STC powers G20 Summit media center with 5G network

STC powers G20 Summit media center with 5G network
Ministry officials on Saturday visited STC’s pavilion at the International Media Center of the G20 Leaders’ Summit 2020. The event ran from Nov. 21 to 22.
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Updated 24 November 2020

STC powers G20 Summit media center with 5G network

STC powers G20 Summit media center with 5G network

As part of its partnership with the G20 Saudi Secretariat, STC Group, the digital enabler of the Kingdom’s agenda for the G20 Leaders’ Summit 2020, provided its 5G services to the media center responsible for covering the summit activities. In addition, the Saudi telecom operator supported all sites dedicated for hosting the summit’s virtual meetings, with technologies that enabled digital services throughout all the G20 Summit meetings held under the presidency of the Kingdom.

At the International Media Center, STC set up the “This is Saudi Arabia” platform. Among its aims was the rediscovery of Saudi Arabia through a new perspective, highlighting tourist sites and national heritage in a technologically innovative manner and providing media professionals covering the summit with information on the Kingdom’s touristic offerings.

Majid Al-Qasabi, minister of commerce and investment and acting minister of media, visited STC’s pavilion at the International Media Center, where he was briefed on the telecom giant’s role in supporting the facility and providing technical services to participating media professionals.

Dr. Fahd Al-Tunsi, secretary-general of the G20 Saudi Secretariat, said that he valued the significant role and efforts exerted by the Ministry of Communications and Information Technology and its partner — the STC Group — during the Kingdom’s G20 presidency year, adding that such efforts have led to positive results for all stakeholders.  

The company provided more than 11 high-speed sites, covering all areas with wireless networks to serve the digital requirements of the virtual meetings and conferences. In addition, STC provided its logistic and technical services required to ensure the success of this event.   

STC Group CEO Nasser Sulaiman Al-Nasser said: “As a digital enabler, we take pride in our cooperation with the G20 Saudi presidency at this important time for the Kingdom, and we look forward to providing all services to enable realizing the objectives of this cooperation during the Saudi G20 presidency year.”

He added that the success of the virtual summit in the Kingdom is “an incentive for us in the telecommunications and information technology sector to move forward in the digital transformation journey of the Kingdom.”

“We are proud of the achievements of our country, and we are keen to implement our strategy in supporting investment infrastructure, as well as offering all smart solutions and all capabilities to keep pace with the national requirements and new global developments,” Al-Nasser added.


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.