Sultan Al Deghaither, CEO of Zain KSA
Mobile Telecommunication Company Saudi Arabia’s (Zain KSA) Q2 2022 financials reflect the telco’s continuous growth at the financial and operational levels, said CEO Sultan Al Deghaither.
He pointed to the growth in demand for Zain KSA’s 5G products and services, in addition to the remarkable demand from government agencies, institutions and companies in the Kingdom for the portfolio of business sector products and support services.
The telecom operator posted a net profit of SAR 134 million for Q2 2022, more than three times higher than the same period a year earlier. The second-quarter net profit leapt 65% quarter-on-quarter.
Q2 2022 results indicate that the telco continued its positive operational and financial performance, as revenues grew by 16% year-on-year to SAR 2.206 billion in the three-month period.
These results came in line with the significant expansion in Zain KSA’s portfolio of digital solutions and products, to offer the most innovative services for client experience and affirm the company’s goal to be the partner of choice for individual, enterprise and government sector clients, particularly on the 5G and cloud services applications in artificial intelligence (AI) and virtual reality and internet of things (IoT).
Through global strategic partnerships, the telecom operator transferred the 5G experience in the Kingdom to a new level. Zain KSA also aimed to complement its partnerships by providing the digital infrastructure that helps attain the best results.
Zain KSA worked on linking the Middle East to the world through the Jeddah to Marseille (J2M) submarine cable system that connects Jeddah, Saudi Arabia to Marseille, France. The J2M will be a subsystem of the PEACE cable system, to strengthen the telco’s capabilities at the level of cross-border infrastructure, Al Deghaither noted.
He concluded that Zain KSA will provide a new subsystem to the carriers and international companies operating in the Kingdom, as well as meet their communication requirements as per the best standards.
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