Zain KSA earns SAR 322M in 9M 2024, SAR 150M in Q3

29/10/2024 Argaam Exclusive

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Mobile Telecommunication Company Saudi Arabia (Zain KSA) reported a net profit of SAR 322 million in the first nine months of 2024, a slump of 75.6% from SAR 1.3 billion in the prior-year period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	7,339.88	7,670.79	4.5 %
Gross Income	4,379.96	4,642.95	6.0 %
Operating Income	762.94	653.73	(14.3 %)
Net Income	1,321.07	321.98	(75.6 %)
Average Shares	898.73	898.73	-
EPS (Riyals)	1.47	0.36	(75.6 %)

The nine-month bottom line was hurt by year-on-year (YoY) increases of SAR 123 million and SAR 217 million in operating expenses (OpEx) and expected credit losses, respectively.

On the other hand, revenue grew by 4.5% YoY to SAR 331 million in the current period, backed by growth in B2B sales, 5G services, wholesale revenue, in addition to the growth in Tamam business.

The telecom operator reported a drop in Zakat from SAR 65 million in 9M 2023 to SAR 32 million in 9M 2024.

Operating profit rose to SAR 810 million.

Adjusting for the sale of tower infrastructure, Zain KSA’s net profit, would have reached SAR 300 million in the nine-month period of 2024 compared to SAR 226 million in the same period of 2023.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	2,525.34	2,583.42	2.3 %
Gross Income	1,481.49	1,557.32	5.1 %
Operating Income	319.20	161.31	(49.5 %)
Net Income	69.66	150.27	115.7 %
Average Shares	898.73	898.73	-
EPS (Riyals)	0.08	0.17	115.7 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	2,552.20	2,583.42	1.2 %
Gross Income	1,540.46	1,557.32	1.1 %
Operating Income	241.69	161.31	(33.3 %)
Net Income	105.20	150.27	42.8 %
Average Shares	898.73	898.73	-
EPS (Riyals)	0.12	0.17	42.8 %

The telecom operator’s net profit more than doubled from SAR 70 million in Q3 2023 to SAR 150 million in Q3 2024.

On a sequential basis, net earnings jumped 42.6% from SAR 105 million in Q2 2024.

Total shareholders’ equity, no minority interest, rose to SAR 10.44 billion as of Sept. 30, 2024, from SAR 10.34 billion a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %)
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 %	108.00	(71.5 %)
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 %	161.31	(49.5 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %
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 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
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	(54.00)	(121.6 %)	(0.06)	42.77	(96.77)	(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	177.79	(27.52)	(0.03)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
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

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
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 %	1.31 %
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 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
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 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
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 %	25.76 %	(3.81 %)
Q1 2024	60.95 %	30.51 %	2.62 %
Q2 2024	60.36 %	30.58 %	2.07 %
Q3 2024	60.28 %	27.08 %	(1.07 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
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	11.51
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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
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

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
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	1.14
Q4 2023	9.99	98.10	1.19
Q1 2024	57.76	56.14	1.06
Q2 2024	56.60	75.67	1.03
Q3 2024	36.76	NEG	0.94

Period	P/E	Adjusted P/E	Price/book
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
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

Business Segments (Million)

Compared With The

Period	Mobile Telecommunications Company	Zain Sales	Zain Payments	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	(295.02)
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)

Period	Mobile Telecommunications Company	Zain Sales	Zain Payments	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)

Analysts Estimates (Million)

Item	Q3 2024 (e)	Q3 2024 (a)	Change‬
Average	85.20	150.27	76.37 %

Estimates vs Actual (Million)

Item	Q3 2024 (e)	Q3 2024 (a)	Change
Goldman Sachs	116.83	150.27	28.6 %
United Securities Company	97.00	150.27	54.9 %
Al Rajhi Capital	84.00	150.27	78.9 %
Hermes	78.00	150.27	92.7 %
AlJazira Capital	75.00	150.27	100.4 %
Riyad Capital	73.00	150.27	105.9 %
SNB Capital	72.60	150.27	107.0 %

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 KSA earns SAR 322M in 9M 2024, SAR 150M in Q3

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Financials (M)

Current Quarter Comparison (M)

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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) 2024 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

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Mobile Telecommunication Company Saudi Arabia (ZAIN KSA)

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Zain KSA earns SAR 322M in 9M 2024, SAR 150M in Q3

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) Q3 2024

Revenue by Business Segment (Latest) 2024 Q3

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)