www.stc.com.sa
Introduction
stc.com.sa are a pioneer digital champion, always been focused on innovation and evolution,
thinking about future to make it, to stay ahead as a truly meaningful and purposeful organization.
They offer variety of ICT solutions and digital services in several categories
including telecommunication, IT, financial technology, digital media, cybersecurity, and other
advanced digital solutions, with that we are leading the digital transformation nationally and
regionally.
The vision: Are a world-class digital leader providing innovative services and platforms to our customers
and enabling the digital transformation of the Middle East and North Africa (MENA) region.
The purpose: Creating and bring greater dimension and richness to peopleàpersonal and
professional lives.
The values
a- Dynamism
How we become a company that is continuously looking to
improve and adopt new and better ways of doing things, with a
fresh and ingenious view.
Agile – Collaborative resh
b- devotion The desire to become a õstomer-centric#ompany
for our clients and our employees. Caring ommitted Trustworthy
c- drive We are ¥stless looking for the best possible
solutions for our clients and our employee.. Proactive nventive
nquisitive
The future strategy plan Overview
During 2019, stc made outstanding achievements that
enabled it to move forward in terms of digital services that
enrich the lives of our customers and employees. The Group
plays a key role in enabling digital transformation in the
Kingdom of Saudi Arabia in line with the Saudi Vision 2030
and the goals of stcàDARE strategy for new growth
opportunities. On the financial level, consolidated revenues
increased by 4.63% in 2019 compared to the same period of
the previous year to reach SR 54,368 million, gross profit
increased by 6.29% to reach SR 32,391 million, and
operating profit increased by 1.92% to reach SR 12,480
million, and the net profit reached SR 10,665 million by the
end of 2019.
https://www.stc.com.sa/content/stcgroupwebsite/sa/en/investors/financial-reports/reports/annual-reports.html
Sours: STC_Anuual_Report_2019-en.pdf
Source: *STC+Group+2017+Annual+FS+(English)+FINAL.pdf
Source: untitled (stc.com.sa) Report 2018
Source: STC_Anuual_Report_2019-en.pdf
Consolidated statement of financial position as at 31 december 2019
(All Amounts in Saudi Riyals thousands unless otherwise stated)
2019
2018
45,085,342
9,906,688
2,887,933
6,618,526
648,069
922,922
7,323,433
91,851
73,484,764
_
1,721,530
21,372,368
2,181,416
6,793,755
376,589
4,097,096
41,920,409
9,560,119
6,581,733
504,042
1,030,129
3,373,016
371,621
63,341,069
8,031,010
44,573,764
267,728
44,841,492
118,326,256
8,153,865
_
_
48,607,576
111,948,645
2019
2018
20,000,000
10,000,000
-2,745,608
34,508,202
61,762,594
1,292,452
63,055,046
20,000,000
10,000,000
(1,903,878)
37,417,562
65,513,684
1,147,914
66,661,598
ASSETS
NON-CURRENT ASSETS
Property and equipment
Intangible assets and goodwill
Right of use assets
Investments in associates and joint ventures
Contract assets
Contract costs
Financial assets
Other non-current assets
TOTAL NON-CURRENT ASSETS
CURRENT ASSETS
Inventories
Trade and other receivables
Short term murabahas
Contract assets
Other financial assets
Other current assets
Cash and cash equivalents
Assets held for sale
Other current assets
TOTAL CURRENT ASSETS
TOTAL ASSETS
EQUITY AND LIABILITIES
_
787,456
14,422,178
9,685,491
8,117,463
5,488,245
1,952,878
EQUITY
Issued capital
Statutory reserves
Other reserves
Retained earnings
Equity attributable to the equity holders of the Parent Company
Non-controlling interests
TOTAL EQUITY
LIABILITIES
NON-CURRENT LIABILITIES
Long term borrowings
End of service benefits provision
Lease liabilities
Provisions
Contract liabilities
Other financial liabilities
Other non-current liabilities
TOTAL NON-CURRENT LIABILITIES
CURRENT LIABILITIES
Trade and other payables
Provisions
Contract liabilities
Zakat and income tax
Lease liabilities
Short term borrowings
Other financial liabilities
Other current liabilities
TOTAL CURRENT LIABILITIES
TOTAL LIABILITIES
TOTAL EQUITY AND LIABILITIES
8,923,476
4,812,805
1,580,935
891,210
771,915
1,591,911
3,508,706
22,080,958
_
18,694,412
5,157,110
2,465,735
1,482,278
1,300,242
389,339
2,145,276
1,555,860
33,190,252
55,271,210
118,326,256
3,965,479
3,919,362
2,144,290
891.91
771.915
1,526,259
32.726
13,251,941
_
16,670,958
6,829,451
2,538,940
1,465,775
41.141
320.533
90.731
4,077,577
32,035,106
45,287,047
111,948,645
CONSOLIDATED STA+F50:J65TEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019
(All Amounts in Saudi Riyals thousands unless otherwise stated)
NET PROFIT
OTHER COMPREHENSIVE INCOME (LOSS)
Items that will not be reclassified subsequently to consolidated
statement of profit or loss: Re-measurement of end of service
benefit provision
Fair value changes on equity instruments measured at fair value
through other comprehensive income (FVOCI)
Total items that will not be reclassified subsequently to
consolidated statement of profit or loss
Items that may be reclassified subsequently to consolidated
statement of profit or loss: Foreign currency translation
differences
Fair value changes from cash flow hedges
Share of other comprehensive income/(loss) of associates and
joint ventures, net
Total items that may be reclassified subsequently to
consolidated statement of profit or loss
2019
2018
10,924,831
11,080,498
-710,054
13.414
_
113.543
-710,054
126.957
-1,479
-484
-10.003
736
214,013
-247.317
212,050
-257.32
TOTAL OTHER COMPREHENSIVE LOSS
-498,004
-130.363
TOTAL COMPREHENSIVE INCOME
Total comprehensive income attributable to: Equity holders of
the Parent Company
Non-controlling interests
10,426,827
10,950,135
10,163,477
263,350
10,426,827
10,651,283
298.852
10,950,135
olution,
rganization.
and other
ly and
ms to our customers
region.
s/annual-reports.html
CONSOLIDATED STATEMENET OF PROFIT OR LOSS FOR THE YEAR ENDED 31 DECEM
(All Amounts in Saudi Riyals thousands unless otherwise stated)
2017
39,940,616
7,174,575
Revenues
Cost of revenues
GROSS PROFIT
–
6,927,303
_
_
_
8,657,822
63,299,580
_
460.431
25,549,424
14,465,364
5,211,211
_
1,770,961
OPERATING EXPENSES
Selling and marketing
General and administration
Depreciation and amortisation
TOTAL OPERATING EXPENSES
OPERATING PROFIT
OTHER INCOME AND EXPENSES
Cost of early retirement program
Finance income
Finance cost
Net other (expenses) income
Net share in results of investments in associates and joint ventures
2,567,044
_
_
44,813,224
108,112,804
2017
20,000,000
10,000,000
(1,769,028)
34,010,412
62,241,384
1,003,289
63,244,673
Net other losses
TOTAL OTHER INCOME (EXPENSES)
NET PROFIT BEFORE ZAKAT AND INCOME TAX
Zakat and income tax
NET PROFIT
Net profit attributable to:
Equity holders of the Parent Company
Non-controlling interests
Basic and diluted earnings per share
(In Saudi Riyals)
saudi telecom company (a saudi joint stock company) consolidated financial statements
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2018
(All Amounts in Saudi Riyals thousands unless otherwise stated)
4,005,980
3,922,769
1,763,440
1,202,448
_
_
145.543
11,040,180
_
13,827,806
7,633,984
_
1,623,423
2,872,083
_
_
7,222,892
33,827,951
44,868,131
108,112,804
DED 31 DECEMBER 2019
2017
10,370,135
-117.361
_
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit before zakat and income tax
Adjustments : Depreciation and amortisation
Impairment loss and amortisation of contract costs and contract assets
Impairment loss on trade receivables
Allowance for slow moving inventories
Finance income
Finance cost
Provision for end of service benefits and other provisions
Share in results of investments in associates and joint ventures, net
Net other losses
Operating profit before working capital adjustments
Movements in : Trade receivables and others
Inventories
Contract costs
Contract assets
Other assets
Deferred income
Trade payables and others
Contract liabilities
Other liabilities
Cash generated from operations
Less: Zakat and income tax paid
Less: Provision for end of service benefits paid
Net cash generated from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Additions
to property and equipment
Additions to intangible assets
Proceeds from sale of property and equipment
Dividends from associates
-117.361
Acquisition of a new subsidiary
-15.367
-2.595
Proceeds from finance income
Proceeds related to financial assets
-44.766
Payments related to financial assets
72.595
Total Proceeds & Payments related to financial assets, net
10,325,369
10,082,689
242.68
10,325,369
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
paid
Acquisition cost of non-controlling interests in a subsidiary
Repayment of lease liabilities
Repayment of borrowings
Proceeds from borrowings
Finance cost paid
Net cash used in financing activities
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR
Net foreign exchange difference
CASH AND CASH EQUIVALENTS AT END OF THE YEAR
Dividends
THE YEAR ENDED 31 DECEMBER 2019
2019
2018
2017
54,367,531
51,963,243
50,661,335
(21,976,306)
(21,490,161)
(22,105,926)
32,391,225
30,473,082
28,555,409
(5,581,969)
(5,480,288)
(5,608,634)
(5,544,276)
(5,157,039)
(4,516,029)
(8,784,587)
(7,590,530)
(7,444,735)
(19,910,832)
(18,227,857)
(17,569,398)
12,480,393
12,245,225
10,986,011
-600,000
-450,000
-600,000
639,161
551,535
584.682
-765,154
-76,062
-395,440
-353.542
102943
85.036
49,597
-10,605
-40,960
-215,493
305.591
-18.405
-793,418
-417,060
3.362
11,686,975
11,828,165
10,989,373
-762.144
-747,667
-720.70
10,924,831
11,080,498
10,268,673
10,664,666
10,779,771
10,015,576
260,165
300,727
253.097
10,924,831
11,080,498
10,268,673
5.33
5.39
5.01
dated financial statements for the year ended 31 december 2019
ENDED 31 DECEMBER 2018
2019
2018
2017
11,686,975
8,784,587
506,951
662,043
57,086
-639,161
765,154
935,304
-49,597
40,960
11,828,165
7,590,530
623.136
741.583
31.863
-554.909
398.814
1,293,581
10.605
215.493
10,989,373
7,444,735
579.468
848.495
124.487
-584.682
353.542
2,806,935
-305.591
18.405
-7,574,857
-988,430
-296,936
-1,573,106
-2,317,470
_
4,714,301
-130,160
-3,469,086
11,114,558
-742,882
-451,050
9,920,626
5,239,857
-337.038
-477.758
-727,257
(1,210,921)
1,098,725
729,809
-724.005
-4,326,337
20,345,211
-690,934
-521,861
19,132,416
(8,298,267)
-132.252
-404.074
1,756,702
-702.237
374.007
410.636
(1,027,978)
2,813,388
17,065,092
-649.427
-499.614
15,916,051
-9,426,711
-8,406,935
(6,576,858)
-1,941,453
-1,350,151
(1,359,313)
140,307
5,094
13.375
37,931
_
41.077
-232,669
_
_
642,431
595,731
752.261
23,731,986
26,988,671
_
-14,928,948
-22,859,438
_
8,803,038
4,129,233
498.916
-1,977,126
-5,027,028
(7,789,741)
-12,105,714
-8,054,671
(8,019,234)
_
_
-437.382
-712,467
-350,948
5,381,417
-279,933
-8,067,645
-124,145
8,153,865
1,290
8,031,010
_
-635,710
303,936
-130,517
-8,516,962
5,588,426
2,567,044
-1,605
8,153,865
_
(3,298,573)
1,924,461
-149.454
(9,980,182)
(1,069,768)
3,631,202
5.61
2,567,044

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