Mindshare claims success at summit

Mindshare claims success at summit
Updated 27 May 2014

Mindshare claims success at summit

Mindshare claims success at summit

Mindshare, part of WPP, is a global media agency network helping clients to make collaborative and adaptive decisions across their paid, owned, and earned marketing in real-time. The agency triumphed at the Adaptive Mindset, a summit that highlighted the power of adaptability in a changing world on May 19.
Located at The Four Seasons Hotel Riyadh, the exclusive event brought in attendees from every realm of business, seeking new strategies and insights to apply the adaptive mindset to their businesses.
The panels were a star-studded affair, flush with renowned experts from a diverse range of disciplines. Former world champion athlete Colin Jackson discussed his challenging road to the top in adapting to the competition and overcoming life’s hurdles — the Secrets of Success — and Simon Woodroffe discussed entrepreneurship and adaptability through his own experiences on the BBC hit show, Dragon's Den, and with the YO! Brand.
In addition to these topics, attendees that received the exclusive invites to the Adaptive Mindset reportedly enjoyed panels that addressed the subject of adaptability, reflected through technology, the pioneering digital world, and fearless entrepreneurship.
Like the exciting panelists at the Adaptive Mindset, Mindshare's commitment to adaptability and innovation has given the agency an undeniable competitive edge. As the technology and the world around us changes, Mindshare introduces pioneering new programs and offerings that keep clients at the very forefront of the business world.
"Knowledge is truly a power; staying informed and flexible in the face of change is what consistently keeps Mindshare at the top of the industry," says Mindshare MENA CEO Samir Ayoub.


STC’s Q4 net profit jumps 15.6% to $714m

STC’s Q4 net profit jumps 15.6% to $714m
Updated 25 January 2021

STC’s Q4 net profit jumps 15.6% to $714m

STC’s Q4 net profit jumps 15.6% to $714m

STC’s net profit for the fourth quarter (Q4) of 2020 reached SR2.68 billion ($714 million), an increase of 15.6 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the net profit reached SR11.08 billion, an increase of 3.94 percent.

The revenues for Q4 reached SR15.21 billion — an increase of 14.69 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the revenues reached SR58.94 billion, an increase of 8.43 percent.

The gross profit for Q4 reached SR8.48 billion, an increase of 1.54 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the gross profit reached SR33.99 billion, an increase of 4.96 percent.

The operating profit for Q4 reached SR3.29 billion, an increase of 37.08 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the operating profit reached SR12.81 billion, an increase of 2.69 percent.

The earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for Q4 reached SR5.716 million — an increase of 14.62 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the EBITDA reached SR22.175 billion, an increase of 4.28 percent.

Nasser bin Sulaiman Al-Nasser, STC Group CEO, said the company has achieved the highest annual revenue in the past eight years. This achievement was primarily due to the increased demand for STC’s services and products, and the company’s ability to meet this demand promptly and efficiently, especially during the COVID-19 pandemic.

The STC Consumer Business Unit’s revenue has grown as a result of 27.5 percent increase in FTTH (fiber-to-the-home) and 10.6 percent increase in broadband subscribers, in addition to a 9 percent increase in data revenue during the current period compared to the previous period.

Further, the Enterprise Business Unit’s revenue has also increased during the 12-month period, by 24.6 percent, due to the company’s ability to provide the necessary support and innovative services to its customers in order to accelerate their digital infrastructure transformation. Despite the challenges faced by the Wholesale Business Unit due to the travel ban and its impact on international roaming revenues, the unit’s revenue increased during 2020 as well. Moreover, the revenue generated by STC’s subsidiaries grew by 13.8 percent during the current year, which contributed positively to achieving these results.

Al-Nasser highlighted STC’s success as a digital enabler for the Saudi G20 presidency, where STC provided critical telecommunications and digital services for all meetings as well as expanded the 5G network by 130 percent to accommodate the increase in digital services during the G20 summit.

Recently, the company launched three mega data centers in Riyadh, Jeddah and Madinah with the aim of enabling the digital transformation of the government and private sectors and strengthening the cloud infrastructure for the local digital economy in the fields of artificial intelligence, Internet of Things and cloud computing, in line with the Kingdom’s Vision 2030 goals.

Additionally, in order to enhance the infrastructure and accelerate the growth of the local digital economy, STC also signed a $500 million non-binding MoU to invest in the field of cloud services with Alibaba Cloud, the digital technology and artificial intelligence arm of the Alibaba Group.

STC Group was re-elected to the board of directors of the Global System for Mobile Communications Association (GSMA), following its win in the elections comprising the world’s 25 top telecommunications companies.

As part of STC’s strategy to support and develop the financial sector in the Kingdom, STCPay signed an agreement with Western Union to sell an equity stake of 15 percent at a value of SR750 million ($200 million), where the proceeds will be used to develop the company and support its expansion plans.