stc Achieves 26.3 Million Dinars in Profits in 9 Months

In this regard, Eng. Mutaab Al-Darab, Chief Executive Officer of the company, stated: “By the grace of God, stc continued to achieve stable performance during the first nine months of 2026, demonstrating its ability to maintain operational stability and enhance operational efficiency, thereby supporting the company’s path toward sustainable growth and strengthening added value for shareholders and stakeholders.

Al-Darab said: “The performance achieved by stc during the period reflects its success in implementing its strategic priorities, through focusing on operational efficiency, strengthening its business ecosystem, and maintaining service quality and customer experience, while leveraging available opportunities in Kuwait’s telecommunications and information technology market.

He noted that the company continues 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 services, exploring new revenue streams, and strengthening its presence in telecommunications, digital solutions, and the business sector. This comes within the framework of stc’s direction toward building 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-Darab 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, information technology, and telecommunications, 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, he mentioned that 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, automation, data analytics, cybersecurity, cloud computing, and IoT-based communication 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.

He highlighted stc’s success in completing the first-of-its-kind AI Calling service in Kuwait, 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 enhance the customer experience.

Al-Darab noted that 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 electronic services application (Sahel). This partnership underscores the importance of public-private collaboration in developing digital government services, simplifying 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 five million US dollars in cash and in-kind contributions to the Kuwait Emergency Response Fund, by providing AI-enabled internet network infrastructure services at Kuwait International Airport.

He stated that these initiatives collectively reflect stc’s commitment to leveraging its technical 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 at large.

Commenting on the results achieved during the first nine months of 2026, Al-Darraj said: “stc achieved solid financial results in the first nine months of 2026, supported by the resilience of its operational model. Total revenues reached KD 256 million, representing a 0.1% growth compared to KD 255.7 million in the same period last year, driven by growth in certain revenue streams within the Individual and Business sectors.

He noted that 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 it offers in line with evolving market requirements and customer needs, while leveraging its expertise and operational and technical capabilities to strengthen expansion opportunities in high-value-added sectors and diversify revenue sources in the long term.

Al-Darraj 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 team efforts to enhance operational efficiency and improve the cost structure.

As for net profit, he reported that it 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. This reflects stc’s approach to managing and prioritizing its resources in alignment with its business needs and market trends, while balancing operational requirements and capital expenditure to support financial performance stability and the company’s ability to continue implementing its strategic plans.

He pointed out 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-Darraj stated: “The company’s total assets 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.

He continued: “As it continues to implement its strategy, stc aims to develop its business, explore new areas for expansion, and diversify revenue sources, leveraging its expertise in the telecommunications sector and its capabilities in digital solutions and the business sector, thereby enhancing long-term growth prospects and its ability to deliver sustainable value to its shareholders.

Looking ahead, he emphasized that stc will focus on priorities that support business growth and enhance competitiveness, leveraging its digital and technical capabilities, alongside developing its workforce’s competencies to keep pace with the rapid transformations in the telecommunications and information technology sectors. The company also maintains its commitment to good governance practices, sustainability, and corporate social responsibility, thereby strengthening its resilience and ability to deliver continuous value to various stakeholders.”