Earnings Report /
Saudi Arabia

Zain KSA: Improved operational efficiency drives qoq growth

  • Revenues increased 2.9% yoy (+4.6% qoq) to SAR2.0bn, in-line with our estimate

  • Growth in revenue across the operators reflects the increase in the overall mobile subscribers in Saudi

  • Gross margin stood at 62.7% vs our estimates of 64.8% and Q3 20 margin of 65.7%

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
25 October 2021
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