Q1 2018	16.46	16.46	2.61
Q2 2018	17.66	17.66	2.81

Period	P/E	Adjusted P/E	Price/book
2008	8.90	8.57	2.61
2009	8.12	8.57	2.10
2010	9.03	10.97	1.89
2011	8.75	9.55	1.44
2012	11.90	11.53	1.69
2013	10.81	9.96	1.90
2014	12.00	12.12	2.18
2015	14.78	14.64	2.26
2016	16.31	16.29	2.42
2017	13.70	13.70	2.18

Business Segments (Million)

Compared With The

Period	STC (Saudi arabia)	STC channels Company	Other operating segments	Consolidation adjustments & eliminations	GSM	Landline	DATA	Un-allocated
Q1 2009	-	-	-	-	8,203.41	2,276.02	1,641.09	22.26
Q2 2009	-	-	-	-	8,078.78	2,660.90	1,889.14	45.31
Q3 2009	-	-	-	-	8,763.77	2,321.57	1,813.36	35.55
Q4 2009	-	-	-	-	9,042.06	2,027.64	1,903.96	55.28
Q1 2010	-	-	-	-	8,370.42	2,321.45	1,754.34	73.42
Q2 2010	-	-	-	-	8,274.92	2,514.25	1,744.81	57.26
Q3 2010	-	-	-	-	8,698.56	2,678.44	1,744.34	111.06
Q4 2010	-	-	-	-	8,815.84	2,641.88	1,897.42	88.43
Q1 2011	-	-	-	-	8,612.49	2,145.44	2,210.45	107.93
Q2 2011	-	-	-	-	9,300.53	2,165.08	2,279.18	134.88
Q3 2011	-	-	-	-	9,535.33	1,968.75	2,358.25	152.78
Q4 2011	-	-	-	-	10,460.75	2,030.05	2,539.65	(339.46)
Q1 2012	-	-	-	-	7,231.45	3,163.66	775.96	(103.71)
Q2 2012	-	-	-	-	5,953.44	2,773.26	2,747.33	(461.00)
Q3 2012	-	-	-	-	6,321.44	3,061.54	2,038.38	8.55
Q4 2012	-	-	-	-	6,534.06	3,295.52	1,450.81	(45.62)
Q1 2013	-	-	-	-	5,912.96	3,401.35	2,121.21	38.36
Q2 2013	-	-	-	-	6,276.02	3,413.90	1,645.45	98.11
Q3 2013	-	-	-	-	5,947.77	3,195.58	2,156.72	126.77
Q4 2013	-	-	-	-	6,048.69	3,174.74	2,296.23	(249.24)
Q1 2014	-	-	-	-	6,038.19	3,013.96	1,728.00	2.75
Q2 2014	-	-	-	-	6,352.36	3,157.29	2,215.10	(2.75)
Q3 2014	-	-	-	-	6,159.92	2,950.32	2,639.42	4.95
Q4 2014	-	-	-	-	6,070.61	3,035.10	2,471.11	(10.68)
Q1 2015	-	-	-	-	8,440.66	3,066.91	967.15	(1.23)
Q2 2015	-	-	-	-	7,996.74	3,171.23	1,057.86	(3.68)
Q3 2015	-	-	-	-	8,401.59	2,981.61	1,511.66	(0.15)
Q4 2015	-	-	-	-	8,640.52	3,050.16	1,273.82	95.77
Q1 2016	11,140.70	864.25	1,976.63	(752.96)	-	-	-	-
Q2 2016	11,759.92	814.10	2,092.28	(1253.32)	-	-	-	-
Q3 2016	11,578.66	694.60	2,148.24	(395.70)	-	-	-	-
Q4 2016	11,718.75	655.71	1,988.92	(2357.10)	-	-	-	-
Q1 2017	10,797.74	666.17	1,613.10	(552.90)	-	-	-	-
Q2 2017	11,131.56	742.11	2,239.26	(1071.76)	-	-	-	-
Q3 2017	9,839.32	467.79	2,071.73	242.50	-	-	-	-
Q4 2017	9,676.60	1,179.03	2,425.11	(806.03)	-	-	-	-
Q1 2018	9,698.95	1,252.37	2,042.44	(644.69)	-	-	-	-
Q2 2018	9,897.49	1,647.03	2,430.66	(895.78)	-	-	-	-

Period	STC (Saudi arabia)	STC channels Company	Other operating segments	Consolidation adjustments & eliminations	GSM	Landline	DATA	Un-allocated
2008	-	-	-	-	28,132.70	15,059.39	4,211.44	65.84
2009	-	-	-	-	30,052.19	14,122.20	6,447.30	158.39
2010	-	-	-	-	31,544.33	14,057.80	5,854.53	330.17
2011	-	-	-	-	34,884.28	13,798.55	7,053.41	(74.16)
2012	-	-	-	-	26,040.39	12,293.99	7,012.49	(601.79)
2013	-	-	-	-	24,185.44	13,185.56	8,219.62	14.01
2014	-	-	-	-	29,466.98	13,158.71	3,205.69	(5.73)
2015	-	-	-	-	33,479.51	12,269.91	4,810.49	90.71
2016	46,198.02	3,028.66	8,206.06	(4759.08)	-	-	-	-
2017	41,445.23	3,055.10	8,349.20	(2188.19)	-	-	-	-

Analysts Estimates (Million)

Item	Q2 2018 (e)	Q2 2018 (a)	Change‬
Average	2,517.17	2,444.05	(2.9 %)

Estimates vs Actual (Million)

Item	Q2 2018 (e)	Q2 2018 (a)	Change
Sico	2,470.00	2,444.05	(1.1) %
Albilad Capital	2,484.00	2,444.05	(1.6) %
OSOOL AND BAKHEET	2,353.20	2,444.05	3.9 %
SNB Capital	2,304.00	2,444.05	6.1 %
AlJazira Capital	2,625.00	2,444.05	(6.9) %
Riyad Capital	2,675.00	2,444.05	(8.6) %
Al Rajhi Capital	2,709.00	2,444.05	(9.8) %

Financial Ratios

	Current
Market Cap (M Riyal)	195,000.00
Enterprise Value (EV) (M)	192,557.14
Shares Outstanding ((M))	5,000.00
EPS ( Riyal) (TTM)	2.69
Book Value (BV) ( Riyal)	16.09
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	17.23
P/E (TTM)	14.47
Price/book	2.42
Return on Average Assets (%) (TTM)	9.0
Return on Average Equity (%) (TTM)	17.4

Saudi Telecom Co. (STC)

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Saudi Telecom’s H1 net profit up 3% to SAR 5 bln

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Saudi Telecom’s H1 net profit up 3% to SAR 5 bln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

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Business Segments (Million) Q2 2018

Revenue by Business Segment (Latest) 2018 Q2

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Analysts Estimates (Million)

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Saudi Telecom Co. (STC)

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Business Segments (Million)