Zain seeks to become the preferred service provider for the connectivity in the Middle East, as it looks to provide compelling services to local and international organizations and go beyond the provision of traditional telecommunication services. The Group continues to enhance its business portfolio in ICT and digital services to drive revenue growth, focusing on government and enterprises, Internet of Things, smart cities, cybersecurity, cloud solutions, drones, and emerging technologies as well as in gaming, entertainment and fintech. It should be noted that these two recommendations are subject to the approval of the Annual General Assembly and regulatory approvals. The total cash dividend distribution for 2021 is USD 473 million, reflecting a 77% payout ratio of earnings, one of the highest in the region.įurthermore, the Board recommended the distribution of directors’ remuneration for the total of KD 435,000 for the financial year ended December 31, 2021. This dividend follows the interim 10 fils distributed earlier in 2021, totaling 33 fils per share for the fiscal year ending 31 December, 2021. Consolidated net income reached KD 186 million (USD 616 million), up 2% and reflecting earnings per share of 43 fils (USD 0.14).Īt its meeting held on 10 February 2022, the Board of Directors of Zain Group recommended a cash dividend of 23 fils per share for the second half of 2021, subject to Annual General Assembly and statutory approvals. The Group’s financial performance for 2021, although solid on multiple fronts, nevertheless reflects the reality of the COVID-19 pandemic’s continued disruption on socioeconomic activity, and the unavoidable impact of currency devaluations in several key markets that impacted several key financial indicators.įor the full-year 2021, Zain Group generated consolidated revenue of KD 1.52 billion (USD 5.03 billion) while consolidated EBITDA for the period reached KD 628 million (USD 2.08 billion), reflecting a healthy EBITDA margin of 42%. Zain looks forward unlocking opportunities brought by the 4th Industrial revolution, establishing a strong foothold within the government and enterprise sector and providing meaningful connectivity to the communities we serve. Technology alone is not a sustainable differentiator unless there is an integrated and appropriate suite of services being provided, and Zain has been adding to this array of offerings through ongoing investment in network upgrades and digital innovation, and in employees who aspire to greater achievements. We paid attention to the customer, and throughout the year, our focus has been on opening more online channels for end-users to deal with and transact with Zain. Early investment in digital services helped us transform our operations and strategic direction, with such initiatives forming the core of our business strategy.
Throughout the pandemic, our priority remained to enhance customer experiences and align our activities with market demands and needs, adapting to new purchasing behaviors. Our 4G and 5G networks, data centers, cloud and other customer facing digital platforms are all future ready and operating at optimal levels. The Board of Directors welcomes all shareholders and affiliated parties to the annual General Assembly, and we are pleased to present the Zain Group annual report in which we highlight the financial results and important achievements of our operations and subsidiaries across the Middle East and Africa for the financial year ended December 31, 2021.Ģ021 was a successful year in terms of driving shareholder value given the Board and management’s focus on operational efficiency, significant investment in network upgrades, and meticulous execution of key elements of our sustainability-conscious 4Sight strategy that empowered Zain to provide meaningful connectivity to the communities, businesses and governments we serve.Īs we manage the negative effects of the pandemic on our operations and as economic activity across our footprint generally recovers, Zain is well prepared to exploit the multiple opportunities opening as demand for telecommunications services continues to rise by individuals and enterprises alike.
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