Zain Saudi H1 2020 net profit drops 37% to SAR 164 mln

14/07/2020 Argaam Exclusive

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Mobile Telecommunication Company Saudi Arabia (Zain Saudi) posted a net profit after Zakat and tax of SAR 164 million for the first half of 2020, a 37% decline year-on-year (YoY), compared to SAR 260 million in the same period a year earlier.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	4,150.25	3,928.08	(5.4 %)
Gross Income	3,004.11	2,828.12	(5.9 %)
Operating Income	877.83	653.38	(25.6 %)
Net Income	259.51	163.83	(36.9 %)
Average Shares	573.22	573.22	-
EPS (Riyals)	0.45	0.29	(36.9 %)

The drop in profit is attributed to a decrease in revenue by SAR 222 million, which was partially compensated by lower cost of revenue by SAR 46 million and operational expenditure (opex) of SAR 120 million.

Depreciation and amortization increased by SAR 43 million while financing charges decreased by SAR 19 million.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	2,056.76	1,889.22	(8.1 %)
Gross Income	1,523.73	1,354.69	(11.1 %)
Operating Income	446.05	296.67	(33.5 %)
Net Income	130.20	58.61	(55.0 %)
Average Shares	573.22	573.22	-
EPS (Riyals)	0.23	0.10	(55.0 %)

Item	Q1 2020	Q2 2020	Change‬
Revenues	2,038.87	1,889.22	(7.3 %)
Gross Income	1,473.43	1,354.69	(8.1 %)
Operating Income	356.71	296.67	(16.8 %)
Net Income	105.22	58.61	(44.3 %)
Average Shares	573.22	573.22	-
EPS (Riyals)	0.18	0.10	(44.3 %)

The second-quarter net profit after Zakat and tax stood at SAR 59 million, a 55% drop YoY, compared to SAR 130 million in the same period last year, due to lower revenue by SAR 168 million.

The telecom operator cited that the estimated impact from COVID-19 outbreak on Q2 potential revenue is SAR 186 million, mainly from the drop in prepaid, postpaid, devices, and visitor packages and the halt of the Umrah season.

This was partially absorbed by a SAR 125 million decrease in opex as a result of better cost management to limit the impact of the pandemic.

Meanwhile, depreciation and amortization increased by SAR 34 million as a result of the capital expenditure (capex) investment, and the release of certain provision increased by SAR 35 million.

Finance cost decreased by SAR 14 million due to the drop in SAIBOR and Libor and as well to better cash management.

On a quarterly basis, net profit declined 43.8%, on lower revenue by SAR 150 million, offset by decrease in cost of revenue and opex.

The accumulated deficit decreased to reach SAR 1.44 billion in H1 2020, representing 24.7% of the company’s share capital of SAR 5.83 billion backed by the net profit in the second quarter.

During Q2 2020, the telecom provider made an early voluntary payment for financing agreements, amounting to SAR 1.1 billion, bringing the total payments within 21 months to SAR 2.5 billion.

Total capex investment for H1 2020 reached SAR 1.85 million, out of which SAR 607 million is related to the acquisition of new spectrum in addition to the rollout capitalization of the 5G investment.

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2011	1,484.22	35.6 %	716.02	86.3 %	(233.11)	46.4 %
Q2 2011	1,704.65	17.5 %	923.22	51.8 %	(143.80)	54.3 %
Q3 2011	1,794.81	8.0 %	870.12	22.2 %	(221.60)	5.8 %
Q4 2011	1,715.39	(0.7 %)	690.82	(16.4 %)	(212.97)	(19.2 %)
2011	6,699.06	12.9 %	3,200.17	26.5 %	(811.48)	30.3 %
Q1 2012	1,521.59	2.5 %	702.20	(1.9 %)	(191.20)	18.0 %
Q2 2012	1,629.02	(4.4 %)	707.12	(23.4 %)	(174.00)	(21.0 %)
Q3 2012	1,529.90	(14.8 %)	711.62	(18.2 %)	(304.79)	(37.5 %)
Q4 2012	1,490.16	(13.1 %)	738.98	7.0 %	(261.61)	(22.8 %)
2012	6,170.67	(7.9 %)	2,859.92	(10.6 %)	(931.60)	(14.8 %)
Q1 2013	1,719.40	13.0 %	776.23	10.5 %	(232.94)	(21.8 %)
Q2 2013	1,706.35	4.7 %	830.76	17.5 %	(206.12)	(18.5 %)
Q3 2013	1,573.32	2.8 %	760.98	6.9 %	(239.00)	21.6 %
Q4 2013	1,523.52	2.2 %	766.88	3.8 %	(271.26)	(3.7 %)
2013	6,522.59	5.7 %	3,134.86	9.6 %	(949.32)	(1.9 %)
Q1 2014	1,545.77	(10.1 %)	798.66	2.9 %	(127.18)	45.4 %
Q2 2014	1,567.13	(8.2 %)	797.05	(4.1 %)	(135.83)	34.1 %
Q3 2014	1,553.00	(1.3 %)	810.67	6.5 %	(218.60)	8.5 %
Q4 2014	1,556.46	2.2 %	816.27	6.4 %	(187.47)	30.9 %
2014	6,170.27	(5.4 %)	3,222.65	2.8 %	(669.09)	29.5 %
Q1 2015	1,656.79	7.2 %	874.43	9.5 %	(59.05)	53.6 %
Q2 2015	1,648.83	5.2 %	949.40	19.1 %	0.94	100.7 %
Q3 2015	1,763.73	13.6 %	1,062.18	31.0 %	(0.89)	99.6 %
Q4 2015	1,672.03	7.4 %	1,065.09	30.5 %	(82.42)	56.0 %
2015	6,741.38	9.3 %	3,951.10	22.6 %	(141.42)	78.9 %
Q1 2016	1,764.88	6.5 %	1,085.55	24.1 %	(32.03)	45.8 %
Q2 2016	1,727.40	4.8 %	1,112.80	17.2 %	(108.29)	(11620.3 %)
Q3 2016	1,633.76	(7.4 %)	1,060.63	(0.1 %)	(1.97)	(120.0 %)
Q4 2016	1,800.61	7.7 %	1,141.69	7.2 %	87.85	206.6 %
2016	6,926.65	2.7 %	4,400.67	11.4 %	(54.43)	61.5 %
Q1 2017	1,919.05	8.7 %	1,290.99	18.9 %	272.70	951.5 %
Q2 2017	1,864.57	7.9 %	1,258.55	13.1 %	235.01	317.0 %
Q3 2017	1,806.56	10.6 %	1,230.87	16.1 %	228.95	11739.3 %
Q4 2017	1,715.65	(4.7 %)	1,132.61	(0.8 %)	166.58	89.6 %
2017	7,305.82	5.5 %	4,913.02	11.6 %	903.24	1759.4 %
Q1 2018	1,685.97	(12.1 %)	1,117.37	(13.4 %)	180.33	(33.9 %)
Q2 2018	1,846.43	(1.0 %)	1,161.96	(7.7 %)	211.14	(10.2 %)
Q3 2018	1,951.88	8.0 %	1,320.57	7.3 %	307.34	34.2 %
Q4 2018	2,046.24	19.3 %	1,824.66	61.1 %	674.60	305.0 %
2018	7,530.53	3.1 %	5,424.56	10.4 %	1,373.41	52.1 %
Q1 2019	2,093.49	24.2 %	1,480.38	32.5 %	431.78	139.4 %
Q2 2019	2,056.76	11.4 %	1,523.73	31.1 %	446.05	111.3 %
Q3 2019	2,008.08	2.9 %	1,495.03	13.2 %	450.21	46.5 %
Q4 2019	2,227.90	8.9 %	1,469.37	(19.5 %)	430.27	(36.2 %)
2019	8,386.23	11.4 %	5,968.51	10.0 %	1,758.30	28.0 %
Q1 2020	2,038.87	(2.6 %)	1,473.43	(0.5 %)	356.71	(17.4 %)
Q2 2020	1,889.22	(8.1 %)	1,354.69	(11.1 %)	296.67	(33.5 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2010	5,934.37	97.5 %	2,530.45	188.5 %	(1163.58)	52.8 %
2011	6,699.06	12.9 %	3,200.17	26.5 %	(811.48)	30.3 %
2012	6,170.67	(7.9 %)	2,859.92	(10.6 %)	(931.60)	(14.8 %)
2013	6,522.59	5.7 %	3,134.86	9.6 %	(949.32)	(1.9 %)
2014	6,170.27	(5.4 %)	3,222.65	2.8 %	(669.09)	29.5 %
2015	6,741.38	9.3 %	3,951.10	22.6 %	(141.42)	78.9 %
2016	6,926.65	2.7 %	4,400.67	11.4 %	(54.43)	61.5 %
2017	7,305.82	5.5 %	4,913.02	11.6 %	903.24	1759.4 %
2018	7,530.53	3.1 %	5,424.56	10.4 %	1,373.41	52.1 %
2019	8,386.23	11.4 %	5,968.51	10.0 %	1,758.30	28.0 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2011	(531.75)	19.7 %	(2.41)	-	(531.75)	(2.41)
Q2 2011	(448.18)	29.0 %	(2.03)	-	(448.18)	(2.03)
Q3 2011	(483.81)	11.0 %	(2.20)	-	(483.81)	(2.20)
Q4 2011	(461.46)	11.4 %	(2.09)	-	(461.46)	(2.09)
2011	(1925.20)	18.4 %	(8.74)	-	(1925.20)	(8.74)
Q1 2012	(419.99)	21.0 %	(1.91)	-	(419.99)	(1.91)
Q2 2012	(393.64)	12.2 %	(1.79)	-	(393.64)	(1.79)
Q3 2012	(493.00)	(1.9 %)	(0.86)	-	(493.00)	(0.86)
Q4 2012	(442.78)	4.0 %	(0.77)	-	(442.78)	(0.77)
2012	(1749.40)	9.1 %	(3.05)	-	(1749.40)	(3.05)
Q1 2013	(397.95)	5.2 %	(0.69)	-	(397.95)	(0.69)
Q2 2013	(370.41)	5.9 %	(0.65)	-	(370.41)	(0.65)
Q3 2013	(420.81)	14.6 %	(0.73)	-	(420.81)	(0.73)
Q4 2013	(462.30)	(4.4 %)	(0.81)	-	(462.30)	(0.81)
2013	(1651.47)	5.6 %	(2.88)	-	(1651.47)	(2.88)
Q1 2014	(318.36)	20.0 %	(0.56)	-	(318.36)	(0.56)
Q2 2014	(328.94)	11.2 %	(0.57)	-	(328.94)	(0.57)
Q3 2014	(315.81)	25.0 %	(0.55)	85.00	(400.81)	(0.70)
Q4 2014	(306.46)	33.7 %	(0.53)	50.47	(356.92)	(0.62)
2014	(1269.57)	23.1 %	(2.21)	135.47	(1405.03)	(2.45)
Q1 2015	(256.72)	19.4 %	(0.45)	-	(256.72)	(0.45)
Q2 2015	(201.16)	38.8 %	(0.35)	-	(201.16)	(0.35)
Q3 2015	(222.95)	29.4 %	(0.39)	-	(222.95)	(0.39)
Q4 2015	(291.11)	5.0 %	(0.51)	-	(291.11)	(0.51)
2015	(971.95)	23.4 %	(1.70)	-	(971.95)	(1.70)
Q1 2016	(250.00)	2.6 %	(0.44)	-	(250.00)	(0.44)
Q2 2016	(328.30)	(63.2 %)	(0.57)	-	(328.30)	(0.57)
Q3 2016	(266.11)	(19.4 %)	(0.46)	-	(266.11)	(0.46)
Q4 2016	(134.13)	53.9 %	(0.23)	-	(134.13)	(0.23)
2016	(978.54)	(0.7 %)	(1.71)	-	(978.54)	(1.71)
Q1 2017	45.47	118.2 %	0.08	-	45.47	0.08
Q2 2017	7.69	102.3 %	0.01	-	7.69	0.01
Q3 2017	3.41	101.3 %	0.01	-	3.41	0.01
Q4 2017	(45.02)	66.4 %	(0.08)	-	(45.02)	(0.08)
2017	11.54	101.2 %	0.02	-	11.54	0.02
Q1 2018	(77.33)	(270.1 %)	(0.13)	-	(77.33)	(0.13)
Q2 2018	(37.57)	(588.4 %)	(0.07)	-	(37.57)	(0.07)
Q3 2018	48.01	1309.8 %	0.08	-	48.01	0.08
Q4 2018	399.26	986.8 %	0.70	-	399.26	0.70
2018	332.36	2780.3 %	0.58	-	332.36	0.58
Q1 2019	129.31	267.2 %	0.23	-	129.31	0.23
Q2 2019	130.20	446.5 %	0.23	-	130.20	0.23
Q3 2019	120.71	151.5 %	0.21	-	120.71	0.21
Q4 2019	104.96	(73.7 %)	0.18	-	104.96	0.18
2019	485.18	46.0 %	0.85	-	485.18	0.85
Q1 2020	105.22	(18.6 %)	0.18	-	105.22	0.18
Q2 2020	58.61	(55.0 %)	0.10	-	58.61	0.10

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2010	(2358.44)	23.9 %	(10.71)	-	(2358.44)	(10.71)
2011	(1925.20)	18.4 %	(8.74)	-	(1925.20)	(8.74)
2012	(1749.40)	9.1 %	(3.05)	-	(1749.40)	(3.05)
2013	(1651.47)	5.6 %	(2.88)	-	(1651.47)	(2.88)
2014	(1269.57)	23.1 %	(2.21)	135.47	(1405.03)	(2.45)
2015	(971.95)	23.4 %	(1.70)	-	(971.95)	(1.70)
2016	(978.54)	(0.7 %)	(1.71)	-	(978.54)	(1.71)
2017	11.54	101.2 %	0.02	-	11.54	0.02
2018	332.36	2780.3 %	0.58	-	332.36	0.58
2019	485.18	46.0 %	0.85	-	485.18	0.85

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2011	45.26 %	8.77 %	(35.22 %)
Q2 2011	48.30 %	11.75 %	(31.08 %)
Q3 2011	49.70 %	12.64 %	(29.57 %)
Q4 2011	47.77 %	13.42 %	(28.74 %)
2011	47.77 %	13.42 %	(28.74 %)
Q1 2012	47.30 %	14.66 %	(26.92 %)
Q2 2012	44.59 %	14.89 %	(26.41 %)
Q3 2012	43.96 %	14.62 %	(27.64 %)
Q4 2012	46.35 %	14.24 %	(28.35 %)
2012	46.35 %	14.24 %	(28.35 %)
Q1 2013	46.07 %	13.24 %	(27.12 %)
Q2 2013	47.44 %	12.73 %	(26.44 %)
Q3 2013	47.88 %	13.68 %	(25.15 %)
Q4 2013	48.06 %	13.65 %	(25.32 %)
2013	48.06 %	13.65 %	(25.32 %)
Q1 2014	49.73 %	15.48 %	(24.76 %)
Q2 2014	50.30 %	15.95 %	(24.65 %)
Q3 2014	51.27 %	15.29 %	(24.40 %)
Q4 2014	51.79 %	15.50 %	(22.58 %)
2014	52.23 %	15.63 %	(22.77 %)
Q1 2015	52.08 %	15.99 %	(21.21 %)
Q2 2015	53.79 %	18.43 %	(18.95 %)
Q3 2015	55.88 %	21.85 %	(15.66 %)
Q4 2015	58.61 %	24.16 %	(14.42 %)
2015	58.61 %	24.16 %	(14.42 %)
Q1 2016	60.77 %	25.19 %	(14.09 %)
Q2 2016	62.44 %	24.01 %	(15.77 %)
Q3 2016	63.61 %	25.15 %	(16.70 %)
Q4 2016	63.53 %	25.92 %	(14.13 %)
2016	63.53 %	25.92 %	(14.13 %)
Q1 2017	65.05 %	28.46 %	(9.65 %)
Q2 2017	65.83 %	31.52 %	(4.81 %)
Q3 2017	66.60 %	32.71 %	(1.05 %)
Q4 2017	67.25 %	34.45 %	0.16 %
2017	67.25 %	34.45 %	0.16 %
Q1 2018	67.01 %	34.79 %	(1.57 %)
Q2 2018	65.81 %	35.09 %	(2.22 %)
Q3 2018	65.73 %	36.27 %	(1.55 %)
Q4 2018	72.03 %	42.01 %	4.41 %
2018	72.03 %	42.01 %	4.41 %
Q1 2019	72.91 %	44.85 %	6.79 %
Q2 2019	75.47 %	48.22 %	8.67 %
Q3 2019	77.08 %	51.02 %	9.50 %
Q4 2019	71.17 %	48.53 %	5.79 %
2019	71.17 %	48.53 %	5.79 %
Q1 2020	71.55 %	48.06 %	5.53 %
Q2 2020	70.95 %	47.63 %	4.77 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2010	42.64 %	5.57 %	(39.74 %)
2011	47.77 %	13.42 %	(28.74 %)
2012	46.35 %	14.24 %	(28.35 %)
2013	48.06 %	13.65 %	(25.32 %)
2014	52.23 %	15.63 %	(22.77 %)
2015	58.61 %	24.16 %	(14.42 %)
2016	63.53 %	25.92 %	(14.13 %)
2017	67.25 %	34.45 %	0.16 %
2018	72.03 %	42.01 %	4.41 %
2019	71.17 %	48.53 %	5.79 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2011	48.24 %	10.37 %	(35.83 %)
Q2 2011	54.16 %	16.16 %	(26.29 %)
Q3 2011	48.48 %	11.69 %	(26.96 %)
Q4 2011	40.27 %	15.15 %	(26.90 %)
Q1 2012	46.15 %	15.96 %	(27.60 %)
Q2 2012	43.41 %	17.16 %	(24.16 %)
Q3 2012	46.51 %	10.00 %	(32.22 %)
Q4 2012	49.59 %	13.65 %	(29.71 %)
Q1 2013	45.15 %	12.04 %	(23.14 %)
Q2 2013	48.69 %	15.08 %	(21.71 %)
Q3 2013	48.37 %	13.98 %	(26.75 %)
Q4 2013	50.34 %	13.53 %	(30.34 %)
Q1 2014	51.67 %	19.38 %	(20.60 %)
Q2 2014	50.86 %	16.90 %	(20.99 %)
Q3 2014	52.20 %	11.31 %	(25.81 %)
Q4 2014	52.44 %	14.40 %	(22.93 %)
Q1 2015	52.78 %	21.00 %	(15.50 %)
Q2 2015	57.58 %	26.36 %	(12.20 %)
Q3 2015	60.22 %	25.02 %	(12.64 %)
Q4 2015	63.70 %	24.21 %	(17.41 %)
Q1 2016	61.51 %	25.20 %	(14.17 %)
Q2 2016	64.42 %	21.54 %	(19.01 %)
Q3 2016	64.92 %	29.85 %	(16.29 %)
Q4 2016	63.41 %	27.25 %	(7.45 %)
Q1 2017	67.27 %	34.63 %	2.37 %
Q2 2017	67.50 %	33.89 %	0.41 %
Q3 2017	68.13 %	34.90 %	0.19 %
Q4 2017	66.02 %	34.40 %	(2.62 %)
Q1 2018	66.27 %	36.05 %	(4.59 %)
Q2 2018	62.93 %	35.05 %	(2.03 %)
Q3 2018	67.66 %	39.28 %	2.46 %
Q4 2018	89.17 %	55.80 %	19.51 %
Q1 2019	70.71 %	47.97 %	6.18 %
Q2 2019	74.08 %	49.41 %	6.33 %
Q3 2019	74.45 %	50.97 %	6.01 %
Q4 2019	65.95 %	46.04 %	4.71 %
Q1 2020	72.27 %	46.04 %	5.16 %
Q2 2020	71.71 %	47.68 %	3.10 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2011	220.28	(10.11)	(10.11)	25.58
Q2 2011	220.28	(9.28)	(9.28)	23.62
Q3 2011	220.28	(9.01)	(9.01)	21.58
Q4 2011	220.28	(8.74)	(8.74)	19.49
Q1 2012	220.28	(8.23)	(8.23)	17.79
Q2 2012	220.28	(7.98)	(7.98)	16.00
Q3 2012	573.22	(3.08)	(3.08)	15.53
Q4 2012	573.22	(3.05)	(3.05)	14.74
Q1 2013	573.22	(3.01)	(3.01)	14.05
Q2 2013	573.22	(2.97)	(2.97)	13.40
Q3 2013	573.22	(2.85)	(2.85)	12.67
Q4 2013	573.22	(2.88)	(2.88)	11.79
Q1 2014	573.22	(2.74)	(2.74)	11.22
Q2 2014	573.22	(2.67)	(2.67)	10.60
Q3 2014	573.22	(2.49)	(2.63)	10.10
Q4 2014	573.22	(2.21)	(2.45)	9.53
Q1 2015	573.22	(2.11)	(2.34)	9.04
Q2 2015	573.22	(1.88)	(2.12)	8.71
Q3 2015	573.22	(1.72)	(1.81)	8.31
Q4 2015	573.22	(1.70)	(1.70)	7.94
Q1 2016	573.22	(1.68)	(1.68)	7.45
Q2 2016	573.22	(1.91)	(1.91)	6.88
Q3 2016	573.22	(1.98)	(1.98)	6.42
Q4 2016	573.22	(1.71)	(1.71)	6.21
Q1 2017	573.22	(1.19)	(1.19)	6.28
Q2 2017	573.22	(0.61)	(0.61)	6.29
Q3 2017	573.22	(0.14)	(0.14)	6.30
Q4 2017	573.22	0.02	0.02	6.22
Q1 2018	573.22	(0.19)	(0.19)	6.31
Q2 2018	573.22	(0.27)	(0.27)	6.22
Q3 2018	573.22	(0.20)	(0.20)	6.33
Q4 2018	573.22	0.58	0.58	7.00
Q1 2019	573.22	0.94	0.94	6.60
Q2 2019	573.22	1.23	1.23	6.75
Q3 2019	573.22	1.36	1.36	6.92
Q4 2019	573.22	0.85	0.85	7.16
Q1 2020	573.22	0.80	0.80	7.22
Q2 2020	573.22	0.68	0.68	7.31

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2010	220.28	(10.71)	(10.71)	27.83
2011	220.28	(8.74)	(8.74)	19.49
2012	573.22	(3.05)	(3.05)	14.74
2013	573.22	(2.88)	(2.88)	11.79
2014	573.22	(2.21)	(2.45)	9.53
2015	573.22	(1.70)	(1.70)	7.94
2016	573.22	(1.71)	(1.71)	6.21
2017	573.22	0.02	0.02	6.22
2018	573.22	0.58	0.58	7.00
2019	573.22	0.85	0.85	7.16

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2011	NEG	NEG	4.16
Q2 2011	NEG	NEG	4.51
Q3 2011	NEG	NEG	4.47
Q4 2011	NEG	NEG	4.39
Q1 2012	NEG	NEG	9.41
Q2 2012	NEG	NEG	7.52
Q3 2012	NEG	NEG	1.95
Q4 2012	NEG	NEG	1.58
Q1 2013	NEG	NEG	1.71
Q2 2013	NEG	NEG	2.18
Q3 2013	NEG	NEG	2.22
Q4 2013	NEG	NEG	2.33
Q1 2014	NEG	NEG	2.73
Q2 2014	NEG	NEG	2.76
Q3 2014	NEG	NEG	3.12
Q4 2014	NEG	NEG	2.00
Q1 2015	NEG	NEG	1.90
Q2 2015	NEG	NEG	2.09
Q3 2015	NEG	NEG	1.75
Q4 2015	NEG	NEG	1.68
Q1 2016	NEG	NEG	1.87
Q2 2016	NEG	NEG	1.82
Q3 2016	NEG	NEG	1.67
Q4 2016	NEG	NEG	2.13
Q1 2017	NEG	NEG	2.25
Q2 2017	NEG	NEG	2.34
Q3 2017	NEG	NEG	2.22
Q4 2017	More than 100	More than 100	1.88
Q1 2018	NEG	NEG	1.81
Q2 2018	NEG	NEG	1.71
Q3 2018	NEG	NEG	1.57
Q4 2018	22.77	22.77	1.89
Q1 2019	18.68	18.68	2.66
Q2 2019	16.19	16.19	2.96
Q3 2019	14.07	14.07	2.76
Q4 2019	22.14	22.14	2.62
Q1 2020	18.84	18.84	2.10
Q2 2020	26.64	26.64	2.48

Period	P/E	Adjusted P/E	Price/book
2010	NEG	NEG	4.30
2011	NEG	NEG	4.39
2012	NEG	NEG	1.58
2013	NEG	NEG	2.33
2014	NEG	NEG	2.00
2015	NEG	NEG	1.68
2016	NEG	NEG	2.13
2017	More than 100	More than 100	1.88
2018	22.77	22.77	1.89
2019	22.14	22.14	2.62

Business Segments (Million)

Compared With The

Period	Mobile Telecommunications Company	Zain Sales	Zain Payments	Eliminations
Q1 2018	1,685.97	-	-	-
Q2 2018	1,846.43	-	-	-
Q3 2018	1,951.89	-	-	-
Q4 2018	2,046.24	-	-	-
Q1 2019	2,016.32	679.91	-	(602.74)
Q2 2019	1,978.29	670.22	-	(591.75)
Q3 2019	1,923.51	682.16	-	(597.59)
Q4 2019	2,166.58	842.50	0.02	(781.19)
Q1 2020	1,949.70	599.58	0.02	(510.44)
Q2 2020	1,848.49	520.83	0.08	(480.18)

Period	Mobile Telecommunications Company	Zain Sales	Zain Payments	Eliminations
2018	7,530.53	-	-	-
2019	8,084.68	2,874.79	0.02	(2573.27)

Analysts Estimates (Million)

Item	Q2 2020 (e)	Q2 2020 (a)	Change‬
Average	137.35	58.61	(57.3 %)

Estimates vs Actual (Million)

Item	Q2 2020 (e)	Q2 2020 (a)	Change
Riyad Capital	83.00	58.61	(29.4) %
AlJazira Capital	109.40	58.61	(46.4) %
Al Rajhi Capital	135.00	58.61	(56.6) %
SNB Capital	222.00	58.61	(73.6) %

Financial Ratios

	Current
Market Cap (M Riyal)	9,364.77
Enterprise Value (EV) (M)	16,691.90
Shares Outstanding ((M))	898.73
EPS ( Riyal) (TTM)	0.30
Book Value (BV) ( Riyal)	11.62
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	34.95
Price/book	0.90
Return on Average Assets (%) (TTM)	1.0
Return on Average Equity (%) (TTM)	2.6

Mobile Telecommunication Company Saudi Arabia (ZAIN KSA)

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Zain Saudi H1 2020 net profit drops 37% to SAR 164 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2020 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Mobile Telecommunication Company Saudi Arabia (ZAIN KSA)

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Zain Saudi H1 2020 net profit drops 37% to SAR 164 mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2020

Revenue by Business Segment (Latest) 2020 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Mobile Telecommunication Company Saudi Arabia (ZAIN KSA)

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Business Segments (Million)