Zain KSA announced its financial results for the first nine months of 2024, achieving a turnover of SAR 7.7 billion, representing a growth of 4.5% year-on-year. Net profit for the period amounted to SAR 322 million, an increase of 33% compared to the corresponding period of 2023, excluding the result of tower sales.
This financial performance reflects Zain KSA’s strategic focus on improving customer experience and developing future technologies and 5G. The company has seen significant revenue growth in the enterprise sector and widespread adoption of the Yaqoot digital service. Additionally, it continued to see higher investment returns in adjacent markets, particularly in fintech through Tamam.
We are committed to maintaining our strong financial performance by aligning operational efficiency with strategic investment plans and effective governance within a clear strategy. This approach ensures continuous development and innovation, actively contributing to the advancement of the national telecommunications sector and meeting the aspirations of our wise leaders to build a knowledge-based digital economy that promotes the well-being of all. We are focused on creating an innovative and sustainable world while making a positive impact locally and globally, aligned with the Sustainable Development Goals and community empowerment. During the third quarter of this year, Zain KSA released its Corporate Sustainability Report, demonstrating how its sustainability strategy aligns across its operations and showcasing the tangible impact achieved, in line to the sustainable development goals of Saudi Vision 2030. The company also strengthened its commitment to empowering all segments of society by announcing a strategic partnership with the Ministry of Human Resources and Social Development to offer training and development programs for people with disabilities, as well as tailor-made employment opportunities. Remarkably, participants registered on the ministry’s platform will receive exclusive offers designed to meet their needs.
Eng. Saad bin Abdulrahman Al-Sadhan, Acting CEO, Zain KSA
Zain KSA recently moved up in the MSCI Environmental, Social and Governance (ESG) Index, achieving an improved rating at (AA), up from (A) last year. This achievement places the company in the “Leader” category in terms of ESG practices, ranking it among the 179 telecommunications companies in this global index.