STC posts higher net profit at SAR 9897m in 2013

STC posts higher net profit at SAR 9897m in 2013

31/12/2013 Argaam Exclusive

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Saudi Telecom Co., the second largest company listed in the market after SABIC, reported  SAR 9897m net profit at the end of 2013, compared to SAR 7276m last year, as shown in the following table:



Financials (M)

Item 2012 2013 Change‬
Revenues 44,745.08 45,604.63 1.9 %
Gross Income 25,261.70 27,413.24 8.5 %
Operating Income 9,936.56 12,092.26 21.7 %
Net Income 7,275.96 9,897.07 36.0 %
Average Shares 5,000.00 5,000.00 -
EPS (Riyals) 1.46 1.98 36.0 %


Current Quarter Comparison (M)

Compared With The
Item Q4 2012 Q4 2013 Change‬
Revenues 11,234.77 11,270.43 0.3 %
Gross Income 6,121.14 6,991.64 14.2 %
Operating Income 2,173.79 2,801.88 28.9 %
Net Income 393.44 3,532.57 797.9 %
Average Shares 5,000.00 5,000.00 -
EPS (Riyals) 0.08 0.71 797.9 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2004 7,321.04 9.2 % 5,344.48 9.2 % 2,526.42 12.1 %
Q2 2004 7,564.96 20.0 % 5,502.62 19.8 % 2,654.87 40.4 %
Q3 2004 7,852.77 11.5 % 5,658.47 8.7 % 2,655.09 10.9 %
Q4 2004 7,759.89 7.2 % 5,713.75 9.2 % 2,643.35 (3.9 %)
Q1 2005 7,918.23 8.2 % 6,122.17 14.6 % 3,312.44 31.1 %
Q2 2005 8,038.27 6.3 % 6,208.34 12.8 % 2,922.44 10.1 %
Q3 2005 8,105.10 3.2 % 6,074.94 7.4 % 3,715.69 39.9 %
Q4 2005 8,478.35 9.3 % 6,439.24 12.7 % 3,411.49 29.1 %
Q1 2006 8,515.11 7.5 % 6,383.40 4.3 % 3,340.80 0.9 %
Q2 2006 8,624.77 7.3 % 6,616.48 6.6 % 3,349.24 14.6 %
Q3 2006 8,405.99 3.7 % 6,099.71 0.4 % 3,009.66 (19.0 %)
Q4 2006 8,240.01 (2.8 %) 5,914.92 (8.1 %) 2,448.45 (28.2 %)
Q1 2007 8,320.06 (2.3 %) 6,049.33 (5.2 %) 2,795.36 (16.3 %)
Q2 2007 8,444.00 (2.1 %) 6,405.60 (3.2 %) 3,101.68 (7.4 %)
Q3 2007 8,058.58 (4.1 %) 5,828.60 (4.4 %) 3,203.65 6.4 %
Q4 2007 9,635.17 16.9 % 6,922.61 17.0 % 2,969.64 21.3 %
Q1 2008 9,574.71 15.1 % 7,212.79 19.2 % 3,247.65 16.2 %
Q2 2008 12,030.46 42.5 % 9,094.79 42.0 % 3,683.54 18.8 %
Q3 2008 13,537.76 68.0 % 10,392.71 78.3 % 3,955.84 23.5 %
Q4 2008 12,326.44 27.9 % 9,096.55 31.4 % 4,448.11 49.8 %
Q1 2009 12,142.78 26.8 % 7,912.55 9.7 % 3,836.49 18.1 %
Q2 2009 12,674.12 5.4 % 7,723.03 (15.1 %) 3,228.40 (12.4 %)
Q3 2009 12,934.24 (4.5 %) 7,754.81 (25.4 %) 3,111.64 (21.3 %)
Q4 2009 13,028.94 5.7 % 7,610.31 (16.3 %) 2,637.05 (40.7 %)
Q1 2010 12,519.63 3.1 % 7,159.87 (9.5 %) 2,353.28 (38.7 %)
Q2 2010 12,591.24 (0.7 %) 7,334.89 (5.0 %) 2,344.84 (27.4 %)
Q3 2010 13,232.39 2.3 % 7,884.82 1.7 % 3,254.86 4.6 %
Q4 2010 13,443.57 3.2 % 7,943.03 4.4 % 3,025.33 14.7 %
Q1 2011 13,076.30 4.4 % 7,488.43 4.6 % 2,668.75 13.4 %
Q2 2011 13,879.67 10.2 % 7,951.89 8.4 % 2,782.89 18.7 %
Q3 2011 14,015.11 5.9 % 8,073.04 2.4 % 3,000.18 (7.8 %)
Q4 2011 14,691.00 9.3 % 7,814.90 (1.6 %) 2,719.20 (10.1 %)
Q1 2012 11,067.36 (15.4 %) 6,329.04 (15.5 %) 2,675.36 0.2 %
Q2 2012 11,013.03 (20.7 %) 6,352.24 (20.1 %) 2,617.31 (6.0 %)
Q3 2012 11,429.91 (18.4 %) 6,459.29 (20.0 %) 2,470.09 (17.7 %)
Q4 2012 11,234.77 (23.5 %) 6,121.14 (21.7 %) 2,173.79 (20.1 %)
Q1 2013 11,473.88 3.7 % 6,494.46 2.6 % 2,717.94 1.6 %
Q2 2013 11,433.47 3.8 % 6,733.78 6.0 % 3,195.05 22.1 %
Q3 2013 11,426.85 0.0 % 7,193.36 11.4 % 3,377.39 36.7 %
Q4 2013 11,270.43 0.3 % 6,991.64 14.2 % 2,801.88 28.9 %
2013 45,604.63 1.9 % 27,413.24 8.5 % 12,092.26 21.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2004 2,502.63 10.8 % 0.50 (30.70) 2,533.34 0.51
Q2 2004 2,638.30 39.7 % 0.53 (1.39) 2,639.70 0.53
Q3 2004 2,526.24 5.4 % 0.51 (95.14) 2,621.38 0.52
Q4 2004 1,647.15 (16.8 %) 0.33 (336.55) 1,983.69 0.40
Q1 2005 3,010.95 20.3 % 0.60 50.30 2,960.65 0.59
Q2 2005 2,903.14 10.0 % 0.58 7.26 2,895.88 0.58
Q3 2005 3,261.99 29.1 % 0.65 (415.71) 3,677.70 0.74
Q4 2005 3,270.78 98.6 % 0.65 (364.70) 3,635.48 0.73
Q1 2006 3,414.71 13.4 % 0.68 - 3,414.71 0.68
Q2 2006 3,395.80 17.0 % 0.68 2.00 3,393.80 0.68
Q3 2006 3,202.01 (1.8 %) 0.64 26.37 3,175.64 0.64
Q4 2006 2,786.39 (14.8 %) 0.56 5.84 2,780.54 0.56
Q1 2007 2,719.17 (20.4 %) 0.54 (4.57) 2,723.75 0.54
Q2 2007 3,102.76 (8.6 %) 0.62 (28.55) 3,131.31 0.63
Q3 2007 3,140.03 (1.9 %) 0.63 (3.48) 3,143.51 0.63
Q4 2007 3,059.78 9.8 % 0.61 17.36 3,042.42 0.61
Q1 2008 3,029.27 11.4 % 0.61 3.90 3,025.37 0.61
Q2 2008 3,839.88 23.8 % 0.77 (2.33) 3,842.21 0.77
Q3 2008 3,012.33 (4.1 %) 0.60 (410.57) 3,422.90 0.68
Q4 2008 1,156.37 (62.2 %) 0.23 (10.55) 1,166.92 0.23
Q1 2009 2,487.75 (17.9 %) 0.50 (138.72) 2,626.47 0.53
Q2 2009 2,990.22 (22.1 %) 0.60 21.49 2,968.73 0.59
Q3 2009 2,402.62 (20.2 %) 0.48 (12.27) 2,414.88 0.48
Q4 2009 2,982.78 157.9 % 0.60 703.68 2,279.09 0.46
Q1 2010 1,772.03 (28.8 %) 0.35 (10.07) 1,782.10 0.36
Q2 2010 2,061.99 (31.0 %) 0.41 (21.59) 2,083.58 0.42
Q3 2010 3,316.80 38.0 % 0.66 936.80 2,380.00 0.48
Q4 2010 2,285.51 (23.4 %) 0.46 763.95 1,521.56 0.30
Q1 2011 1,573.12 (11.2 %) 0.31 172.87 1,400.25 0.28
Q2 2011 2,256.37 9.4 % 0.45 (2.55) 2,258.91 0.45
Q3 2011 1,562.48 (52.9 %) 0.31 53.66 1,508.81 0.30
Q4 2011 2,336.69 2.2 % 0.47 427.98 1,908.70 0.38
Q1 2012 2,521.16 60.3 % 0.50 (3.81) 2,524.97 0.50
Q2 2012 2,407.57 6.7 % 0.48 (4.56) 2,412.13 0.48
Q3 2012 1,953.80 25.0 % 0.39 (33.58) 1,987.37 0.40
Q4 2012 393.44 (83.2 %) 0.08 (190.25) 583.68 0.12
Q1 2013 1,549.96 (38.5 %) 0.31 (226.53) 1,776.50 0.36
Q2 2013 1,428.95 (40.6 %) 0.29 (1146.75) 2,575.70 0.52
Q3 2013 3,385.59 73.3 % 0.68 39.29 3,346.30 0.67
Q4 2013 3,532.57 797.9 % 0.71 487.51 3,045.06 0.61
2013 9,897.07 36.0 % 1.98 (846.48) 10,743.55 2.15

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 73.00 % 48.68 % 31.52 %
Q2 2004 72.96 % 49.67 % 32.73 %
Q3 2004 72.51 % 49.74 % 32.60 %
Q4 2004 72.85 % 48.33 % 32.06 %
Q1 2005 73.96 % 49.46 % 32.82 %
Q2 2005 75.08 % 49.56 % 33.14 %
Q3 2005 75.80 % 52.15 % 36.20 %
Q4 2005 76.35 % 52.85 % 40.47 %
Q1 2006 75.76 % 51.89 % 41.11 %
Q2 2006 75.66 % 51.96 % 41.88 %
Q3 2006 75.06 % 49.38 % 40.03 %
Q4 2006 74.04 % 47.31 % 37.78 %
Q1 2007 73.47 % 46.01 % 35.94 %
Q2 2007 73.24 % 45.58 % 35.35 %
Q3 2007 73.19 % 46.72 % 35.63 %
Q4 2007 73.15 % 46.92 % 34.94 %
Q1 2008 73.84 % 47.70 % 34.56 %
Q2 2008 73.94 % 46.06 % 33.22 %
Q3 2008 75.09 % 44.13 % 29.78 %
Q4 2008 75.41 % 45.80 % 24.14 %
Q1 2009 72.94 % 45.51 % 22.10 %
Q2 2009 69.31 % 44.94 % 20.10 %
Q3 2009 64.87 % 44.00 % 18.33 %
Q4 2009 61.05 % 40.59 % 20.26 %
Q1 2010 59.13 % 38.04 % 18.46 %
Q2 2010 58.46 % 36.87 % 16.76 %
Q3 2010 58.38 % 37.29 % 16.59 %
Q4 2010 58.55 % 37.89 % 15.00 %
Q1 2011 58.56 % 38.16 % 14.11 %
Q2 2011 58.30 % 38.33 % 14.10 %
Q3 2011 57.81 % 37.38 % 12.29 %
Q4 2011 56.28 % 35.98 % 12.71 %
Q1 2012 56.23 % 36.23 % 15.29 %
Q2 2012 56.25 % 36.51 % 16.45 %
Q3 2012 55.92 % 36.12 % 18.33 %
Q4 2012 56.46 % 36.37 % 16.78 %
Q1 2013 56.32 % 36.28 % 14.97 %
Q2 2013 56.63 % 37.08 % 15.19 %
Q3 2013 58.25 % 39.08 % 18.18 %
Q4 2013 60.11 % 40.50 % 23.56 %
2013 60.11 % 40.50 % 23.56 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2004 5,000.00 1.75 1.76 5.54
Q2 2004 5,000.00 1.90 1.91 6.07
Q3 2004 5,000.00 1.93 1.95 5.85
Q4 2004 5,000.00 1.86 1.96 6.18
Q1 2005 5,000.00 1.96 2.04 5.94
Q2 2005 5,000.00 2.02 2.09 6.52
Q3 2005 5,000.00 2.16 2.30 6.34
Q4 2005 5,000.00 2.49 2.63 6.57
Q1 2006 5,000.00 2.57 2.72 7.25
Q2 2006 5,000.00 2.67 2.82 6.83
Q3 2006 5,000.00 2.66 2.72 6.87
Q4 2006 5,000.00 2.56 2.55 6.83
Q1 2007 5,000.00 2.42 2.41 6.78
Q2 2007 5,000.00 2.36 2.36 6.90
Q3 2007 5,000.00 2.35 2.36 7.02
Q4 2007 5,000.00 2.40 2.41 7.18
Q1 2008 5,000.00 2.47 2.47 7.31
Q2 2008 5,000.00 2.61 2.61 7.65
Q3 2008 5,000.00 2.59 2.67 7.78
Q4 2008 5,000.00 2.21 2.29 7.53
Q1 2009 5,000.00 2.10 2.21 7.48
Q2 2009 5,000.00 1.93 2.04 7.90
Q3 2009 5,000.00 1.81 1.84 8.13
Q4 2009 5,000.00 2.17 2.06 8.41
Q1 2010 5,000.00 2.03 1.89 8.50
Q2 2010 5,000.00 1.84 1.71 8.45
Q3 2010 5,000.00 2.03 1.70 8.94
Q4 2010 5,000.00 1.89 1.55 9.00
Q1 2011 5,000.00 1.85 1.48 9.05
Q2 2011 5,000.00 1.89 1.51 9.26
Q3 2011 5,000.00 1.54 1.34 9.15
Q4 2011 5,000.00 1.55 1.42 9.38
Q1 2012 5,000.00 1.74 1.64 9.81
Q2 2012 5,000.00 1.77 1.67 10.03
Q3 2012 5,000.00 1.84 1.77 10.34
Q4 2012 5,000.00 1.46 1.50 10.27
Q1 2013 5,000.00 1.26 1.35 10.34
Q2 2013 5,000.00 1.07 1.38 10.39
Q3 2013 5,000.00 1.35 1.66 10.81
Q4 2013 5,000.00 1.98 2.15 11.25

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 16.51 16.45 5.23
Q2 2004 16.93 16.88 5.31
Q3 2004 15.36 15.17 5.06
Q4 2004 20.47 19.50 6.17
Q1 2005 20.97 20.18 6.93
Q2 2005 27.24 26.26 8.42
Q3 2005 25.89 24.33 8.84
Q4 2005 22.37 21.14 8.47
Q1 2006 25.38 23.94 8.99
Q2 2006 17.76 16.78 6.94
Q3 2006 15.09 14.72 5.83
Q4 2006 12.93 12.97 4.85
Q1 2007 10.49 10.52 3.75
Q2 2007 9.86 9.86 3.38
Q3 2007 11.02 10.99 3.69
Q4 2007 13.93 13.91 4.67
Q1 2008 10.01 10.01 3.38
Q2 2008 9.26 9.27 3.16
Q3 2008 9.93 9.64 3.30
Q4 2008 8.90 8.57 2.61
Q1 2009 7.60 7.22 2.13
Q2 2009 10.68 10.11 2.61
Q3 2009 11.12 10.95 2.47
Q4 2009 8.12 8.57 2.10
Q1 2010 9.36 10.06 2.24
Q2 2010 8.18 8.81 1.78
Q3 2010 7.64 9.08 1.73
Q4 2010 9.03 10.97 1.89
Q1 2011 8.34 10.43 1.70
Q2 2011 7.72 9.63 1.57
Q3 2011 8.86 10.17 1.49
Q4 2011 8.75 9.55 1.44
Q1 2012 9.40 9.95 1.66
Q2 2012 8.95 9.46 1.57
Q3 2012 8.61 8.99 1.54
Q4 2012 11.90 11.53 1.69
Q1 2013 12.44 11.60 1.52
Q2 2013 14.98 11.53 1.54
Q3 2013 12.78 10.43 1.60
Q4 2013 10.81 9.96 1.90

Business Segments (Million)

Compared With The
Period GSM Landline DATA Un-allocated
Q1 2009 8,203.41 2,276.02 1,641.09 22.26
Q2 2009 8,078.78 2,660.90 1,889.14 45.31
Q3 2009 8,763.77 2,321.57 1,813.36 35.55
Q4 2009 9,042.06 2,027.64 1,903.96 55.28
Q1 2010 8,370.42 2,321.45 1,754.34 73.42
Q2 2010 8,274.92 2,514.25 1,744.81 57.26
Q3 2010 8,698.56 2,678.44 1,744.34 111.06
Q4 2010 8,815.84 2,641.88 1,897.42 88.43
Q1 2011 8,612.49 2,145.44 2,210.45 107.93
Q2 2011 9,300.53 2,165.08 2,279.18 134.88
Q3 2011 9,535.33 1,968.75 2,358.25 152.78
Q4 2011 10,460.75 2,030.05 2,539.65 (339.46)
Q1 2012 7,231.45 3,163.66 775.96 (103.71)
Q2 2012 5,953.44 2,773.26 2,747.33 (461.00)
Q3 2012 6,321.44 3,061.54 2,038.38 8.55
Q4 2012 6,534.06 3,295.52 1,450.81 (45.62)
Q1 2013 5,912.96 3,401.35 2,121.21 38.36
Q2 2013 6,276.02 3,413.90 1,645.45 98.11
Q3 2013 5,947.77 3,195.58 2,156.72 126.77
Q4 2013 6,048.69 3,174.74 2,296.23 (249.24)

Current
Market Cap (M Riyal) 198,500.00
Enterprise Value (EV) (M) 192,045.01
Shares Outstanding ((M)) 5,000.00
EPS ( Riyal) (TTM) 2.70
Book Value (BV) ( Riyal) 15.86
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 16.39
P/E (TTM) 14.70
Price/book 2.50
Return on Average Assets (%) (TTM) 8.5
Return on Average Equity (%) (TTM) 17.1

Share Price

39.70
(0.15) (0.38 %)

Saudi Telecom Co. (STC)


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