Saudi Telecom Company (STC) revenue announced today reflects its focus on 3G and 3G.
TelecomLead.com is presenting some of the highlights of result of STC.
STC 4G network coverage exceeded 76 percent of populated areas. Currently, STC has more than 7,250 sites.
Wireless broadband revenue during the third quarter grew 63 percent. This was primarily due to increased coverage.
Fixed broadband customers increased 6 percent. The telecom service provider’s fiber optic network in the Middle East covers more than 750,000 locations.
STC does not share its Capex (capital spending).
STC revenues for the 9 months rose 2.5 percent to SR 34,334 million.
Gross profit increased 7 percent to SR 20,422 million.
Operating profit grew 5 percent to SR 8,187 million.
EBITDA for the third quarter increased 22 percent to SR 4,975 million.
EBITDA for nine months rose 3.5 percent to SR 12,912 million.
Net profit for the third quarter grew 73 percent to SR 3,386 million.
During the 9 months, net profit decreased 8 percent to SR 6,364 million. The decrease in net profit for the 9 months was due to the booking of one-time, non-recurring and non-cash charge of SR 1,104m resulting from fair valuation of STC’s investments in Asia (Aircel and Axis) during the 1st half of 2013, the booking of unrealized FX losses of SR 929 million due to the depreciation of Turkish Lira, Indian Rupee and Indonesian Rupiah.
Domestic revenue during 9 months increased 3 percent. This was mainly due to the growth in business sector services revenues and broadband (fixed & wireless) services revenues.
Revenue from international subsidiaries rose 25 percent.
Aircel India has made a positive EBITDA during the third quarter.
Enterprise business revenues increased 16 percent during the quarter.
This was primarily driven by 35 percent increase in business sector postpaid mobile revenues, 4 percent surge in fixed line revenues and 19 percent increase in data circuits services revenues. Data circuits subscribers rose 6 percent. Business fixed line subscribers rose 15 percent.