Saudi Telecom Co. — Interim / Quarterly Report 2011

Jan 18, 2012

Saudi Telecom Company announces the interim consolidated financial results for the year ending at 31.12.2011 (12 months). Cont.-1

7010 · 18/01/2012 18:11:34 · Announcement #23775 · View on Saudi Exchange

Saudi Telecom Company announces the interim consolidated financial results for the year ending at 31.12.2011 (12 months). Cont.-1

8 There is no material difference in comparing 4th quarter net income with the corresponding period last year. While, the decrease in net income for the 12 months (In spite of the 3% increase in operating income) comparing with the corresponding period last year, is attributed to foreign currency exchange fluctuations losses amounting to approximately SR 1,105 million which was recorded in the consolidated Financial statement for the year. Also, there was an amount of SR 728 million recorded in the 3rd quarter of last year 2010 which represents gains from the sale of fixed assets (Towers) to AIRCEL in India. Cont.

9 - Earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for the 4th quarter amounted to SR 5,021 million compared to SR 5,239 million for the corresponding quarter last year with a decrease of 4%, and for the 12 months amounted to SR 20,119 million compared to SR 19,620 million for the corresponding period last year with an increase of 3%.

10 - Revenue from services for the 4th quarter amounted to SR 15,249 million compared to SR 13,444 million for the corresponding quarter last year, with an increase of 13%, and for the 12 months amounted to SR 56,220 million compared to SR 51,787 million for the corresponding period last year with an increase of 9%.

11 The financial numbers for Q4, 2011 and for the 12 months were compared with the audited consolidated financial statements for 2010G.

Commenting on the results, STC Group CEO, Eng. Saud Al-Daweesh, said: "STC continues to strengthen its leading position as one of the regions largest telecommunications service providers by offering integrated fixed and mobile innovative services for both individuals and businesses. This comes as the company continues to achieve a distinct and sustainable financial and operational performance. The latest acquisitions recently concluded by the group would undoubtedly enhance the investors confidence in conjunction with the latest growth levels reported locally and internationally and come in line with the groups distinctive strategy LEAD. Eng. Al Daweesh added: "It has been an honor for us at STC to provide pilgrims with effective and high quality services that surpass international standards supported by our advanced infrastructure that the company continuously upgrades." Cont.

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