Saudi Telecom Co. — Interim / Quarterly Report 2011

Oct 19, 2011

Saudi Telecom Company announces the interim consolidated financial results for the period ending at 30.09.2011 (9 months). Cont. 1

7010 · 19/10/2011 16:00:13 · Announcement #23101 · View on Saudi Exchange

Saudi Telecom Company announces the interim consolidated financial results for the period ending at 30.09.2011 (9 months). Cont. 1

10 - Revenue from services for the 3rd quarter amounted to SR 14,015 million compared to SR 13,232 million for the corresponding quarter last year, with an increase of 6%, and for the 9 months amounted to SR 40,971 million compared to SR 38,343 million for the corresponding period last year with an increase of 7%.

STC Group CEO, Eng. Saud Al-Daweesh, stated that the group revenue growth for the third quarter and nine months, was due to the revenue increase in both local and international operations. Revenue from Subsidiaries & affiliate companies (national & International) constitute 34% of the consolidated revenue. This growth was in line with the Group strategy (LEAD) and its ongoing quest to maintain and improve financial and operational performance, in the long term. Locally, STC is pioneering, for benefit of both the economy and society, the switch to the digital era via the improvement in telecoms and media sector. This has been achieved by the strategic investment in wire & wireless infrastructure such as the next generation network (NGN) and fiber optics, for the Enterprise and Home sectors, together with mobile 4G, long term evolution (LTE), which STC launched via 400 sites, recently. In conjunction with LTE, STC initiated a promotion offering the service free for 3 months. In addition, there has been the enhancement & modernization of 3G+ sites to DC-HSDPA technology, which supports higher speeds and better quality, is currently available in 15 cities. Furthermore, the infrastructure will be unified to provide voice, data services and multimedia for fixed and mobile subscribers, and this will enable the company to develop and deliver more diverse services and applications, at higher speeds, greater efficiency and lower cost to satisfy subscriber needs (Enterprise, large and medium size business, Home and Personal).

Cont.

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