Riyadh – Mubasher: Zain Saudi Arabia achieved unprecedented financial results in 2015, reaching a breakeven point at all levels of operating profits for the second and third quarters of 2015, stated Mr. Hassan Kabbani, Chief Executive Officer of Zain Saudi Arabia.
The company registered an increase in 2015 revenues at 9% year-over-year to SAR 6,741 million from SAR 6,170 million. Further, FY15 gross profits rose 23% year-on-year to SAR 3,951 million from SAR 3,223 million, recording a marginal profit of 59% for 2015 against 52% a year earlier.
FY15 earnings before interest, tax, depreciation and amortization (EBITDA) also jumped 48% to SAR 1,629 million, compared with SAR 1,100 million for 2014. Moreover, the results show that EBITDA’S marginal profits moved up to 24% from 18%.
On the other hand, FY15 operating losses shrank 73% year-over-year to SAR141million from SAR534 million, while FY15 net losses reduced 23% to SAR971 million, compared with SAR 1,269 million a year ago.
These results assure that the company continues to be the consumers’ first choices, which push Zain to constantly develop its services and to make new investments.
