Financial Results : STC’s net profit down 14% in 9M 2016

STC’s net profit down 14% in 9M 2016

19/10/2016 Argaam Exclusive

View other reports

 

Saudi Telecom Company (STC) reported a net profit of SAR 6.4 billion for the first nine months of 2016, a 14 percent decline year-on-year attributed to higher cost of services, higher operating expenses, lower net other income, and losses from investments accounted for under equity method, the company said.



Financials (M)

Item 9m 2015 9m 2016 Change‬
Revenues 37,590.34 40,667.39 8.2 %
Gross Income 22,332.17 21,664.30 (3.0 %)
Operating Income 9,381.24 8,122.55 (13.4 %)
Net Income 7,384.06 6,815.70 (7.7 %)
Average Shares 5,000.00 5,000.00 -
Earnings Per Share before unusual items (Riyals) 1.51 1.39 (8.5 %)
EPS (Riyal) 1.48 1.36 (7.7 %)

The company reported a net profit of SAR 2.15 billion in Q3, a year-on-year drop of 8 percent. When compared to the previous quarter (Q2-2016), the company’s net profit rose 15.2 percent.

Q3 was marked by higher expenses, losses from investments, and a SAR 37 million increase in the provision for zakat and tax compared to the same quarter last year. 



Current Quarter Comparison (M)

Compared With The
Item Q3 2015 Q3 2016 Change‬
Revenues 12,894.71 14,025.79 8.8 %
Gross Income 7,624.10 7,117.39 (6.6 %)
Operating Income 3,038.06 2,402.82 (20.9 %)
Net Income 2,322.15 2,216.94 (4.5 %)
Average Shares 5,000.00 5,000.00 -
Earnings Per Share before unusual items (Riyal) 0.48 0.45 (6.3 %)
EPS (Riyal) 0.46 0.44 (4.5 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2007 8,320.06 (2.3 %) 6,049.33 (5.2 %) 2,795.36 (16.3 %)
Q2 2007 8,444.00 (2.1 %) 6,405.60 (3.2 %) 3,101.68 (7.4 %)
Q3 2007 8,058.58 (4.1 %) 5,828.60 (4.4 %) 3,203.65 6.4 %
Q4 2007 9,635.17 16.9 % 6,922.61 17.0 % 2,969.64 21.3 %
Q1 2008 9,574.71 15.1 % 7,212.79 19.2 % 3,247.65 16.2 %
Q2 2008 12,030.46 42.5 % 9,094.79 42.0 % 3,683.54 18.8 %
Q3 2008 13,537.76 68.0 % 10,392.71 78.3 % 3,955.84 23.5 %
Q4 2008 12,326.44 27.9 % 9,096.55 31.4 % 4,448.11 49.8 %
Q1 2009 12,142.78 26.8 % 7,912.55 9.7 % 3,836.49 18.1 %
Q2 2009 12,674.12 5.4 % 7,723.03 (15.1 %) 3,228.40 (12.4 %)
Q3 2009 12,934.24 (4.5 %) 7,754.81 (25.4 %) 3,111.64 (21.3 %)
Q4 2009 13,028.94 5.7 % 7,610.31 (16.3 %) 2,637.05 (40.7 %)
Q1 2010 12,519.63 3.1 % 7,159.87 (9.5 %) 2,353.28 (38.7 %)
Q2 2010 12,591.24 (0.7 %) 7,334.89 (5.0 %) 2,344.84 (27.4 %)
Q3 2010 13,232.39 2.3 % 7,884.82 1.7 % 3,254.86 4.6 %
Q4 2010 13,443.57 3.2 % 7,943.03 4.4 % 3,025.33 14.7 %
Q1 2011 13,076.30 4.4 % 7,488.43 4.6 % 2,668.75 13.4 %
Q2 2011 13,879.67 10.2 % 7,951.89 8.4 % 2,782.89 18.7 %
Q3 2011 14,015.11 5.9 % 8,073.04 2.4 % 3,000.18 (7.8 %)
Q4 2011 14,691.00 9.3 % 7,814.90 (1.6 %) 2,719.20 (10.1 %)
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 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2007 2,719.17 (20.4 %) 0.54 (4.57) 2,723.75 0.54
Q2 2007 3,102.76 (8.6 %) 0.62 (28.55) 3,131.31 0.63
Q3 2007 3,140.03 (1.9 %) 0.63 (3.48) 3,143.51 0.63
Q4 2007 3,059.78 9.8 % 0.61 17.36 3,042.42 0.61
Q1 2008 3,029.27 11.4 % 0.61 3.90 3,025.37 0.61
Q2 2008 3,839.88 23.8 % 0.77 (2.33) 3,842.21 0.77
Q3 2008 3,012.33 (4.1 %) 0.60 (410.57) 3,422.90 0.68
Q4 2008 1,156.37 (62.2 %) 0.23 (10.55) 1,166.92 0.23
Q1 2009 2,487.75 (17.9 %) 0.50 (138.72) 2,626.47 0.53
Q2 2009 2,990.22 (22.1 %) 0.60 21.49 2,968.73 0.59
Q3 2009 2,402.62 (20.2 %) 0.48 (12.27) 2,414.88 0.48
Q4 2009 2,982.78 157.9 % 0.60 703.68 2,279.09 0.46
Q1 2010 1,772.03 (28.8 %) 0.35 (10.07) 1,782.10 0.36
Q2 2010 2,061.99 (31.0 %) 0.41 (21.59) 2,083.58 0.42
Q3 2010 3,316.80 38.0 % 0.66 936.80 2,380.00 0.48
Q4 2010 2,285.51 (23.4 %) 0.46 763.95 1,521.56 0.30
Q1 2011 1,573.12 (11.2 %) 0.31 172.87 1,400.25 0.28
Q2 2011 2,256.37 9.4 % 0.45 (2.55) 2,258.91 0.45
Q3 2011 1,562.48 (52.9 %) 0.31 53.66 1,508.81 0.30
Q4 2011 2,336.69 2.2 % 0.47 427.98 1,908.70 0.38
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

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2007 73.47 % 46.01 % 35.94 %
Q2 2007 73.24 % 45.58 % 35.35 %
Q3 2007 73.19 % 46.72 % 35.63 %
Q4 2007 73.15 % 46.92 % 34.94 %
Q1 2008 73.84 % 47.70 % 34.56 %
Q2 2008 73.94 % 46.06 % 33.22 %
Q3 2008 75.09 % 44.13 % 29.78 %
Q4 2008 75.41 % 45.80 % 24.14 %
Q1 2009 72.94 % 45.51 % 22.10 %
Q2 2009 69.31 % 44.94 % 20.10 %
Q3 2009 64.87 % 44.00 % 18.33 %
Q4 2009 61.05 % 40.59 % 20.26 %
Q1 2010 59.13 % 38.04 % 18.46 %
Q2 2010 58.46 % 36.87 % 16.76 %
Q3 2010 58.38 % 37.29 % 16.59 %
Q4 2010 58.55 % 37.89 % 15.00 %
Q1 2011 58.56 % 38.16 % 14.11 %
Q2 2011 58.30 % 38.33 % 14.10 %
Q3 2011 57.81 % 37.38 % 12.29 %
Q4 2011 56.28 % 35.98 % 12.71 %
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 %
2015 59.91 % 38.09 % 18.46 %
Q1 2016 57.91 % 36.88 % 18.13 %
Q2 2016 57.18 % 36.19 % 16.93 %
Q3 2016 55.04 % 34.38 % 16.29 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2007 5,000.00 2.42 2.41 6.78
Q2 2007 5,000.00 2.36 2.36 6.90
Q3 2007 5,000.00 2.35 2.36 7.02
Q4 2007 5,000.00 2.40 2.41 7.18
Q1 2008 5,000.00 2.47 2.47 7.31
Q2 2008 5,000.00 2.61 2.61 7.65
Q3 2008 5,000.00 2.59 2.67 7.78
Q4 2008 5,000.00 2.21 2.29 7.53
Q1 2009 5,000.00 2.10 2.21 7.48
Q2 2009 5,000.00 1.93 2.04 7.90
Q3 2009 5,000.00 1.81 1.84 8.13
Q4 2009 5,000.00 2.17 2.06 8.41
Q1 2010 5,000.00 2.03 1.89 8.50
Q2 2010 5,000.00 1.84 1.71 8.45
Q3 2010 5,000.00 2.03 1.70 8.94
Q4 2010 5,000.00 1.89 1.55 9.00
Q1 2011 5,000.00 1.85 1.48 9.05
Q2 2011 5,000.00 1.89 1.51 9.26
Q3 2011 5,000.00 1.54 1.34 9.15
Q4 2011 5,000.00 1.55 1.42 9.38
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

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2007 10.49 10.52 3.75
Q2 2007 9.86 9.86 3.38
Q3 2007 11.02 10.99 3.69
Q4 2007 13.93 13.91 4.67
Q1 2008 10.01 10.01 3.38
Q2 2008 9.26 9.27 3.16
Q3 2008 9.93 9.64 3.30
Q4 2008 8.90 8.57 2.61
Q1 2009 7.60 7.22 2.13
Q2 2009 10.68 10.11 2.61
Q3 2009 11.12 10.95 2.47
Q4 2009 8.12 8.57 2.10
Q1 2010 9.36 10.06 2.24
Q2 2010 8.18 8.81 1.78
Q3 2010 7.64 9.08 1.73
Q4 2010 9.03 10.97 1.89
Q1 2011 8.34 10.43 1.70
Q2 2011 7.72 9.63 1.57
Q3 2011 8.86 10.17 1.49
Q4 2011 8.75 9.55 1.44
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

Business Segments (Million)

Compared With The
Period STC (Saudi arabia) STC channels Company Other operating segments Consolidation adjustments & eliminations
Q1 2009 - - 12,142.78 -
Q2 2009 - - 12,674.13 -
Q3 2009 - - 12,934.24 -
Q4 2009 - - 13,028.93 -
Q1 2010 - - 12,519.63 -
Q2 2010 - - 12,591.23 -
Q3 2010 - - 13,232.40 -
Q4 2010 - - 13,443.57 -
Q1 2011 - - 13,076.31 -
Q2 2011 - - 13,879.66 -
Q3 2011 - - 14,015.12 -
Q4 2011 - - 14,690.99 -
Q1 2012 - - 11,067.36 -
Q2 2012 - - 11,013.03 -
Q3 2012 - - 11,429.92 -
Q4 2012 - - 11,234.77 -
Q1 2013 - - 11,473.88 -
Q2 2013 - - 11,433.48 -
Q3 2013 - - 11,426.84 -
Q4 2013 - - 11,270.43 -
Q1 2014 - - 10,782.89 -
Q2 2014 - - 11,722.01 -
Q3 2014 - - 11,754.60 -
Q4 2014 - - 11,566.14 -
Q1 2015 - - 12,473.48 -
Q2 2015 - - 12,222.15 -
Q3 2015 - - 12,894.71 -
Q4 2015 - - 13,060.27 -
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)

Analysts Estimates (Million)

Item Profit (Expected) Profit (Actual) Change Profit Before Unusual Items Change
Average 2,066.29 2,216.94 2,257.72

Estimates vs Actual (Million)

Item Profit (Expected) Profit (Actual) Change‬ Profit Before Unusual Items Change‬
Sico 2,219.00 2,216.94 2,257.72
Value Capital 2,224.40 2,216.94 2,257.72
Albilad Capital 2,178.00 2,216.94 2,257.72
Alistithmar for Financial Securities and Brokerage 2,158.20 2,216.94 2,257.72
Al Rajhi Capital 2,280.00 2,216.94 2,257.72
AlJazira Capital 2,153.00 2,216.94 2,257.72
OSOOL AND BAKHEET 1,948.30 2,216.94 2,257.72
Riyad Capital 1,893.00 2,216.94 2,257.72
SFC 1,852.00 2,216.94 2,257.72
SNB Capital 1,757.00 2,216.94 2,257.72


Financial Ratios
Current
Market Cap (M Riyal) 223,200.23
Enterprise Value (EV) (M Riyal) 225,545.55
Shares Outstanding ((M)) 5,000.00
EPS ( Riyal) (TTM) 5.11
Book Value (BV) ( Riyal) 16.54
Par Value ( Riyal) 10.00
Recurring P/E 17.54
P/E (TTM) 8.73
Price/book 2.70
Return on Average Assets (%) (TTM) 16.4
Return on Average Equity (%) (TTM) 32.1
EV/adj EBITDA 9.43
EV/Revenues 2.95
more

Share Price

Saudi Telecom Co.
44.64
0.64 1.45 %

Saudi Telecom Co. (STC)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.