Financial Results : stc 2020 net profit up 3% to SAR 10.99 bln

stc 2020 net profit up 3% to SAR 10.99 bln

21/01/2021 Argaam Exclusive

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stc reported an annual net profit after Zakat and tax of SAR 10.995 billion for 2020, rising 3% year-on-year (YoY), due to a SAR 4.58 billion increase in revenues.



Financials (M)

Item 2019 2020 Change‬
Revenues 54,367.53 58,953.32 8.4 %
Gross Income 32,391.23 33,954.40 4.8 %
Operating Income 12,480.39 12,731.13 2.0 %
Net Income 10,664.67 10,994.88 3.1 %
Average Shares 5,000.00 5,000.00 -
Earnings Per Share before unusual items (Riyals) 2.08 2.07 (0.3 %)
EPS (Riyals) 2.13 2.20 3.1 %

Q4 2020 net profit increased 16% YoY to SAR 2.68 billion, driven by a SAR 1.95 billion rise in revenue, and higher government and access charges.

 

The telecom operator also cited lower operating expenses and decreased selling and marketing expenses.

 

On a sequential basis, Q4 2020 net profit dipped 3%.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 13,264.59 15,216.80 14.7 %
Gross Income 8,359.64 8,446.57 1.0 %
Operating Income 2,399.82 3,205.33 33.6 %
Net Income 2,320.71 2,592.38 11.7 %
Average Shares 5,000.00 5,000.00 -
Earnings Per Share before unusual items (Riyals) 0.41 0.52 27.5 %
EPS (Riyals) 0.46 0.52 11.7 %

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