Riyadh Newspaper | 45% growth in Zain Saudi Arabia’s profits

Zain Saudi Arabia maintained its profit growth during the third quarter of 2021, recording 60 million riyals, compared to 42 million riyals for the second quarter of the same year, achieving a growth in profits of 45%. The company’s revenues during the third quarter of 2021 recorded a growth of 4%, compared to the second quarter of the same year, to reach 1,984 million riyals.

These results reflect the company’s ability to face the severe repercussions imposed by the Corona pandemic and affecting various business sectors, in addition to the restrictions that were applied during the same period to the Hajj and Umrah season, according to the health requirements to confront the pandemic. It also reflects the company’s stable financial and operational performance, and its commitment to its strategy to enhance qualitative investments in innovation and financial efficiency, enhance the quality of services and achieve added value for its customers and investors.

Commenting on the financial results, Eng. Sultan bin Abdulaziz Al-Deghaither, CEO of Zain Saudi Arabia, said, “The company is continuing to realize its ambitions to become a leading provider of digital services that keeps pace with current requirements and future technologies, and confirms the company’s new growth path after achieving retained profits. At Zain Saudi Arabia, we continue to achieve profitability for the thirteenth consecutive quarter, which reflects the company’s ability to implement effective and highly efficient operational and financial management, fulfill our obligations to our shareholders, and provide services and products that meet the aspirations of our individual and business customers.” Al-Deghaither continued, “We are committed to contributing to the realization of the aspirations of our beloved country and the directions of our wise leadership, represented in the Kingdom’s Vision 2030, especially in terms of achieving comprehensive digital transformation and enhancing the Kingdom’s competitive position at the global level, specifically in the telecommunications and digital services sector, and improving the quality of life.”

He added: “We will continue to lead in modern technologies, so that Zain Saudi Arabia will become the preferred choice for digital services in the Kingdom and the most innovative, as our network coverage of the fifth generation (5G) has reached 51 cities.” He stressed that “Zain Saudi Arabia will continue its expansion plans by pumping additional qualitative investments, with a focus on the vertical expansion of services sectors based on fifth generation technologies, which have become the vital artery for many sectors, and enable economic growth and achieve sustainability, especially in the sectors of the Internet of Things, artificial intelligence and cloud computing. and big data.

The Communications and Information Technology Commission had recently revealed that Zain Saudi Arabia topped the fifth generation (5G) speeds in the city of Riyadh, and also occupied the first place in the fifth generation (5G) coverage in Riyadh.

It is worth noting that Zain Saudi Arabia launched its campaign to recycle e-waste with the “Recycling Civil Environment” company (Tadweer), as part of the company’s commitment to its approach to implementing institutional and societal sustainability and achieving maximum cooperation with the goals of the United Nations Program and the aspirations of the Kingdom’s Vision 2030 in improving the quality of life and environmental protection, in line with the “Green Saudi Arabia” and “Green Middle East” initiatives.

On the other hand, Zain Saudi Arabia continues to enhance its role at the level of corporate sustainability, as it entered into a strategic partnership with the “Youth Empowerment Association” (Mentor Saudi) to launch meaningful programs and effective initiatives to develop youth life skills and professional abilities, encourage creativity and innovation, and promote Their participation in various fields of social work and human development.

Zain Saudi Arabia has also achieved remarkable distinction in many indicators related to the telecommunications, information technology and services sector, by being the best provider of home packages, which enabled it to win global, regional and local awards. Ookla, the global owner of Speedtest, announced Specialized in measuring internet speeds globally, Zain Saudi Arabia won the award for the fastest home internet in the Kingdom for the third time in a row, for the first half of 2021.

And it excelled with the best fifth-generation (5G) network and data performance in the capital, Riyadh, according to the umlaut global report issued this year, which contributed to Riyadh becoming the fastest among the capitals of the world at the level of fifth-generation (5G) speeds, ahead of capitals such as Tokyo and Dublin.

 
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