Page 19 - SAMENA Trends - January 2020

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

MEMBERS NEWS

stc Group’s Revenue for 12 Months Period of
2019 Increased by 4.64%

In accordance with the approved with the digital revolution and rapid
dividend policy for three years changes in the communication
starting from the 4th quarter and information technology sector.
2018, which was announced on The new identity contributes in
16 December 2018, and has been enhancing stc Group’s brand value
ratified during the Extra Ordinary as one of the most valuable brands
General Assembly Meeting on in the Middle East in 2019, with a
April 24th 2019, stc Group will value of 26.6 billion riyals (USD
distribute a total of SR 2,000 million 7.1 billion), according to the Brand
in cash dividend for Q4 2019, Finance Index. In addition, stc Group
representing SR 1 per share. The has been ranked among the world’s
eligibility of dividends shall be for top 50 digital companies and the
the shareholders registered in the first in the Middle East and North
register of the Securities Depositary Africa in 2019 according to Forbes
Center Company (Edaa) at the end magazine. In recognition of the
of 2nd trading day after the day group’s commitment to continue
of the Annual General Assembly to lead, stc Group has achieved the
Meeting, which will be announced highest average mobile internet
later. Dividend distribution date will download speed in the Kingdom
be announced later. Commenting (reaching to 45.4 megabyte
on the results, Eng. Nasser bin per second) according to the
Sulaiman Al Nasser, stc group government report “Meqias” issued
CEO, stated that the company’s by Communications and Information
strategy to invest in new and Technology Commission (CITC).
diversified domains along with the This achievement is due to the con-
excellent performance from all stc’s tinuous infrastructure investment,
stc Group announced the company’s interim subsidiaries and business unites, which resulted into the deployment
consolidated condensed financial results for the period supported by the increase in the of more than 2300 5G towers during
ending at 31 December 2019: number of mobile and fiber optics 2019. The newly deployed 5G tow-
• Revenues for the 12 months period of 2019 reached customers and data revenue led to ers will have a positive impact on
SR 54,376m with an increase of 4.64% compared to an increase of 4.6% in the company’s internet download speed during the
the corresponding period last year. annual revenue. Also, the cost coming period. On the other hand,
• Gross Profit for the 12 months period of 2019 reached efficiency program initiatives had the company also continue the de-
SR 32,407m with an increase of 6.35% compared to a role in increasing earnings before ployment of fiber optic network in
the corresponding period last year. interest, taxes, zakat, depreciation the Kingdom, which comes as part
• Operating Profit for the 12 months period of 2019 and amortization (EBITDA) by 7.3% of the National Broadband Network
reached SR 12,484m with an increase of 1.95 % for the current year compared to the Initiative (NBB) and in line with its
compared to the corresponding period last year. previous year. In Q4 2019 stc Group commitment towards achieving the
• Earnings before Interest, Taxes, Zakat, Depreciation launched the new unified brand digital initiatives of the Kingdom’s
and Amortization (EBITDA) for the 12 months period identity in KSA, Kuwait, Bahrain and 2030 vision. As a result, the number
of 2019 reached to SR 21,281m with an increase of its subsidiaries. The new brand is in of fiber optic (FTTH) customers in-
7.29% compared to the corresponding period last line with the development witnessed creased by 23% in 2019 compared
year. by the group in the field of digital to the last year, thanks to the vast fi-
• Net Profit for the 12 months period of 2019 reached transformation represented in the ber optics network that has reached
SR 10,755m with a decrease of (0.23%) compared to tracks of digital payments, media, 217,000 Km by the end of 2019.
the corresponding period last year. and entertainment, and in harmony

19 JANUARY 2020