Page 24 - SAMENA Trends - September-October 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

stc Announces the Company’s Preliminary Financial Results for the Period
Ending at 30 September 2022

stc announced the company’s preliminary
financial results for the period ending at
30 September 2022. Revenues for the
3rd quarter reached SAR 16,468m with
an increase of 4.66% as compared to the
comparable quarter last year. For the
9 months period of 2022, the revenues
reached SAR 50,398m with an increase
of 6.48%. Gross Profit for the 3rd quarter
reached to SAR 10,040m with an increase
of 19.97% as compared to the comparable
quarter last year. For the 9 months period of
2022, the Gross Profit reached SAR 28,365m
with an increase of 12.21%. Operating Profit
for the 3rd quarter reached to SAR 4,576m
with an increase of 43.36% as compared to
the comparable quarter last year. For the 9
months period of 2022, the Operating Profit
reached SAR 12,120m with an increase of
22.13%. Earnings before Interest, Taxes,
Zakat, Depreciation and Amortization
(EBITDA) for the 3rd quarter reached to
SAR 7,073m with an increase of 26.17%
as compared to the comparable quarter
last year. For the 9 months period of 2022,
the Earnings before Interest, Taxes, Zakat,
Depreciation and Amortization (EBITDA)
reached SAR 19,577m with an increase
of 14.67%. Net Profit for the 3rd quarter
reached to SAR 3,541m with an increase
of 21.10% as compared to the comparable
quarter last year. For the 9 months period
of 2022, the Net Profit reached SAR 9,413m
with an increase of 8.22%. In accordance
with the dividends distribution policy for
three years period starting from the 4th shall be for the shareholders at the close shareholders. Alwetaid also pointed out
quarter of 2021, which was ratified during of trading on Wednesday 02-11-2022 and that during the third quarter of this year,
the Ordinary General Assembly Meeting on as per the registered shareholders in stc’s stc's general assembly approved the
30-11-2021. In addition to the amendment shareholders registry in the Depository increase of the company’s capital to SAR
on the dividends distribution policy, which Center at the end of the 2nd trading day 50 billion, which considered the largest
was ratified by the Extraordinary General following the eligibility date. Dividend capital increase in the history of the Saudi
Assembly Meeting on 30-8-2022, by distribution date will be on Tuesday 22- stock market, making the company the
distributing an amount of SAR 0.40 per 11-2022. Commenting on these results, second largest listed company in terms
share per quarter, stc will distribute a total Eng. Olayan Mohammed Alwetaid, stc of capital. This increase aims to support
of SAR 1,996.15 million in cash dividend Group CEO, stated that we are proud the group in achieving its strategy that
to the shareholders for the 3rd quarter of the group’s positive financial result, aimed at expansion and growth, along with
2022, representing SAR 0.40 per share which indicates the group commitment maximizing the return for its shareholders,
as the total number of Treasury shares towards its comprehensive strategy and by increasing and diversifying investments
related to the Employees Stock Incentives investments diversification in multiple and seizing the expected growth
Plan stood at 9,629,357 shares at the domains; which had a clear and tangible opportunities in the telecommunications
end of the third quarter 2022 and those impact on profits growth while achieving and information technology sectors in the
shares are not entitled for any dividends a sustainable return for the company’s Kingdom of Saudi Arabia and the region.
distribution. The eligibility of dividends

24 SEPTEMBER-OCTOBER 2022