stc posts KWD 17.5 million profit in the first half, up 1.3%
In this regard, CEO Eng. Mutasim Al-Darab stated, “stc recorded positive financial and operational results during the first half of 2026, reflecting the continuity of its business performance and its ability to adapt to operational changes, while continuing to focus on delivering sustainable value to shareholders and stakeholders.
Despite challenges stemming from global economic shifts and geopolitical developments in the region during the period, the company maintained its leading position and market share, relying on the effective execution of its corporate strategy and its focus on strengthening its core businesses, alongside developing new growth areas that support long-term financial and operational sustainability.
In line with its commitment to meeting the growing needs of its customers, stc continued to expand its portfolio of digital solutions and deliver innovative products and services to individuals and the business sector, capitalizing on the rapid growth in demand for digital services, 5G technologies, and artificial intelligence solutions. This enhances its readiness to seize future opportunities and keep pace with the rapid transformations in the telecommunications and information technology sector, while delivering sustainable returns to its shareholders.
Commenting on stc’s key achievements during the first six months of 2026, Al-Darab noted, “During this period, the company continued to prioritize employee safety and ensure business continuity by implementing a phased return-to-office plan following a period of remote work, ensuring a safe and healthy work environment while maintaining the highest levels of operational efficiency and uninterrupted service quality for its customers. The company also continued to invest in strengthening its digital infrastructure and leveraging advanced technologies, including artificial intelligence, cloud computing, and cybersecurity solutions, thereby enhancing its operational resilience and elevating the customer experience.
In line with its firm commitment to sustainability and environmental, social, and governance (ESG) principles, stc achieved a significant milestone by obtaining the ISO 20400:2017 certification for sustainable procurement, an international standard that reflects the integration of sustainability principles into purchasing practices and supply chain management. This achievement underscores the company’s dedication to adopting global best practices in responsible procurement, enhancing transparency, managing risks, and creating sustainable economic, environmental, and social value, thereby supporting the company’s sustainability strategy and Kuwait Vision 2035.
stc also continued to implement its corporate social responsibility initiatives, reaffirming its commitment to its role as a responsible digital partner. This included launching and executing community-focused initiatives aimed at supporting various segments of society and promoting sustainable development. Additionally, the company issued its sustainability report for the third consecutive year, highlighting its efforts and practices in the areas of environment, society, and governance, and reflecting its approach to enhancing transparency and creating sustainable value for all stakeholders, in alignment with the company’s values and vision to achieve a positive and lasting impact on society.”
Commenting on the results achieved during the first six months of 2026, Al-Durraib stated, “stc delivered strong financial performance in the first half of 2026, supported by the resilience of its operating model. Total revenues amounted to KD 168.9 million, compared to KD 174.6 million in the same period last year. This slight decline in revenues reflects the company’s continued focus on improving revenue quality by concentrating on value-added activities and higher profit margins, thereby supporting profitability sustainability and enhancing the long-term resilience of its business model.”
Individuals’ segment revenues accounted for 77% of total revenues, while the business segment contributed 23%. stc continues to implement its strategic initiatives aimed at strengthening its position as an integrated digital enabler, by expanding its services and technological solutions. These efforts support meeting evolving customer needs and enhance the company’s ability to achieve sustainable growth in a changing business environment.
Al-Durraib added, “These results led to a 1.8% growth in earnings before interest, taxes, depreciation, and amortization (EBITDA), reaching KD 46.3 million during the first six months of 2026, compared to KD 45.5 million in the same period last year. This growth was driven by the teams’ efforts to enhance operational efficiency and optimize the cost structure.”
Net profit reached KD 17.5 million (earnings per share of 18 fils), representing a 1.3% increase compared to KD 17.3 million (earnings per share of 17 fils) in the corresponding period of 2025. This performance reflects the effectiveness of the company’s approach to cost control and revenue quality enhancement, alongside the continued redirection of investments toward future growth opportunities, leveraging the accelerating digital transformation in local and regional markets.
These results underscore stc’s ability to achieve balanced and sustainable growth, supported by a focus on operational efficiency and enhancing customer value, which contributes to continued growth amid market developments. Notably, the company’s customer base reached approximately 2.3 million customers by the end of June 2026, reflecting ongoing customer confidence in the services and solutions provided.
Commenting on the company’s financial position as of June 30, 2026, Al-Durraib stated, “Total assets reached KD 476.6 million by the end of the first half of 2026, while total shareholders’ equity amounted to KD 219.2 million, reflecting the strength of the financial position and the stability of the company’s capital structure.”
Amid ongoing economic shifts and geopolitical developments in the region, stc continues to adopt a flexible financial approach based on anticipating changes and capitalizing on available market opportunities. This strategy enhances the creation of sustainable value for shareholders and supports the company’s readiness for future growth, with continuous review of financial priorities aligned with its strategy and developments in the telecommunications and information technology sectors.
stc continues to implement its investment plans at a measured pace, targeting the enhancement of its core operations and diversification of revenue streams, leveraging the synergy between financial and operational performance to boost efficiency and elevate the company’s capacity to achieve sustainable growth. The company’s strong financial center continues to enable it to expand its strategic projects and strengthen operational resilience, while maintaining the stability and sustainability of its financial performance. Furthermore, stc accelerated the integration of artificial intelligence into its operations during the year, contributing to improved business efficiency and enhanced work methodologies. The application of AI in network management, customer services, and internal operations has increased accuracy, accelerated response times, and optimized resource utilization, thereby supporting the delivery of high-quality services and generating greater value for customers and shareholders.
stc considers human capital development a central pillar of its priorities, continuing to invest in building the capabilities of its workforce and fostering a motivating work environment that supports high performance and innovation, leveraging its AI capabilities. The company also continues to strengthen its governance and internal control systems in line with best practices, creating long-term value across all aspects of its business. This enhances organizational efficiency, promotes transparency, and supports business continuity in a dynamic and rapidly evolving environment.
