{"id":83527,"date":"2024-02-18T00:00:00","date_gmt":"2024-02-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/americana-solutions-by-stc-report-results-for-2023\/"},"modified":"2024-02-18T00:00:00","modified_gmt":"2024-02-18T00:00:00","slug":"americana-solutions-by-stc-report-results-for-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/18\/americana-solutions-by-stc-report-results-for-2023\/","title":{"rendered":"Americana, Solutions by STC report results for 2023"},"content":{"rendered":"

We\u2019re coasting to the end of earning season<\/strong>, friends, fear not:<\/p>\n

#1- F&B giant Americana\u2019s net income rose 0.1% <\/strong>y-o-y<\/strong> in 2023 to c. USD 259.5 mn (c. <\/strong>SAR 973 mn)<\/strong>, its earnings release (pdf)<\/a> showed. Revenues were up c. 1.5% y-o-y in the same period to USD 2.4 bn (c. SAR 9 bn) on the back of a \u201crecord gross 300 new store openings'' last year.<\/p>\n

Egypt\u2019s FX crunch + geopolitical tensions impact results: <\/strong>Americana said it \u201cdemonstrated resilient performance despite USD 106 mn impact of unfavorable FX movements, especially in Egypt, and impact on business during the fourth quarter due to recent regional geopolitical tensions\u201d.<\/p>\n

Americana\u2019s BoD has proposed a dividend of SAR 0.0154 per share for eligible <\/strong>shareholders<\/strong> for 2023, it said in a disclosure to Tadawul<\/a>. They have also proposed a one-time special dividend of SAR 0.0059 per share, it showed. A distribution date will be announced at a later date, it added.<\/p>\n

\n

\n

#2- Solutions by STC\u2019s net income rose 13.2% <\/strong>y-o-y<\/strong> to SAR 1.2 bn in 2023<\/strong>, it said in a disclosure to Tadawul<\/a> last week. Its revenues were up 25.4% y-o-y in the same period to SAR 11 bn. The tech company is 79% owned by telecom giant stc.<\/p>\n

Revenues grew last year on the back of a 25.6% increase in its <\/strong>c<\/strong>ore ICT services<\/strong>, 40% increase in IT managed and operational services, and a 4.7% increase in its digital services. <\/p>\n

The tech subsidiary has proposed a dividend of SAR 6 per share for eligible <\/strong>shareholders<\/strong> for 2023, it said in a disclosure to Tadawul<\/a>. A distribution date will be announced at a later date, it added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Americana said Egypt\u2019s FX crunch and geopolitical tensions weighed on results<\/p>\n","protected":false},"author":1,"featured_media":83528,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[1105,285,10,846],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-americana","tag-earnings-watch","tag-enterpriseam-ksa","tag-solutions-by-stc","wpautop","entry"],"acf":{"mongo_id":"e3226323-e0fd-4566-b8b8-23d78ef2d4dc","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/1576.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Americana, Solutions by STC report results for 2023","related_issue":[83508],"teaser":"Americana said Egypt\u2019s FX crunch and geopolitical tensions weighed on results","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.c20b1253-4224-406a-b2f5-c9165295a8e0.mp3"},"yoast_head":"\nAmericana, Solutions by STC report results for 2023 - 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