Saudi Telecom Co. — Interim / Quarterly Report 2011

Apr 19, 2011

Saudi Telecom Company announces the interim consolidated financial results for the first quarter ended March 31, 2011.

7010 · 19/04/2011 19:16:22 · Announcement #21427 · View on Saudi Exchange

Saudi Telecom Company announces the interim consolidated financial results for the first quarter ended March 31, 2011.

Saudi Telecom Company announces the interim consolidated financial results for the first quarter ended March 31, 2011:

1 - The net income during the quarter amounted to SR 1,573 million compared to SR 1,772 million for the corresponding quarter last year, with a decrease of 11%, and compared to SR 2,285 million for the prior quarter, with a decrease of 31%.

2 - The gross profit for the quarter amounted to SR 7,488 compared to SR 7,160 million for the corresponding quarter last year with an increase of 5%.

3 - The operating income for the quarter amounted to SR 2,669 million compared to SR 2,353 million for the corresponding quarter last year with an increase of 13%.

4 The basic earnings per share for the quarter amounted to SR 0.79 compared to SR 0.89 for the corresponding quarter last year.

5 In spite of the double digit increase in operating income for the quarter comparing with the corresponding quarter last year, the net income decrease is attributed to the two-month salary payment to all employees amounted to SR 375 million. This payment was made to all employees to follow the initiative of the Honorable Royal Decree. If we exclude this expanse, the net income would be SR 1,948, which represents an increase of 10% in comparison to the corresponding quarter last year.

6 - Net income before interest, taxes and zakat and depreciation and amortization (EBITDA) for the quarter amounted to SR 4,814 million compared to SR 4,460 million for the corresponding quarter last year with an increase of 8%.

7 - Revenue from services for the quarter amounted to SR 13,076 million compared to SR 12,520 million for the corresponding quarter last year, with an increase of 4%. Revenue growth was mainly driven by international operations, which represents 34% of total revenues, comparing with 31% for the corresponding quarter last year.

Continued

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