stc reported a net profit after Zakat and tax of SAR 11.31 billion for 2021, a rise of 2.9% from SAR 11 billion in the year-ago period.
The company attributed the profit growth to higher revenue, lower operating expenses as well as lower Zakat and income tax.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 58,953.32 | 63,007.99 | 6.9 % |
| Gross Income | 33,954.40 | 33,794.03 | (0.5 %) |
| Operating Income | 12,731.13 | 13,127.76 | 3.1 % |
| Net Income | 10,994.88 | 11,311.34 | 2.9 % |
| Average Shares | 5,000.00 | 5,000.00 | - |
| EPS (Riyals) | 2.20 | 2.26 | 2.9 % |
The telecom operator reported a net profit of SAR 2.61 billion for the fourth quarter of 2021, a 0.8% year-on-year (YoY) increase.
On a sequential basis, stc reported a 10.6% profit decline in Q4 2021 from SAR 2.92 billion in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 15,216.80 | 15,678.37 | 3.0 % |
| Gross Income | 8,446.57 | 8,515.85 | 0.8 % |
| Operating Income | 3,205.33 | 3,204.15 | 0.0 % |
| Net Income | 2,592.38 | 2,613.65 | 0.8 % |
| Average Shares | 5,000.00 | 5,000.00 | - |
| EPS (Riyals) | 0.52 | 0.52 | 0.8 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 15,735.35 | 15,678.37 | (0.4 %) |
| Gross Income | 8,368.88 | 8,515.85 | 1.8 % |
| Operating Income | 3,191.71 | 3,204.15 | 0.4 % |
| Net Income | 2,924.39 | 2,613.65 | (10.6 %) |
| Average Shares | 5,000.00 | 5,000.00 | - |
| EPS (Riyals) | 0.58 | 0.52 | (10.6 %) |
Total shareholders’ equity, after minority interest, rose 8.3% to SAR 69.27 billion as of Dec. 31, 2021, from SAR 63.95 billion a year earlier.
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