Zain Reports Net Profits of 304 Million Dinars in First Nine Months of 2026

Zain Group announced on Tuesday that it achieved net profits of 304 million Kuwaiti dinars ($990 million) during the first nine months of 2026, representing a 59 percent growth compared to the same period last year, with earnings per share of 70 fils. In a press release, the group stated that its consolidated revenues rose by 4 percent to reach 1.8 billion dinars ($5.71 billion), marking the highest level in the past 17 years, driven by strong operational performance in its core markets and continued growth in new growth sectors and its digital platforms. It added that earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 4 percent to 587 million dinars ($1.91 billion), with a profit margin of 34 percent, while its customer base grew by 3 percent to approximately 53 million customers, supported by the restoration of its network in Sudan and the expansion of Zain Iraq’s operations. The group noted that data revenues grew by 11 percent to reach $2.3 billion, accounting for about 39 percent of total revenues, while new growth sectors achieved annual growth of 30 percent, generating revenues of $759 million. It further mentioned that the nine-month financial results included gains of $501 million from the strategic investments of Zain Ventures, the group’s investment arm, which manages its investment portfolio. Regarding quarterly results, the group reported that third-quarter revenues rose by 2 percent to 615 million dinars ($2 billion), while EBITDA grew by 1 percent to 209 million dinars ($681 million), with a profit margin of 34 percent. It added that third-quarter net profits jumped 30 percent to 84 million dinars ($273 million), with earnings per share of 19 fils. The statement quoted Group Chairman Nour Al-Jassim as saying that the record financial results achieved by the group during this period reflect the strength, resilience, and diversification of its business model, as well as its ability to deliver balanced growth despite the changes and challenges facing the region, thanks to its wide geographic footprint and diversified revenue streams. Al-Jassim added that these results confirm the success of the group’s strategic vision in building a more capable institution to keep pace with rapid economic and technological transformations and enhance its readiness to capitalize on opportunities offered by the digital sector. She noted that the gains achieved by the group during this period represent a solid foundation for transitioning to a new phase of growth and strengthening its position as a key player in building the digital economy, alongside supporting the development agenda and empowering communities through expanding technological partnerships and consolidating cooperation frameworks with regulators and various stakeholders. For his part, Group Vice Chairman and CEO Badr Al-Kharafi said that the exceptional financial results achieved by the group during the first nine months of this year, which are the highest in 17 years, reflect the success of its strategic approach in building a more resilient, diversified, and adaptable business model capable of responding to changes. Al-Kharafi added that the recent period has witnessed unprecedented acceleration in economic, technological, and geopolitical transformations across the region and the world, prompting the group to reshape its business portfolio and expand its growth sources, with a focus on areas having the greatest impact on the digital economy, foremost among them artificial intelligence, cybersecurity, digital infrastructure, and cloud services.

He clarified that, despite ongoing uncertainty in regional and international markets and the resulting pressures on key sectors such as roaming, device supply chains, and the business sector in several markets, as well as the impact of exchange rate fluctuations in Sudan and Iraq, the Group continued to execute its strategy with discipline. He noted that this approach was reflected in revenue growth, improved profitability, and an enhanced contribution from digital sectors and new growth drivers, making the Group’s performance more closely tied to the strength of its operational model and the diversification of its revenue sources, and less susceptible to market volatility. Al-Kharafi indicated that data revenues rose by 11 percent to reach $2.3 billion, driven by growing demand for digital services and advanced solutions, alongside returns from continued investments in 5G and 5G-Advanced networks and digital infrastructure. (End) A.A.B