- The increase in revenues by SAR 609m, that was offset by the decrease in cost of revenues by SAR 168m, mainly due to the reversal of withholding tax provision amounting to SAR 1,500m in the current quarter as compared to a reversal of a provision for non-recurring item amounting to SAR 641m in the comparable quarter last year, which led to an increase in gross profit by SAR 775m.

- The booking of net profit from discontinued operations amounting to SAR 385m in the current quarter as compared to SAR 191m.

- The decrease in Zakat and income tax expense by SAR 167m.

On the other side:

- Operating expenses increased by SAR 440m, mainly due to the booking of doubtful debt provision amounting to SAR 554m in selling and marketing expenses.

- Total other income decreased by SAR 960m was mainly due to:

1. The decrease in net other gains by SAR 1,143m, mainly as a result of booking a gain from the land sold in Alkhobar city amounting to SAR 1,296m in the comparable quarter last year.

2. The increase in finance cost by SAR 38m.

3. This is despite of:(a) The increase in finance income by SAR 87m. (b) The booking of net other income (expenses) in an amount of SAR 1m as compared to SAR (59m). (c) The booking of net share in results of investments in associates and joint ventures in an amount of SAR 43m as compared to SAR (8m). (d) The decrease in cost of early retirement program by SAR 23m.

- The decrease in cost of revenues by SAR 1,949m, mainly due to the reversal of withholding tax provision in an amount of SAR 1,500m, which led to an increase in gross profit by SAR 1,570m.

- The booking of total other income (expenses) in an amount of SAR 94m as compared to SAR (59m) mainly due to:

1. The booking of net other gains (losses) in an amount of SAR 180m as compared to SAR (2m).

2. The decrease in finance cost by SAR 85m.

3. The decrease in cost of early retirement program by SAR 14m.

4. This is despite of: (a) The decrease in net other income by SAR 80m. (b) The decrease in net share in results of investments in associates and joint ventures by SAR 32m. (c) The decrease in finance income by SAR 15m.

- The booking of net profit from discontinued operations amounting to SAR 385m in the current quarter as compared to SAR 191m.

- The decrease in Zakat and income tax expense by SAR 102m.

On the other side:

- Operating expenses increased by SAR 693m, mainly due to the booking of doubtful debt provision amounting to SAR 554m in selling and marketing expenses.

- The increase in revenues by SAR 2,138m, that was offset by the increase in cost of revenue by SAR 963m, noting that a withholding tax provision amounting to SAR 1,500m has been reversed in the current period as compared to reversal of a provision for non-recurring item amounting to SAR 641m in the comparable period last year, which led to an increase in gross profit by SAR 1,175m.

- The booking of net profit from discontinued operations amounting to SAR 799m in the current period as compared to SAR 594m.

- The decrease in zakat and income tax expense by SAR 349m.

On the other side:

- Operating expenses increased by SAR 349m, mainly due to the booking of doubtful debt provision amounting to SAR 554m in selling and marketing expenses.

- The booking of total other income (expenses) in an amount of SAR (140m) as compared to SAR 967m, mainly due to:

1. The decrease in net other gains by SAR 1,072m, mainly as a result of booking a gain from the land sold in Alkhobar city amounting to SAR 1,296m in the comparable period last year.

2. The increase in finance cost by SAR 244m.

3. The increase in cost of early retirement program by SAR 36m.

4. This is despite of: (a) The increase in finance income by SAR 216m. (b) The increase in net share in results of investments in associates and joint ventures by SAR 15m. (c) The decrease in net other expenses by SAR 14m.

Earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for the 9 months period amounted to SAR 18,356m as compared to SAR 17,541m for the comparable period last year, with an increase of 4.7%, and for the third quarter amounted to SAR 6,786m as compared to SAR 6,389m for the comparable quarter last year, with an increase of 6.2%, and SAR 5,755m for the previous quarter with an increase of 17.9%.

The total number of Treasury shares related to the Employees Stock Incentives Plan stood at 13,084,005 shares at the end of the third quarter 2024 and those shares are not entitled for any dividends distribution. As a result, basic earnings per share (EPS) was calculated based on the weighted average number of ordinary shares in a total of 4,985,738 shares (in thousand) for the 3rd quarter of 2024.

For more information, please refer to the investor relations press release attached to the announcement.

As part of our strategy to develop the investors’ experience, we are pleased to inform you of the launch of stc Investor Relations application for smartphones. This App will provide information that interests the investor regarding stc’s stock performance, dividend distributions, stc’s results and financial statements, and many more features.