Sales/Revenue

1,938

2,039

-4.953

2,060

-5.922

Gross Profit (Loss)

1,216

1,473

-17.447

1,351

-9.992

Operational Profit (Loss)

158

357

-55.742

210

-24.761

Net Profit (Loss) after Zakat and Tax

41

105

-60.952

36

13.888

Total Comprehensive Income

68

38

78.947

42

61.904

All figures are in (Millions) Saudi Arabia, Riyals

Total Share Holders Equity (after Deducting Minority Equity)

8,798

4,141

112.46

Profit (Loss) per Share

0.045

0.155

All figures are in (Millions) Saudi Arabia, Riyals

13

8,987

0.14

All figures are in (Millions) Saudi Arabia, Riyals

The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is

Zain KSA continues to record net profit despite the outbreak of Covid-19.

The company reported net profit of SAR 41 million in Q1 2021 compared to a net profit of SAR 105 million in Q1 2020 due to the decrease in revenue by 5 % amounting SAR 101 million due to the continuous impact of the pandemic and decrease in service rendered .

Cost of revenue has increased by SAR 157 million in this quarter compared to Q1 2020 as no provision released in this period. This has been partially absorbed by a decrease in Opex by SAR 43 million as a result of better cost management to limit the impact of the pandemic.

Finance cost decreased by SAR 139 million due to the reduction of the total debt of the company as a result of the capital restructuring concluded end of 2020

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is

Despite the decrease in revenue by SAR 123 million and the decrease in gross margin by SAR 135 million in this quarter compared to last quarter, the net profit increased by 14% to reach SAR 41 million vs SAR 36 million due to the decrease of Opex by SAR 32 million and the reduction of finance cost by SAR 57 million.

Statement of the type of external auditor's report

Unmodified conclusion

Reclassification of Comparison Items

NA

Additional Information

The accumulated deficit decreased to reach SAR 13 million as at 31-03-2021, representing 0.14 % of the company’s share capital of SAR 8,987 million. This is an improvement when compared to the accumulated deficit of SAR 54 million at year-end. This decrease is due to the net profit recorded in this quarter.