Page 24 - SAMENA Trends - July-August 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

platform that provides the latest “Buy Now, stages to the arbitration committee, which ects, by providing a specialized workshops
Pay Later” solutions, the “Siolla” application is based on evaluating them on several cri- and technical advisory sessions for this
that helps individuals to invest their surplus teria, including the quality of the idea, the track. " It’s also worth mentioning that the
funds, and the “FKEACI” platform to verify work team, the possibility of expansion, and inspireU program since its launch in 2015
customers identity by using the artificial in- the business model. Where rental commit- has been able to incubated 75 emerg-
telligence and automated learning to detect tee of the arbitration has interviewed with ing projects in various fields, as graduate
plagiarism. Innovation Pioneers (IPSA) pro- projects founders and chose the best proj- companies have obtained investments
vides an innovative and secure authentica- ects to embrace them in the ninth intake to worth more than 500 million Riyals, while
tion system that enables their users to ver- benefit from inspireU services. The Chief in- the market value of these investments
ify remotely using encryption technologies vestment officer, Motaz Alangari said: “The amounts to more than 10 billion Riyals, and
to reduce cyber risks and "Sabry" simulates inspireU program in this intake included a inspireU projects use more than 40 million
phishing and automate response to email special tack to support projects in cyber- users, and financial transactions for incu-
incidents. These projects were qualified out security in cooperation with sirar from stc bated projects worth more than 12 billion
of more than 600 projects applied for the group, the digital provider of cybersecurity riyals, and contribute to the creation of 600
9th intake of the program after they passed services. Alangari stressed that the es- thousand jobs in the market of the region.
all the levels of screening, which includ- tablishment of this track aims to enhance
ed presenting eligible projects in the final local content and enable digital cyber proj-

stc’s Revenues for Q2 and First Half Of 2022 Compared to the Comparable
Quarter and First Half of Last Year Increased by 6.54% & 7.39% Respectively

stc announced the company’s In accordance with the approved dividend the close of trading on Sunday 07-08-2022
preliminary financial results for the policy for three years starting from the 4th and as per the registered shareholders in
period ending at 30 June 2022: quarter 2021, which was announced on stc’s shareholders registry in the Depository
• Revenues for the 2nd quarter reached 27 September 2021, and has been ratified Center at the end of the 2nd trading day
SAR 16,939m with an increase of during the Ordinary General Assembly following the eligibility date. Dividend
6.54% compared to the corresponding Meeting on November 30th 2021, stc will distribution date will be on 25-08-2022.
quarter last year. For the first half distribute a total of SAR 1,997.5 million Consequently, Alwetaid stated, “Among
of 2022, the revenues reached SAR in cash dividend to the shareholders for these investments is the establishment
33,930m an increase of 7.39%. the 2nd quarter 2022, representing SAR 1 of a major digital center for the Middle
• Gross Profit for the 2nd quarter reached per share as the total number of Treasury East and North Africa "MENA HUB” with
to SAR 9,174m with an increase of shares related to the Employees Stock capital of nearly SAR 4 billion, which will
9.84% compared to the corresponding Incentives Plan stood at 2,499,963 shares strengthen the Kingdom's position as a
quarter last year. For the first half of at the end of the second quarter 2022 significant digital center in the region and
2022, the Gross Profit reached SAR and those shares are not entitled for any the world. Moreover, a new company in the
18,324m with an increase of 8.37%. dividends distribution. The eligibility of field of IoT was established in partnership
• Operating Profit for the 2nd quarter dividends shall be for the shareholders at with the Public Investment Fund (PIF) to
reached to SAR 3,720m with an increase
of 14.46% compared to the corresponding
quarter last year. For the first half of
2022, the Operating Profit reached SAR
7,543m with an increase of 12.05%.
• Earnings before Interest, Taxes, Zakat,
Depreciation and Amortization (EBITDA)
for the 2nd quarter reached to SAR 6,204m
with an increase of 10.25% compared to
the corresponding quarter last year. For
the first half of 2022, the Earnings before
Interest, Taxes, Zakat, Depreciation and
Amortization (EBITDA) reached SAR
12,504m with an increase of 9.03%.
• Net Profit for the 2nd quarter reached
to SAR 2,837m with an increase of
0.57% compared to the corresponding
quarter last year. For the first half
of 2022, the Net Profit reached SAR
5,872m with an increase of 1.71%.

24 JULY-AUGUST 2022