Zain KSA 2024 profit down 53% to SAR 596M; Q4 at SAR 274M

18/02/2025 Argaam Exclusive

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Mobile Telecommunication Company Saudi Arabia (Zain KSA) reported a net profit of SAR 596 million for 2024, a decline of 53% from SAR 1.26 billion in the prior year.

Financials (M)

Item	2023	2024	Change‬
Revenues	9,882.65	10,365.46	4.9 %
Gross Income	5,857.25	6,314.52	7.8 %
Operating Income	871.33	1,042.56	19.7 %
Net Income	1,267.01	596.37	(52.9 %)
Average Shares	898.73	898.73	-
Earnings Per Share before unusual items	0.14	0.33	131.2 %
EPS (Riyals)	1.41	0.66	(52.9 %)

Gain from the sale and leaseback of all 8,069 towers was fully recognized during 2023 for a total amount of SAR 1.1 billion, the telecom operator noted, adding that the profit decline was also driven by a 2.5% or SAR 66 million increase in operating expenses and a SAR 203 million rise in expected credit loss expenses.

On the other hand, Zain KSA achieved lifetime high revenues of SAR 10.4 billion in 2024, a 5% growth compared to 2023 (SAR 9.9 billion). This increase in revenue was driven by the growth in 5G, wholesale, TAMAM and B2B segments.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by SAR 345 million (11.6%) to SAR 3.32 billion in 2024 as compared to SAR 2.97 billion in 2023.

Zakat decreased by SAR 131 million due to the new regulations. Zain KSA reassessed its Zakat provision and consequently reversed additional provision charged in prior periods during 2024 for an amount of SAR 76 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	2,542.77	2,694.67	6.0 %
Gross Income	1,477.29	1,671.57	13.2 %
Operating Income	108.39	388.83	258.7 %
Net Income	(54.06)	274.39	607.6 %
Average Shares	898.73	898.73	-
Earnings Per Share before unusual items	(0.11)	0.23	312.9 %
EPS (Riyals)	(0.06)	0.31	607.6 %

Item	Q3 2024	Q4 2024	Change‬
Revenues	2,583.42	2,694.67	4.3 %
Gross Income	1,557.32	1,671.57	7.3 %
Operating Income	161.32	388.83	141.0 %
Net Income	150.27	274.39	82.6 %
Average Shares	898.73	898.73	-
Earnings Per Share before unusual items	(0.03)	0.23	849.2 %
EPS (Riyals)	0.17	0.31	82.6 %

The telco posted net earnings of SAR 274 million in Q4 2024, against a loss of SAR 54 million in Q4 2023.

Compared with the previous quarter, net profit jumped 82.4% from SAR 150.27 million in Q3 2024.

Shareholders' equity, no minority interest, amounted to SAR 10.7 billion as of Dec. 31, 2024, compared to SAR 10.59 billion a year earlier.

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Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	Earnings Per Share before unusual items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	(291.11)	5.0 %	(0.51)	-	(291.11)	(0.51)
2015	-	-	-	-	-	-
Q1 2016	(250.00)	-	(0.44)	-	(250.00)	(0.44)
Q2 2016	(328.30)	-	(0.57)	-	(328.30)	(0.57)
Q3 2016	(266.11)	-	(0.46)	-	(266.11)	(0.46)
Q4 2016	(134.13)	53.9 %	(0.23)	-	(134.13)	(0.23)
2016	(978.54)	-	(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
Q3 2020	60.17	(50.2 %)	0.10	136.26	(76.09)	(0.13)
Q4 2020	35.95	(65.8 %)	0.04	-	35.95	0.04
2020	259.95	(46.4 %)	0.29	136.26	123.69	0.14
Q1 2021	40.87	(61.2 %)	0.05	-	40.87	0.05
Q2 2021	41.65	(28.9 %)	0.05	-	41.65	0.05
Q3 2021	60.39	0.4 %	0.07	-	60.39	0.07
Q4 2021	71.40	98.6 %	0.08	-	71.40	0.08
2021	214.30	(17.6 %)	0.24	-	214.30	0.24
Q1 2022	80.52	97.0 %	0.09	-	80.52	0.09
Q2 2022	133.83	221.3 %	0.15	-	133.83	0.15
Q3 2022	85.15	41.0 %	0.09	-	85.15	0.09
Q4 2022	250.18	250.4 %	0.28	41.89	208.28	0.23
2022	549.67	156.5 %	0.61	41.89	507.77	0.56
Q1 2023	1,137.22	1312.4 %	1.27	1,143.75	(6.53)	(0.01)
Q2 2023	114.19	(14.7 %)	0.13	(0.62)	114.81	0.13
Q3 2023	69.66	(18.2 %)	0.08	(47.82)	117.48	0.13
Q4 2023	(54.06)	(121.6 %)	(0.06)	42.77	(96.83)	(0.11)
2023	1,267.01	130.5 %	1.41	1,138.07	128.93	0.14
Q1 2024	66.51	(94.2 %)	0.07	-	66.51	0.07
Q2 2024	105.20	(7.9 %)	0.12	52.26	52.94	0.06
Q3 2024	150.27	115.7 %	0.17	177.78	(27.51)	(0.03)
Q4 2024	274.39	607.6 %	0.31	68.27	206.12	0.23
2024	596.37	(52.9 %)	0.66	298.31	298.06	0.33

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	Earnings Per Share before unusual items
2015	-	-	-	-	-	-
2016	(978.54)	-	(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
2020	259.95	(46.4 %)	0.29	136.26	123.69	0.14
2021	214.30	(17.6 %)	0.24	-	214.30	0.24
2022	549.67	156.5 %	0.61	41.89	507.77	0.56
2023	1,267.01	130.5 %	1.41	1,138.07	128.93	0.14
2024	596.37	(52.9 %)	0.66	298.31	298.06	0.33

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	1,672.03	7.4 %	1,065.09	30.5 %	(82.42)	56.0 %
2015	-	-	-	-	-	-
Q1 2016	1,764.88	-	1,085.55	-	(32.03)	-
Q2 2016	1,727.40	-	1,112.80	-	(108.29)	-
Q3 2016	1,633.76	-	1,060.63	-	(1.97)	-
Q4 2016	1,800.61	7.7 %	1,141.69	7.2 %	87.85	206.6 %
2016	6,926.65	-	4,400.67	-	(54.43)	-
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 %)
Q3 2020	1,927.59	(4.0 %)	1,265.93	(15.3 %)	138.27	(69.3 %)
Q4 2020	2,060.88	(7.5 %)	1,350.59	(8.1 %)	210.32	(51.1 %)
2020	7,916.55	(5.6 %)	5,444.64	(8.8 %)	1,001.96	(43.0 %)
Q1 2021	1,937.51	(5.0 %)	1,215.51	(17.5 %)	158.08	(55.7 %)
Q2 2021	1,895.86	0.4 %	1,258.86	(7.1 %)	159.35	(46.3 %)
Q3 2021	1,984.17	2.9 %	1,244.06	(1.7 %)	188.33	36.2 %
Q4 2021	2,083.10	1.1 %	1,166.17	(13.7 %)	192.98	(8.2 %)
2021	7,900.65	(0.2 %)	4,884.60	(10.3 %)	698.74	(30.3 %)
Q1 2022	2,178.58	12.4 %	1,235.91	1.7 %	201.13	27.2 %
Q2 2022	2,206.10	16.4 %	1,250.81	(0.6 %)	238.65	49.8 %
Q3 2022	2,286.62	15.2 %	1,376.35	10.6 %	246.48	30.9 %
Q4 2022	2,403.87	15.4 %	1,452.31	24.5 %	379.43	96.6 %
2022	9,075.17	14.9 %	5,315.37	8.8 %	1,065.70	52.5 %
Q1 2023	2,422.16	11.2 %	1,414.84	14.5 %	191.17	(5.0 %)
Q2 2023	2,392.38	8.4 %	1,483.64	18.6 %	252.58	5.8 %
Q3 2023	2,525.34	10.4 %	1,481.49	7.6 %	319.20	29.5 %
Q4 2023	2,542.77	5.8 %	1,477.29	1.7 %	108.39	(71.4 %)
2023	9,882.65	8.9 %	5,857.25	10.2 %	871.33	(18.2 %)
Q1 2024	2,535.18	4.7 %	1,545.17	9.2 %	250.73	31.2 %
Q2 2024	2,552.20	6.7 %	1,540.46	3.8 %	241.69	(4.3 %)
Q3 2024	2,583.42	2.3 %	1,557.32	5.1 %	161.32	(49.5 %)
Q4 2024	2,694.67	6.0 %	1,671.57	13.2 %	388.83	258.7 %
2024	10,365.46	4.9 %	6,314.52	7.8 %	1,042.56	19.7 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2015	-	-	-	-	-	-
2016	6,926.65	-	4,400.67	-	(54.43)	-
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 %
2020	7,916.55	(5.6 %)	5,444.64	(8.8 %)	1,001.96	(43.0 %)
2021	7,900.65	(0.2 %)	4,884.60	(10.3 %)	698.74	(30.3 %)
2022	9,075.17	14.9 %	5,315.37	8.8 %	1,065.70	52.5 %
2023	9,882.65	8.9 %	5,857.25	10.2 %	871.33	(18.2 %)
2024	10,365.46	4.9 %	6,314.52	7.8 %	1,042.56	19.7 %

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
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	-	-	-
Q2 2019	75.47 %	48.22 %	8.67 %
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	71.17 %	48.53 %	5.79 %
Q1 2020	71.55 %	48.06 %	5.53 %
Q2 2020	70.95 %	47.63 %	4.77 %
Q3 2020	68.82 %	44.93 %	2.38 %
Q4 2020	68.78 %	43.47 %	1.56 %
2020	68.78 %	43.47 %	1.56 %
Q1 2021	66.37 %	41.43 %	0.76 %
Q2 2021	65.09 %	39.66 %	0.54 %
Q3 2021	64.34 %	39.87 %	2.27 %
Q4 2021	61.83 %	39.60 %	2.71 %
2021	61.83 %	39.60 %	2.71 %
Q1 2022	60.25 %	38.27 %	3.12 %
Q2 2022	57.94 %	36.88 %	4.10 %
Q3 2022	57.45 %	34.97 %	4.24 %
Q4 2022	58.57 %	34.76 %	5.60 %
2022	58.57 %	34.76 %	5.60 %
Q1 2023	58.96 %	33.60 %	4.51 %
Q2 2023	60.25 %	33.23 %	4.23 %
Q3 2023	59.86 %	33.23 %	4.45 %
Q4 2023	59.27 %	30.13 %	1.30 %
2023	59.27 %	30.13 %	1.30 %
Q1 2024	59.90 %	30.53 %	2.02 %
Q2 2024	59.52 %	29.91 %	1.38 %
Q3 2024	59.92 %	28.48 %	(0.05 %)
Q4 2024	60.92 %	30.55 %	2.88 %
2024	60.92 %	30.55 %	2.88 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2015	-	-	-
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 %
2020	68.78 %	43.47 %	1.56 %
2021	61.83 %	39.60 %	2.71 %
2022	58.57 %	34.76 %	5.60 %
2023	59.27 %	30.13 %	1.30 %
2024	60.92 %	30.55 %	2.88 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
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 %
Q3 2020	65.67 %	39.78 %	(3.95 %)
Q4 2020	65.53 %	40.51 %	1.74 %
Q1 2021	62.74 %	37.96 %	2.11 %
Q2 2021	66.40 %	40.36 %	2.20 %
Q3 2021	62.70 %	40.61 %	3.04 %
Q4 2021	55.98 %	39.45 %	3.43 %
Q1 2022	56.73 %	33.18 %	3.70 %
Q2 2022	56.70 %	34.76 %	6.07 %
Q3 2022	60.19 %	32.78 %	3.72 %
Q4 2022	60.42 %	38.09 %	8.66 %
Q1 2023	58.41 %	28.88 %	(0.27 %)
Q2 2023	62.02 %	33.20 %	4.80 %
Q3 2023	58.66 %	32.81 %	4.65 %
Q4 2023	58.10 %	25.78 %	(3.81 %)
Q1 2024	60.95 %	30.51 %	2.62 %
Q2 2024	60.36 %	30.58 %	2.07 %
Q3 2024	60.28 %	27.08 %	(1.06 %)
Q4 2024	62.03 %	33.88 %	7.65 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
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	-	-	-	-
Q2 2019	573.22	1.23	1.23	6.75
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	573.22	0.80	0.80	7.22
Q2 2020	573.22	0.68	0.68	7.31
Q3 2020	573.22	0.57	0.34	7.40
Q4 2020	898.73	0.29	0.14	9.71
Q1 2021	898.73	0.22	0.07	9.79
Q2 2021	898.73	0.20	0.05	9.83
Q3 2021	898.73	0.20	0.20	9.93
Q4 2021	898.73	0.24	0.24	10.06
Q1 2022	898.73	0.28	0.28	10.28
Q2 2022	898.73	0.39	0.39	10.48
Q3 2022	898.73	0.41	0.41	10.63
Q4 2022	898.73	0.61	0.56	10.91
Q1 2023	898.73	1.79	0.47	12.17
Q2 2023	898.73	1.77	0.45	11.81
Q3 2023	898.73	1.75	0.48	11.90
Q4 2023	898.73	1.41	0.14	11.78
Q1 2024	898.73	0.22	0.22	11.86
Q2 2024	898.73	0.21	0.16	11.48
Q3 2024	898.73	0.30	(0.01)	11.62
Q4 2024	898.73	0.66	0.33	11.91

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2015	-	-	-	-
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
2020	898.73	0.29	0.14	9.71
2021	898.73	0.24	0.24	10.06
2022	898.73	0.61	0.56	10.91
2023	898.73	1.41	0.14	11.78
2024	898.73	0.66	0.33	11.91

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
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	-	-	-
Q2 2019	16.19	16.19	2.96
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	18.84	18.84	2.10
Q2 2020	26.64	26.64	2.48
Q3 2020	37.72	64.40	2.92
Q4 2020	47.02	98.82	1.40
Q1 2021	68.93	More than 100	1.53
Q2 2021	73.15	More than 100	1.48
Q3 2021	70.35	70.35	1.41
Q4 2021	50.49	50.49	1.20
Q1 2022	47.14	47.14	1.30
Q2 2022	29.18	29.18	1.07
Q3 2022	27.77	27.77	1.08
Q4 2022	16.45	17.81	0.92
Q1 2023	7.27	27.77	1.07
Q2 2023	8.02	31.68	1.20
Q3 2023	7.53	27.25	1.11
Q4 2023	9.99	98.15	1.19
Q1 2024	57.78	56.16	1.06
Q2 2024	56.62	75.70	1.03
Q3 2024	36.77	NEG	0.94
Q4 2024	15.46	30.94	0.86

Period	P/E	Adjusted P/E	Price/book
2015	-	-	-
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
2020	47.02	98.82	1.40
2021	50.49	50.49	1.20
2022	16.45	17.81	0.92
2023	9.99	98.15	1.19
2024	15.46	30.94	0.86

Business Segments (Million)

Compared With The

Period	Mobile Telecommunications Company	Zain Sales	Tamam Finance	Zain Drones	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)
Q3 2020	1,857.34	627.02	0.12	-	(556.90)
Q4 2020	1,985.05	612.51	0.51	-	(537.19)
Q1 2021	1,898.99	483.70	1.99	-	(447.17)
Q2 2021	1,861.58	409.30	2.15	-	(377.17)
Q3 2021	1,946.62	510.56	4.34	-	(477.34)
Q4 2021	2,050.20	452.99	7.13	1.25	(428.47)
Q1 2022	2,134.13	394.10	10.43	-	(360.07)
Q2 2022	2,140.45	494.49	23.33	-	(452.17)
Q3 2022	2,211.37	351.65	39.93	-	(316.33)
Q4 2022	2,311.89	385.36	53.21	1.12	(347.71)
Q1 2023	2,318.24	349.84	67.42	0.03	(313.37)
Q2 2023	2,289.60	323.79	72.33	(0.28)	(293.06)
Q3 2023	2,423.20	285.66	74.95	0.11	(258.58)
Q4 2023	2,456.96	311.92	68.88	0.02	(295.01)
Q1 2024	2,430.90	228.32	82.48	-	(206.52)
Q2 2024	2,437.39	237.93	87.72	-	(210.85)
Q3 2024	2,459.98	270.60	95.22	0.15	(242.53)
Q4 2024	2,578.46	234.47	102.25	0.18	(220.68)

Period	Mobile Telecommunications Company	Zain Sales	Tamam Finance	Zain Drones	Eliminations
2018	7,530.53	-	-	-	-
2019	8,084.68	2,874.79	0.02	-	(2573.27)
2020	7,640.57	2,359.95	0.73	-	(2084.71)
2021	7,757.39	1,856.54	15.62	1.25	(1730.16)
2022	8,797.84	1,625.60	126.90	1.12	(1476.28)
2023	9,488.00	1,271.21	283.57	(0.12)	(1160.01)
2024	9,906.72	971.32	367.67	0.33	(880.58)

Analysts Estimates (Million)

Item	Q4 2024 (e)	Q4 2024 (a)	Change‬
Average	65.80	274.39	317.01 %

Estimates vs Actual (Million)

Item	Q4 2024 (e)	Q4 2024 (a)	Change
SNB Capital	100.00	274.39	174.4 %
Riyad Capital	75.00	274.39	265.9 %
United Securities Company	56.00	274.39	390.0 %
AlJazira Capital	51.00	274.39	438.0 %
Al Rajhi Capital	47.00	274.39	483.8 %

Financial Ratios

	Current
Market Cap (M Riyal)	9,778.18
Enterprise Value (EV) (M)	17,108.24
Shares Outstanding ((M))	898.73
EPS ( Riyal) (TTM)	0.66
Book Value (BV) ( Riyal)	11.91
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	32.81
P/E (TTM)	16.40
Price/book	0.91
Return on Average Assets (%) (TTM)	2.1
Return on Average Equity (%) (TTM)	3.1

Mobile Telecommunication Company Saudi Arabia (ZAIN KSA)

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Zain KSA 2024 profit down 53% to SAR 596M; Q4 at SAR 274M

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Financials (M)

Current Quarter Comparison (M)

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Profit Performance (Million)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

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Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q4

Analysts Estimates (Million)

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Mobile Telecommunication Company Saudi Arabia (ZAIN KSA)

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Zain KSA 2024 profit down 53% to SAR 596M; Q4 at SAR 274M

View other reports

Financials (M)

Current Quarter Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2024

Revenue by Business Segment (Latest) 2024 Q4

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)