Saudi Telecom Co. — Earnings Release 2013

Feb 20, 2013

Saudi Telecom Company announces the consolidated financial results for the year ending at 31.12.2012.

7010 · 20/02/2013 17:53:18 · Announcement #29067 · View on Saudi Exchange

Saudi Telecom Company announces the consolidated financial results for the year ending at 31.12.2012.

Saudi Telecom Company announces the consolidated financial results for the year ending at 31.12.2012.

1 - The net income for the year amounted to SR 7,276 million compared to SR 7,729 million for the previous year with a decrease of 5.9% after adjusting the compared numbers.

2 - The basic earnings per share for the year amounted to SR 3.64 compared to SR 3.86 for the previous year.

3 - The gross profit for the year amounted to SR 33,589 million compared to SR 31,328 million for the previous year with an increase of 7.2%.

4 - The operating income for the year amounted to SR 11,208 million compared to SR 11,171 million for the previous year with an increase of 0.3%.

5 The decrease in net income for the year compared to last year (despite the 7.2% increase in gross profit), is attributed to two main reasons: First, the group re-evaluation of its investments fair value in Cell C, South Africa and Aircel, India during the fourth quarter, which resulted in recognizing a one-time, non-recurring and non-cash charge of SR 640 million provisions from impairment of intangible assets. Second, due to the change in telecom regulations in India, Binariang had to take a deferred taxes charge related to Aircel operations, STC group share of these deferred taxes was SR 544 million, and this is also a one-time, non-recurring and non-cash charge. With the exception of these two transactions, the net income for the year would have been approximately SR 8,460 million, an increase of 9.5% compared to last year. Cont.

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