29/04/2026 03:45 AST
Kuwait Telecommunications Company (stc) a world-class digital leader providing innovative services and platforms to customers and enabling the digital transformation in Kuwait, announced its financial results for the three months period ended March 31, 2026, highlighting the most significant achievements as well as the financial and operational performance.
In this regard, Eng Muataz Abdullah Aldharrab, the company's CEO, stated: "With the grace of Allah, Kuwait Telecommunications Company (stc) continued to deliver positive financial and operational performance during the first quarter of 2026, supported by its updated corporate strategy, which focuses on strengthening the company's core operations and accelerating growth in new areas that contribute to sustainable value creation. Despite the challenges witnessed during this period, related to global economic changes and the recent geopolitical tensions in the region, stc successfully reinforced its leading position and maintained its market share within a highly competitive sector.
This performance underscores stc's ability to adapt and continue delivering positive results that reflect the strength of its business model and the efficiency of its strategic plans, which aim to generate added value and sustainable returns for its shareholders while sustaining its operations. stc has also been keen to expand its portfolio of integrated digital solutions and innovative products to meet the growing needs of both individual and enterprise customers amid the current situation. stc leverages the accelerating demand for digital services, advanced 5G technologies, and artificial intelligence, while confidently and proactively keeping pace with the rapid transformations in the business landscape."
Commenting on stc's key achievements during the first three months of 2026, Eng Aldharrab, stated: "Amid the evolving challenges impacting various sectors, stc reaffirmed its strong commitment to supporting its customers and partners by ensuring business continuity without any compromise in service quality. This has been achieved through leveraging advanced technologies such as artificial intelligence, cloud computing and cybersecurity solutions, enhancing operational resilience, enabling remote working, providing rapid technical support, and ensuring uninterrupted services through proactive measures to stand by both individual and enterprise customers.
Through the ongoing geopolitical tensions and surrounding challenges, stc continued to execute its projects without interruption, maintaining strong business momentum and operational efficiency, supported by its robust infrastructure and specialized workforce. The company did not deviate from its strategic trajectory, as it continued through its subsidiaries to sign strategic agreements with enterprise customers and proceeded with the execution and delivery of projects in line with approved timelines. This reflects stc's strong commitment to supporting its partners and enabling them to ensure business continuity efficiently, further demonstrating its ability to operate with high flexibility and operational stability under various conditions. stc remains committed to helping organizations overcome challenges and emerge stronger, more resilient and better prepared for the future.
stc also continued to maintain and strengthen its corporate social responsibility initiatives during this period, reaffirming its commitment to the community through a range of programs. These included providing free Internet hours to support remote working and distance learning, organizing blood donation campaigns in line with stc's commitment to its role in the community and offering free roaming services to enterprise customers outside Kuwait. In addition, stc ensured the uninterrupted availability of digital payment services, reflecting its role as an active digital partner in supporting the sustainability of essential services for the community.
Notably, stc collaborated with Kuwait Airways to support the operation of repatriation flights for citizens and participated in national awareness campaigns to express appreciation for frontline workers. The company also worked with various institutions to support and contribute to frontline efforts, reaffirming its commitment to standing alongside the community under all circumstances.
Commenting on the financial results for the period ended March 31, 2026, Eng Muataz Aldharrab stated: "stc achieved good financial performance during the first quarter of 2026, supported by its flexible operating model. Total revenues reached KD 85.3 million during the first three months of 2026, compared to KD 87.4 million in the period last year. This slight decline reflects a shift in the revenue mix toward better-margin activities, in line with the company's strategy to enhance revenue quality and ensure sustainable profitability.
The consumer segment accounted for 75 percent of total revenues, while the enterprise segment contributed 25 percent of total revenues. Furthermore, stc continues its efforts to enhance its business model by strengthening digital services and offering integrated technological solutions that meet the needs of various sectors, thereby supporting the diversification of revenue streams, enhancing sustainable growth and reinforcing the company's ability to adapt to evolving market dynamics.
Aldharrab added: "These results led to a 3.5 percent increase in EBITDA, reaching KD 23.1 million during the first three months of 2026, compared to KD 22.3 million for the same period in 2025. This improvement was supported by the efforts of its teams to enhance operational efficiency and optimize the cost structure.
Net profit amounted to KD 9.2 million (earnings per share of 9 fils), reflecting a growth rate of 1.6 percent during the first three months of 2026, compared to KD 9.1 million (earnings per share of 9 fils) for the same period in 2025. This performance reflects the company's success in managing costs and striking a balance between improving revenue quality and continuing to invest in future growth opportunities, while also capitalizing on the accelerating pace of digital transformation in the local market and the wider region.
Furthermore, these results, together with the company's continued focus on efficiency and innovation, highlight stc's ability to enhance profitability and achieve sustainable growth. It is worth noting that stc's customer base reached 2.3 million customers by the end of March 2026."
Commenting on the company's financial position as of March 31, 2026, Aldharrab stated: "Total assets amounted to KD 497.0 million by the end of the first quarter of 2026, while total shareholders' equity stood at KD 210.9 million, reflecting the company's strong financial position and the stability of its capital structure.
Amid the current economic uncertainty and ongoing geopolitical volatility, stc continues to steer its financial strategy towards capturing available market opportunities that contribute to creating added value and sustainable returns for its shareholders. The company also continues to review its financial priorities in alignment with its strategic direction and the evolving dynamics of the telecommunications and ICT sectors.
In line with its corporate strategy, stc's investment plans focus on strengthening its core operations and diversifying its revenue streams, leveraging the integration between its financial and operational strategies to enhance efficiency and its ability to achieve sustainable growth. The company's strong financial position enables it to support the execution of its strategic projects and adapt to market dynamics, while maintaining the sustainability of its financial performance.
stc also continues to invest in its human capital, recognizing it as one of the key pillars of its success, by developing employees' capabilities and providing a supportive work environment. It also adopts best practices in governance and internal control, thereby enhancing transparency and institutional efficiency and supporting business continuity in a changing operating environment."
Kuwait Times
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