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Mobile Telecommunication Company Saudi Arabia (Zain KSA) announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 10,365 | 9,883 | 4.88 | ||
| Gross Profit (Loss) | 6,471 | 5,857 | 10.48 | ||
| Operational Profit (Loss) | 1,199 | 871 | 37.66 | ||
| Net profit (Loss) | 596 | 1,267 | -52.96 | ||
| Total Comprehensive Income | 565 | 1,239 | -54.4 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 10,707 | 10,591 | 1.09 | ||
| Profit (Loss) per Share | 0.66 | 1.41 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Zain KSA achieved the highest revenues in its history reaching SAR 10.4 billion in 2024, a 5% growth compared to 2023 (SAR 9.9 billion).This increase in revenue is driven by the growth in 5G, Wholesale, TAMAM and B2B segments. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Zain KSA achieved net profit of SAR 596 million for the year end 2024 vs SAR 1,267 million in 2023 (including gain from the sale and leaseback transaction of all 8069 towers fully recognized during 2023 for a total amount of SAR 1.1 billion). Gross profit increased by SAR 614 million (10.5%), reaching SAR 6.5 billion. Operating expenses increased by SAR 66 million (2.5%) and ECL expenses increased by SAR 203 million. Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) increased in 2024 by SAR 345 million (11.6%) reaching SAR 3.323 billion in 2024 as compared to 2023 (SAR 2.978 billion). Zakat has decreased by 131 million considering the new regulations, where Zain KSA has reassessed its zakat provision and consequently has reversed additional provision charged in prior periods during the year ended 31 December 2024 for an amount of SAR 76 million. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | During the year ending 31 December 2024, the Group reclassified certain balances, which are considered by management a more accurate presentation and reflect the related nature. These reclassifications have no impact on previously reported net income, retained earnings or cash positions. |
| Additional Information | Total CAPEX investment for 2024 amounted to SAR 1.5 billion to further enhance the customer’s experience and the quality of the services. Zain KSA has fulfilled all its financials debt obligations for 2024 amounting SAR 1.8 billion. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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