Financial Results : stc profit rises 3% to SAR 11.31 bln in 2021; Q4 earnings at SAR 2.61 bln

stc profit rises 3% to SAR 11.31 bln in 2021; Q4 earnings at SAR 2.61 bln

21/02/2022 Argaam Exclusive

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stc reported a net profit after Zakat and tax of SAR 11.31 billion for 2021, a rise of 2.9% from SAR 11 billion in the year-ago period.

 

The company attributed the profit growth to higher revenue, lower operating expenses as well as lower Zakat and income tax.



Financials (M)

Item 2020 2021 Change‬
Revenues 58,953.32 63,007.99 6.9 %
Gross Income 33,954.40 33,794.03 (0.5 %)
Operating Income 12,731.13 13,127.76 3.1 %
Net Income 10,994.88 11,311.34 2.9 %
Average Shares 5,000.00 5,000.00 -
EPS (Riyals) 2.20 2.26 2.9 %

The telecom operator reported a net profit of SAR 2.61 billion for the fourth quarter of 2021, a 0.8% year-on-year (YoY) increase.

 

On a sequential basis, stc reported a 10.6% profit decline in Q4 2021 from SAR 2.92 billion in Q3 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 15,216.80 15,678.37 3.0 %
Gross Income 8,446.57 8,515.85 0.8 %
Operating Income 3,205.33 3,204.15 0.0 %
Net Income 2,592.38 2,613.65 0.8 %
Average Shares 5,000.00 5,000.00 -
EPS (Riyals) 0.52 0.52 0.8 %

Total shareholders’ equity, after minority interest, rose 8.3% to SAR 69.27 billion as of Dec. 31, 2021, from SAR 63.95 billion a year earlier.

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