Saudi Telecom Company (stc) announces its interim condensed consolidated financial results for the period ending on 31-03-2021 (Three Months)

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	15,695	13,935	12.63	15,217	3.141
Gross Profit (Loss)	8,557	8,196	4.404	8,447	1.302
Operational Profit (Loss)	3,482	3,004	15.912	3,205	8.642
Net Profit (Loss) after Zakat and Tax	2,952	2,913	1.338	2,592	13.888
Total Comprehensive Income	3,117	3,099	0.58	2,414	29.121
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	65,066	62,870	3.492
Profit (Loss) per Share	1.48	1.46
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The increase in net profit by SR 39m in the1st quarter of 2021 compared to the comparable quarter last year was attributed mainly to the following:

- The increase in revenues by SR 1,761m, while cost of revenue increased by SR 1,399m, which led to an increase in gross profit by SR 361m.

- The decrease in operating expenses by SR 116m due to the decrease in selling and marketing expenses in an amount of SR 55m and general and administration expenses by SR 95m.

On the other side:

- Other income and (expenses) in an amount of SR (126m) was booked during the current quarter as compared to SR 177m, mainly due to the booking of net other (losses) in an amount of SR (22m), as compared to net other gains in an amount of SR 431m, as a result of booking gains in the comparable quarter last year from selling the company’s direct share in Careem after completing Uber’s acquisition in an amount of SR 496m.

- Zakat and income tax increased by SR 125m.The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The increase in net profit by SR 360m in the 1st quarter of 2021 as compared to the previous quarter was attributed mainly to the following:

- The increase in revenues by SR 479m, while cost of revenue increased by SR 368m, which led to an increase in gross profit by SR 111m.

- The decrease in operating expenses by SR 166m, due to the decrease in general and administration expenses by SR 143m and depreciation and amortization by SR 66m.

- The booking of other income and (expenses) in an amount of SR (126m) during the current quarter as compared to SR (167m).Statement of the type of external auditor's report Unmodified conclusionReclassification of Comparison Items NAAdditional Information Earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for the first quarter amounted to SR 5,841m compared to SR 5,330m for the same quarter last year, with an increase of 9.59%.

For more information, please refer to the investor relations press release attached to the announcement.Attached Documents

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