Page 20 - SAMENA Trends - October 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

MEMBERS NEWS

stc’s Net Income for Q3 And 9 Months Of 2021
Compared to the Comparable Quarter and Same
Period of Last Year Increased By 5.71% & 3.52%

(Respectively)

stc has announced the company’s preliminary financial
results for the period ending at 30 September 2021:
• Revenues for the 3rd quarter reached SR 15,735m with
an increase of 5.74% compared to the corresponding
quarter last year. For the 9 months period of 2021, the
revenues reached SR 47,330m an increase of 8.22%.
• Gross Profit for the 3rd quarter reached to SR 8,369m with
a decrease of (6.71%) compared to the corresponding
quarter last year. For the 9 months period of 2021, the Gross
Profit reached SR 25,278m with a decrease of (0.90%).
• Operating Profit for the 3rd quarter reached to SR 3,192m
with a decrease of (7.75%) compared to the corresponding
quarter last year. For the 9 months period of 2021, the
Operating Profit reached SR 9,924m with an increase of 4.18%.
• Earnings before Interest, Taxes, Zakat, Depreciation and
Amortization (EBITDA) for the 3rd quarter reached to SR 5,606m
with a decrease of (3.14%) compared to the corresponding
quarter last year. For the 9 months period of 2021, the Earnings
before Interest, Taxes, Zakat, Depreciation and Amortization
(EBITDA) reached SR 17,073m with an increase of 3.72%
• Net Profit for the 3rd quarter reached to SR 2,924m with
an increase of 5.71% compared to the corresponding
quarter last year. For the 9 months period of 2021, the
Net Profit reached SR 8,698m with an increase of 3.52%.
In accordance with the approved dividend policy for three years
starting from the 4th quarter 2018, which was announced on 16
December 2018, and has been ratified during the Extra Ordinary
General Assembly Meeting on April 24th 2019, stc will distribute a
total of SR 1,997 million in cash dividend for Q3 2021, representing

SR 1 per share. The eligibility of dividends shall be for the
shareholders at the close of trading on Thursday 28/10/2021
corresponding to 22/03/1443 H and as per the registered
shareholders in the register of The Securities Depository the unit being well positioned to cater to the strong demand
Center Company at the end of the 2nd trading day following the from the public and private sectors. The Wholesale business
eligibility date. Dividend distribution date will be on 18/11/2021 unit also contributed positively to the company’s performance,
corresponding to 13/04/1443H. Commenting on these results, as it registered 3.4% revenue growth during the period due to
Eng. Olayan Mohammed Alwetaid, stc Group CEO, stated that the the increase in its international revenues, benefitting from stc’s
company’s results for the 9 month period came in line with our infrastructure investments which led to a growth in the company’s
expectations, as the company was able to grow its top line by Hubbing services. As for the Consumer business unit, revenues
8.2% compared to the same period last year, which was achieved increased for the residential segment, driven by an increase in
through the continuation of the exceptional performance from FTTH and fixed wireless access subscribers by 15% and 27%,
the Enterprise business unit and its ability to grow its revenues, respectively. Alwetaid went on to say that stc aims to establish
as it achieved 27.4% revenue growth during the period, due to its position among the world's leading companies, and to enable

20 OCTOBER 2021