Zain Saudi Arabia announced its financial results for the year 2022, achieving the highest revenues in the company’s history, amounting to SR 9.1 billion ($2.42 billion), compared to SR 7.9 billion in 2021, an increase of 15%. The company also scored its highest net profit of SR 550 million ($146.7 million), with a record growth of 157% compared to its 2021 profits. The company’s board of directors has recommended the distribution of cash dividends to shareholders for the year 2022 at 5% of the nominal share value.
Commenting on the results, His Highness Prince Nayef bin Sultan bin Muhammad bin Saud Al-Kabeer, Chairman of the Board of Directors of Zain Saudi Arabia, said, “The financial results for 2022 reflect the qualitative shift in the company’s financial, operational and development performance and the qualitative and continuous impact of the company’s strategy, which was represented by enhancing the experience of customers, expanding into future technologies, as well as investing in parallel markets, while continuing to strengthen governance to ensure sustainable growth and profits.”
Meanwhile, Engineer Sultan bin Abdulaziz Al-Deghaither, CEO of KSA, said, "We were able to achieve the goals of our commitment to implement our strategy that we launched 5 years ago, which made 2022 the year of qualitative transformation in our operational and profitability journey together. We have worked to provide the best experiences."
Also read: Zain KSA’s 9-Month 2022 Results: Over 100% Growth in Net Profit, Income
Commenting on the company’s efforts in sustainable development, Engineer Al-Deghaither commented, “We at Zain Saudi Arabia were keen to confirm our commitment to the principles of sustainability through our approach to harnessing technology to serve sustainable development, and we launched a number of initiatives to confront climate change, in line with the goals of the Saudi Green Initiative and in line with the objectives of The United Nations for Sustainable Development (SDGs), and we have continued to apply the path of inclusiveness in our social practices and within the work environment of Zain Saudi Arabia.”
Zain Saudi Arabia was one of the major national companies participating in the Center for the Enhancement of Partnership with the Private Sector Program (Sharik) in the ceremony announcing the first package of the program's projects, held under the patronage and presence of His Royal Highness Prince Muhammad bin Salman bin Abdulaziz.
Also Read: Zain KSA Completes First Phase of Tower Infrastructure Sale and Leaseback
