Ooredoo Posts 48 Million KD Profit in 9 Months

Consolidated revenues rose by 6 percent to reach KD 608 million for the nine-month period ended September 30, 2026, compared to KD 573 million for the same period in 2025. This revenue growth was supported by the Group’s strong operational performance.

The consolidated customer base increased by 7 percent to reach 29.1 million customers as of September 30, 2026, compared to 27.3 million customers as of September 30, 2025.

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose by 10 percent to KD 255 million for the nine-month period ended September 30, 2026, compared to KD 232 million for the same period in 2025. Excluding the financial impact of a one-time provision for doubtful debts recorded during the comparative period, the adjusted EBITDA growth rate was 8 percent year-on-year.

Net profit attributable to the company decreased by 29 percent to KD 48 million for the nine-month period ended September 30, 2026, compared to KD 68 million for the same period in 2025. This decline was primarily due to a one-time provision of KD 23.5 million following the final ruling of the Supreme Court in Algeria in June 2026 regarding a claim filed by the Central Bank of Algeria against one of its subsidiaries (Algérie Télécom). Excluding the impact of this provision in 2026 and the one-time doubtful debts provision recorded during the comparative period, adjusted net profit attributable to the company stood at KD 72 million, reflecting stable performance compared to the same period last year.

Consolidated earnings per share amounted to 97 fils for the nine-month period ended September 30, 2026, compared to 136 fils for the same period in 2025. This decrease was primarily attributed to the same impact mentioned above.

Sheikh Nasser bin Hamad Al Thani, Chairman of the Board, stated: “The results of the first nine months of 2026 reflected the strength of Ooredoo Kuwait Group’s business operations and the advantages provided by our wide geographic footprint. We achieved strong Group-level performance, with consolidated revenues rising by 6 percent year-on-year to KD 608 million, and EBITDA increasing by 10 percent to KD 255 million. This growth was reflected in an improved EBITDA margin, which reached 42 percent, while our customer base grew to 29.1 million customers, an increase of 7 percent compared to the previous year, reflecting strong demand across our various markets.”

He added: “These results were driven by strong operational performance in several markets, particularly Algeria, Tunisia, and Palestine. In Kuwait, challenges related to device availability continued to impact commercial performance, affecting revenue growth; however, the company maintained strong profitability levels thanks to improvements in the revenue mix. Net profit attributable to shareholders was also affected by a non-recurring provision related to an old legal case in Algeria. Excluding the impact of this provision, the Group’s adjusted net profit reached KD 72 million, underscoring the robustness and stability of our core business.”

He continued: “As we look ahead to the next phase, our priorities remain clear and well-defined. We will continue to develop our products and services, strengthen our digital and network capabilities, and maintain a disciplined approach to cost and investment management. Based on strong operational foundations and a clear strategic plan, we hold a robust position that enables us to sustain strong performance and maximize long-term value for our shareholders, customers, and the communities we serve.”

For his part, Abdulaziz Al-Babtain, CEO of Ooredoo Kuwait, said: “The results for the first nine months of 2026 underscore the strength of the company’s foundations and its ability to deliver solid operational performance amid regional shifts and sector-wide challenges. The improvement in operating profitability reflects the effectiveness of our strategy in enhancing efficiency, improving revenue quality, and managing resources and investments with discipline, thereby supporting business sustainability and strengthening the value we create for our shareholders.”

He added: “Ooredoo continues to consolidate its leadership position in Kuwait’s technology and telecommunications sector, backed by strategic investments in digital infrastructure, advanced technical capabilities, and institutional expertise aligned with the demands of the coming phase. Our achievements in network development and enhanced digital capabilities have built a strong foundation that enables us to lead the sector’s transformations and contribute to shaping its development trajectory.”

He further stated: “Technological advancement is a central pillar of our investment and operational decisions. We continue to enhance the use of artificial intelligence, data analytics, and automation to boost productivity and operational efficiency, and to accelerate our responsiveness to changes. These capabilities provide a competitive depth that reinforces Ooredoo’s position as a leading technology company and prepares our business for a new phase of growth driven by innovation and value creation.”

He continued: “Our strategy is built on efficiently managing the present and steadily laying the foundations for the future, by directing investments toward areas with long-term impact, developing human capital, and strengthening the integration of technology and organizational performance. This approach forms the basis for sustaining our competitive advantage and our ability to turn rapid challenges into opportunities that support the company’s growth and resilience.”

Al-Babtain concluded: “Our leadership is tied to a national responsibility we are proud to uphold, namely supporting digital transformation and enhancing Kuwait’s competitiveness. Advanced infrastructure, investment in national talent, and the expansion of strategic partnerships are fundamental pillars for a more diversified and productive economy, and they affirm Ooredoo’s role as a key partner in achieving the objectives of Kuwait Vision 2035. We continue to execute our priorities with confidence and discipline, leveraging the strength of our business and the clarity of our strategic direction. Our focus will remain on consolidating the company’s leadership in Kuwait’s technology sector, achieving sustainable growth based on innovation and efficiency, and enhancing long-term value for our shareholders and the national economy.”

The Ooredoo Kuwait customer base declined by 4 percent to 2.8 million customers as of September 30, 2026. Revenues also fell by 4 percent to KD 196 million for the nine-month period ended September 30, 2026, compared to KD 204 million for the same period in 2025. This was primarily due to a drop in device sales resulting from shipment delays caused by regional geopolitical developments and the ensuing supply chain disruptions. Nevertheless, earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 12 percent to KD 73 million, compared to KD 65 million for the same period in 2025.

EBITDA for the comparative period was impacted by a one-time provision for doubtful debts, in line with the company’s policy. Excluding the effect of this provision, adjusted EBITDA was up 6 percent year-on-year.

The Ooredoo Tunisia customer base increased by 1 percent to 7.5 million customers as of September 30, 2026. Revenues rose by 11 percent to KD 119 million for the nine-month period ended September 30, 2026, compared to KD 107 million for the same period in 2025. EBITDA grew by 12 percent to KD 51 million, compared to KD 45 million for the same period in 2025.

The Ooredoo Algeria customer base increased by 12 percent to 16.8 million customers as of September 30, 2026. Revenues rose by 13 percent to KD 233 million for the nine-month period ended September 30, 2026, compared to KD 205 million for the same period in 2025. EBITDA increased by 7 percent to KD 101 million, compared to KD 94 million for the same period in 2025.

The customer base in Palestine declined by 1 percent to 1.5 million customers as of September 30, 2026. Revenues rose by 16 percent to KD 28 million for the nine-month period ended September 30, 2026, compared to KD 24 million for the same period in 2025. EBITDA increased by 25 percent to KD 12 million, compared to KD 9 million for the same period in 2025.

The Ooredoo Maldives customer base grew by 5 percent to 443,000 customers as of September 30, 2026. Revenues rose by 2 percent to KD 33 million for the nine-month period ended September 30, 2026. EBITDA increased by 3 percent to KD 19 million, compared to KD 18 million for the same period in 2025.