Page 14 - SAMENA Trends - October 2019

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

MEMBERS NEWS

STC Books an 8.7% Increase in Net Profit in 9M
2019

Saudi Telecom Company (STC) has to the corresponding period last year by
published its financial results for the nine 8.73%, and the increase in net profits for
months ended 30 June 2019, reporting an the third quarter compared to the same
8.7% increase in net profit to SAR8.344 quarter the last year by 3.90%, indicates the
billion (USD2.22 billion) from SAR7.674 company’s constant strong performance
billion in the corresponding period a year supported by an increase in revenue from
earlier. The company attributed the positive Consumer and Wholesale business units
result to a SAR2.355 billion increase in as well as STC’s subsidiaries. The company
revenues, which resulted in a SAR2.079 today is playing a key role in enabling
billion rise in gross profit (up by 9.5% digital transformation, which is one of
year-on-year). In the period under review, the main objectives of the Saudi Vision
STC reported a 6.1% improvement in 2030. Not to mention, we have spared
revenues to SAR41.103 billion (SAR38.748 no efforts in investing and supporting
billion in 9M 2018), while EBITDA reached innovative solutions as we have worked on
SAR16.279 billion, up 12.7% y-o-y from developing digital payments, big data, use
SAR14.447 billion. Eng. Nasser Bin of cloud computing, Cybersecurity, IoT and
Sulaiman Al Nasser, STC Group CEO, artificial intelligence to remain among the
stated: ‘The increase in net profit for the best telecommunication and information
nine-month period of this year compared technology companies in the world.’

STC Academy Launched the First Exclusive Program in KSA with Google

STC Academy is happy to have launched the
first exclusive program in KSA with Google,
the Digital Guru program. Dr. Mouhdi, GM
of ICT School in STC Academy, stated that
it will help in developing and boosting the
digital knowledge in the business market
of the country. Participants taking this
program run through a series of colored
belts where each belt represents a different
focus. We align with the importance of
developing the workforce in the Kingdom
as participants will practice using
Google tools to help them become better
professionals. As one of STC Academy’s
main mandates, it establishes itself as
a digital pioneer in KSA and an arm for
boosting digital knowledge in the business
market. George Achkar, the Digital Strategy
Lead at Google, stated “It was a great
honor facilitating our first ever Digital Guru
sessions in KSA, made possible thanks you for your unprecedented collaboration, to come.”
to the entire STC Academy team. Thank looking forward to many great successes

14 OCTOBER 2019