This is an update of STC's activities, covering mobile, fixed broadband, pay TV, operator initiatives, and consumer market trends.
- Saudi Telecom Company's (STC's) total group revenues decreased by 4.3% year on year in FY17, from SAR53.6bn ($14.3bn) to SAR51.3bn ($13.7bn). This was mainly because of the decline in customer sector performance due to challenging economic conditions and the regulatory environment.
- In September 2017, the Saudi Arabian telecoms regulator, the CITC, revoked a ban on internet voice and video calling apps such as WhatsApp, Skype, and Viber in Saudi Arabia. This has significantly impacted STC's international calls revenue. However, the impact of voice decline on overall group revenue was offset by the strong growth in data revenue.
- STC's net profit increased by 14.3% year on year in FY17, from SAR8.8mn ($2.3bn) to SAR10.1mn ($2.7bn). The increase in net profit was due to improved operational efficiency and successful cost optimization initiatives.
Features and Benefits
- This report analyzes STC's financial and operational performance between 4Q16 and 4Q17.
- The report also identifies STC's key growth areas in its markets of operation.
Key questions answered
- What are STC's key operational and financial highlights over the last year?
- What are the key drivers to the group's financial growth in the future?
Table of contents
Download 1: STC Update, May 2018