stc Achieves 26.3 Million Dinars in Net Profit in 9 Months

Kuwait Telecommunications Company (stc) announced its results for the nine-month period ended September 30, 2026, highlighting key achievements and financial and operational performance. In this regard, Eng. Moataz Al-Darab, the Company’s Chief Executive Officer, stated: “Kuwait Telecommunications Company (stc) continued to deliver stable performance during the first nine months of 2026, demonstrating its ability to maintain business stability and enhance operational efficiency, thereby supporting the Company’s path toward sustainable growth and strengthening added value for shareholders and stakeholders.”

The performance achieved by stc during the period reflects its success in implementing strategic priorities, focusing on operational efficiency, strengthening its business framework, and maintaining service quality and customer experience, while capitalizing on opportunities available in Kuwait’s telecommunications and information technology market.

Commenting on the results achieved during the first nine months of 2026, Al-Darab said: “stc achieved solid financial results during the first nine months of 2026, supported by the flexibility of its operational model. Total revenues reached KD 256 million during the first nine months of the year, representing a 0.1% growth compared to KD 255.7 million in the same period last year, driven by growth in certain revenue sources within the Individual and Business sectors. Individual sector revenues accounted for 78% of total revenues, while the Business sector contributed 22%. stc continues to develop growth engines in both sectors by enhancing service integration and expanding the range of solutions offered in line with evolving market requirements and customer needs, leveraging its operational and technical expertise to enhance expansion opportunities in high-value-added sectors and diversify revenue sources in the long term.”

Al-Darab added: “These results led to a 1.1% growth in earnings before interest, taxes, depreciation, and amortization (EBITDA), reaching KD 70 million during the first nine months of 2026, compared to KD 69.2 million in the same period last year, supported by the efforts of the workforce in enhancing operational efficiency and improving the cost structure.”

Net profit reached KD 26.3 million (earnings per share of 26 fils), representing a 1.8% growth compared to KD 25.8 million (earnings per share of 26 fils) in the corresponding period of 2025. The financial and operational performance during the period reflects stc’s approach to managing its resources and prioritizing investments in line with business needs and market trends, achieving a balance between operational requirements and capital expenditure to support financial performance stability and the Company’s ability to continue implementing its strategic plans.

It is worth noting that stc’s customer base reached approximately 2.4 million customers by the end of September 2026, reflecting continued customer confidence in the services and solutions provided by the Company.

Commenting on the Company’s financial position as of September 30, 2026, Al-Darab said: “Total assets of the Company reached KD 474.8 million by the end of the first nine months of 2026, while total shareholders’ equity stood at KD 228 million, reflecting the strength of the financial position and the stability of the Company’s capital structure.”

Business Development

The Company continued to develop its business in line with rapid shifts in customer needs and the advancement of digitalization, alongside adopting artificial intelligence in operational processes and customer-available services, and exploring new revenue sources while strengthening its presence in telecommunications, digital solutions, and the business sector.

This comes within the framework of stc’s strategy to build more resilient operations while maintaining strong financial and operational foundations that support its long-term objectives.

Commenting on stc’s key achievements during the first nine months of 2026, Al-Darraj stated, “In alignment with Kuwait Vision 2035, stc continued during the third quarter of 2026 to implement its strategic priorities through initiatives aimed at expanding its capabilities in digital solutions and information and communications technology (ICT), enhancing its contributions to supporting Kuwait’s digital transformation journey, and exploring innovative solutions that meet the evolving needs of customers and the business community.”

In this context, stc signed several strategic agreements with a select group of global technology providers during its participation in LEAP 2026 in Riyadh. These agreements covered areas such as artificial intelligence (AI), automation, data analytics, cybersecurity, cloud computing, and Internet of Things (IoT) connectivity solutions. These partnerships contribute to developing the portfolio of solutions offered to the business sector and enhancing the company’s ability to meet the changing technical requirements of businesses and government entities in Kuwait.

stc also successfully completed the first-of-its-kind trial in Kuwait for the AI Calling service, an AI-powered service that enables real-time voice translation between Arabic and English, reflecting the company’s efforts to explore advanced communication technologies and identify new opportunities to elevate the customer experience.

stc continued to support Kuwait’s digital transformation through its subsidiary, the Electronic Gateway Holding Company, by signing a memorandum of understanding with the Ministry of Transport to support the development and launch of additional digital government services via the unified government application for electronic services, “Sahl.”

This partnership highlights the importance of public-private collaboration in developing digital government services, streamlining procedures, and enhancing the experience of citizens and residents through integrated technological solutions.

As a national initiative aimed at strengthening Kuwait’s readiness and enhancing its capacity to respond to exceptional circumstances and emergencies, stc allocated US$5 million in cash and in-kind contributions to the Kuwait Emergency Response Fund, by providing AI-enabled internet network infrastructure services at Kuwait International Airport.

Collectively, these initiatives reflect stc’s commitment to leveraging its technological capabilities, strategic partnerships, and institutional resources to support Kuwait’s development priorities, enhance the sustainability of its operations, and deliver long-term value to its customers, shareholders, and society as a whole. As it continues to execute its strategy, stc looks forward to expanding its business, exploring new areas for growth, and diversifying revenue streams, drawing on its expertise in the telecommunications sector and its capabilities in digital solutions and the business sector, thereby strengthening long-term growth prospects and its ability to deliver sustainable value to its shareholders.

Looking ahead, stc will focus on priorities that support business growth and enhance competitiveness, leveraging its digital and technological capabilities, alongside developing its workforce’s skills to keep pace with the rapid transformations in the telecommunications and ICT sectors.

The company also maintains its commitment to good governance, sustainability, and corporate social responsibility practices, thereby strengthening its resilience and ability to deliver continuous value to various stakeholders.