Financial Results : stc net profit up 1% to SAR 2.952 bln in Q1 2021

stc net profit up 1% to SAR 2.952 bln in Q1 2021

22/04/2021 Argaam Exclusive

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stc reported a net profit after Zakat and tax of SAR 2.952 billion for the first quarter of 2021, a rise of 1% from SAR 2.913 billion in the year-ago period.

 

The profit growth was driven by a revenue increase of SAR 1.76 billion, along with a decline of SAR 116 million in operating expenses amid lower general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 13,934.85 15,695.50 12.6 %
Gross Income 8,195.88 8,557.10 4.4 %
Operating Income 3,004.03 3,481.61 15.9 %
Net Income 2,912.75 2,952.09 1.4 %
Average Shares 5,000.00 5,000.00 -
EPS (Riyals) 0.58 0.59 1.4 %

The first-quarter net profit jumped 13.9% quarter-on-quarter from SAR 2.69 billion.

 

Shareholders’ equity, excluding minority interest, rose by 3.4% to SAR 65 billion by the end of Q1 2021, from SAR 62.87 billion in prior-year period.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
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 %
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 %)
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 %)
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 %)
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 %
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 %
Q3 2018 13,319.89 5.5 % 7,850.74 6.1 % 3,235.52 11.3 %
Q4 2018 13,214.89 5.7 % 8,520.31 16.0 % 3,476.44 20.7 %
Q1 2019 13,385.75 8.4 % 7,903.48 14.0 % 3,275.20 24.4 %
Q2 2019 13,603.56 4.0 % 8,207.29 14.5 % 3,477.32 19.9 %
Q3 2019 14,113.63 6.0 % 7,920.82 0.9 % 3,328.05 2.9 %
Q4 2019 13,264.59 0.4 % 8,359.64 (1.9 %) 2,399.82 (31.0 %)
Q1 2020 13,934.85 4.1 % 8,195.88 3.7 % 3,004.03 (8.3 %)
Q2 2020 14,920.23 9.7 % 8,340.99 1.6 % 3,062.17 (11.9 %)
Q3 2020 14,881.43 5.4 % 8,970.96 13.3 % 3,459.60 4.0 %
Q4 2020 15,216.80 14.7 % 8,446.57 1.0 % 3,205.33 33.6 %
Q1 2021 15,695.50 12.6 % 8,557.10 4.4 % 3,481.61 15.9 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 2,521.16 60.3 % 0.50 (3.81) 2,524.97 0.50
Q2 2012 2,407.57 6.7 % 0.48 (4.56) 2,412.13 0.48
Q3 2012 1,953.80 25.0 % 0.39 (33.58) 1,987.37 0.40
Q4 2012 393.44 (83.2 %) 0.08 (190.25) 583.68 0.12
Q1 2013 1,549.96 (38.5 %) 0.31 (226.53) 1,776.50 0.36
Q2 2013 1,428.95 (40.6 %) 0.29 (1146.75) 2,575.70 0.52
Q3 2013 3,385.59 73.3 % 0.68 39.29 3,346.30 0.67
Q4 2013 3,532.57 797.9 % 0.71 487.51 3,045.06 0.61
Q1 2014 2,390.94 54.3 % 0.48 0.64 2,390.29 0.48
Q2 2014 2,803.35 96.2 % 0.56 (50.57) 2,853.92 0.57
Q3 2014 3,371.75 (0.4 %) 0.67 2.86 3,368.89 0.67
Q4 2014 2,442.39 (30.9 %) 0.49 157.79 2,284.60 0.46
Q1 2015 2,503.58 4.7 % 0.50 (45.68) 2,549.25 0.51
Q2 2015 2,558.33 (8.7 %) 0.51 (55.28) 2,613.61 0.52
Q3 2015 2,322.15 (31.1 %) 0.46 (88.53) 2,410.68 0.48
Q4 2015 1,950.49 (20.1 %) 0.39 98.04 1,852.45 0.37
Q1 2016 2,396.58 (4.3 %) 0.48 (79.24) 2,475.82 0.50
Q2 2016 2,202.19 (13.9 %) 0.44 6.48 2,195.70 0.44
Q3 2016 2,216.94 (4.5 %) 0.44 (40.79) 2,257.72 0.45
Q4 2016 2,083.16 6.8 % 0.42 103.34 1,979.82 0.40
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
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
Q3 2018 2,642.62 2.9 % 0.53 - 2,642.62 0.53
Q4 2018 3,105.58 21.5 % 0.62 411.00 2,694.58 0.54
Q1 2019 2,749.74 6.3 % 0.55 - 2,749.74 0.55
Q2 2019 2,848.02 16.5 % 0.57 - 2,848.02 0.57
Q3 2019 2,746.20 3.9 % 0.55 - 2,746.20 0.55
Q4 2019 2,320.71 (25.3 %) 0.46 287.48 2,033.23 0.41
Q1 2020 2,912.75 5.9 % 0.58 496.00 2,416.75 0.48
Q2 2020 2,724.22 (4.3 %) 0.54 152.00 2,572.22 0.51
Q3 2020 2,765.54 0.7 % 0.55 - 2,765.54 0.55
Q4 2020 2,592.38 11.7 % 0.52 - 2,592.38 0.52
Q1 2021 2,952.09 1.4 % 0.59 - 2,952.09 0.59

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
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 %
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 %
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 %
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 %
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 %
Q1 2018 56.61 % 37.32 % 19.93 %
Q2 2018 57.07 % 38.25 % 20.09 %
Q3 2018 57.17 % 38.48 % 19.96 %
Q4 2018 58.64 % 38.17 % 19.95 %
Q1 2019 59.32 % 39.05 % 19.87 %
Q2 2019 60.69 % 40.28 % 20.43 %
Q3 2019 59.93 % 39.89 % 20.32 %
Q4 2019 59.58 % 39.11 % 19.09 %
Q1 2020 59.51 % 38.62 % 18.29 %
Q2 2020 58.36 % 37.16 % 17.37 %
Q3 2020 59.42 % 37.62 % 17.17 %
Q4 2020 57.60 % 37.47 % 17.55 %
Q1 2021 56.52 % 37.23 % 17.92 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q3 2018 5,000.00 2.05 2.05 12.87
Q4 2018 5,000.00 2.16 2.07 13.10
Q1 2019 5,000.00 2.19 2.11 13.67
Q2 2019 5,000.00 2.27 2.19 12.51
Q3 2019 5,000.00 2.29 2.21 12.24
Q4 2019 5,000.00 2.13 2.08 12.35
Q1 2020 5,000.00 2.17 2.01 12.57
Q2 2020 5,000.00 2.14 1.95 12.58
Q3 2020 5,000.00 2.14 1.96 12.73
Q4 2020 5,000.00 2.20 2.07 12.79
Q1 2021 5,000.00 2.21 2.18 13.01

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2018 16.72 16.72 2.66
Q4 2018 17.03 17.71 2.80
Q1 2019 19.67 20.43 3.15
Q2 2019 18.30 18.98 3.32
Q3 2019 19.01 19.71 3.55
Q4 2019 19.09 19.62 3.30
Q1 2020 16.16 17.42 2.78
Q2 2020 18.50 20.27 3.15
Q3 2020 18.73 20.52 3.15
Q4 2020 19.28 20.49 3.32
Q1 2021 22.98 23.30 3.90

Business Segments (Million)

Compared With The
Period STC (Saudi arabia) STC channels Company Solutions Other operating segments Consolidation adjustments & eliminations GSM Landline DATA Un-allocated
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) - - - -
Q3 2018 10,197.06 1,110.89 - 2,416.37 (404.43) - - - -
Q4 2018 9,562.79 12,872.44 - 2,613.09 (11833.44) - - - -
Q1 2019 9,512.20 2,322.58 - 2,531.06 (980.09) - - - -
Q2 2019 10,340.08 6,278.51 - 3,051.22 (6066.25) - - - -
Q3 2019 10,294.47 4,341.27 - 3,354.69 (3876.80) - - - -
Q4 2019 10,112.36 4,467.44 - 3,691.23 (5006.43) - - - -
Q1 2020 10,333.04 4,295.21 - 3,610.19 (4303.59) - - - -
Q2 2020 10,283.06 4,966.19 - 3,779.31 (4108.33) - - - -
Q3 2020 11,041.84 3,706.50 - 4,215.33 (4082.24) - - - -
Q4 2020 11,240.89 4,559.90 - 4,129.05 (4713.03) - - - -
Q1 2021 11,258.37 4,929.84 1,866.79 2,254.30 (4613.80) - - - -

Analysts Estimates (Million)

Item Q1 2021 (e) Q1 2021 (a) Change‬
Average 2,688.17 2,952.09 9.82 %

Estimates vs Actual (Million)

Item Q1 2021 (e) Q1 2021 (a) Change
Riyad Capital 2,796.00 2,952.09 5.6 %
AlJazira Capital 2,642.50 2,952.09 11.7 %
Al Rajhi Capital 2,626.00 2,952.09 12.4 %

Current
Market Cap (M Riyal) 201,250.00
Enterprise Value (EV) (M) 194,795.01
Shares Outstanding ((M)) 5,000.00
EPS ( Riyal) (TTM) 2.70
Book Value (BV) ( Riyal) 15.86
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 16.61
P/E (TTM) 14.90
Price/book 2.54
Return on Average Assets (%) (TTM) 8.5
Return on Average Equity (%) (TTM) 17.1

Share Price

40.25
0.15 0.37 %

Saudi Telecom Co. (STC)


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