STC 4Q2015 earnings miss on a number of one-offs and weaker-than-expected margins; Top-line growth still resilient
Revenue – SAR13,246 million, +12% Y-o-Y, +3% Q-o-Q, +7% versus EFGe EBITDA margin – 33.7%, -1.8pp Y-o-Y, -4.8pp Q-o-Q, -6.0pp versus EFGe Net income – SAR1,950 million, -20% Y-o-Y, -16% Q-o-Q, -27% versus EFGe Saudi Telecom Co
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