Riyadh, Saudi Arabia — stc Group has posted a net profit of SAR 24.68 billion for the year 2024, an increase of 85.7 percent over the previous year. The Group said it achieved robust growth across key financial metrics. Revenues for 2024 rose 5.7 percent over the previous year to reach SAR 75.893 billion, and gross profit reached SAR 37.30 billion, an increase of 7.4 percent compared to 2023. Operating profit increased 9.6 percent over the previous year to reach SAR 14.426 billion, and Earnings before Interest, Taxes, Zakat, Depreciation and Amortization (EBITDA) grew 6.6 percent compared to the previous year to reach SAR 23.926 billion. stc will distribute SAR0.55 per share for Q4 2024, in accordance with the dividend distribution policy approved by the General Assembly, in addition to an extra cash dividend of SAR2 per share. In February 2024, stc Group signed several agreements with local partners at the Public Investment Fund’s (PIF) Private Sector Forum.
The agreements covered a range of strategic stc Group objectives, from sustainability to digital transformation.
