Earnings Report /
Saudi Arabia

STC: Higher top-line mitigated by lower margins

  • Revenues increased +14.7% yoy (+2.2% qoq) to SAR15.2bn and came broadly in-line with our estimates

  • Gross profit stood at SAR8.49bn, lower than our estimates of SAR8.63bn

  • EBITDA stood at SAR5.72bn in Q4 20, +5.5% higher than our estimates of SAR5.42bn on lower operating costs

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
24 January 2021
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