stc Reports 256 Million KD Revenue in Nine Months

- The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to 70 million dinars.

- Mutaaz Al-Darab: stc’s performance reflects the efficient execution of its strategic priorities.

- The company contributes to supporting digital transformation in Kuwait.

The company’s revenues reached 256 million dinars, while EBITDA stood at approximately 70 million dinars, with net profit reaching 26.3 million dinars. The customer base totaled 2.4 million customers.

In this regard, the company’s Chief Executive Engineer, Mutaaz Al-Darab, stated: “stc continued to achieve 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.”

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

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 services, exploring new revenue sources, and strengthening its presence in telecommunications, digital solutions, and the business sector. This aligns with 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 noted: “In alignment with Kuwait Vision 2035, stc continued in 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, 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.”

Within the framework of these efforts, stc signed several strategic agreements with a select group of global technology providers during its participation in the LEAP 2026 conference in Riyadh. These agreements covered areas such as artificial intelligence, automation, data analytics, cybersecurity, cloud computing, and Internet of Things (IoT) communication solutions. He added: “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 successfully completed the first-of-its-kind trial in Kuwait for “AI Calling,” a service powered by artificial intelligence 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 contribute to supporting digital transformation in Kuwait 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 collaboration between the public and private sectors 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 enhancing Kuwait’s readiness and boosting its capacity to respond to exceptional circumstances and emergencies, stc contributed $5 million in cash and in-kind support to the Kuwait Emergency Response Fund, by providing AI-enabled internet network infrastructure services at Kuwait International Airport.

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.

Al-Darrab stated: “stc achieved strong financial results during 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.”

Individual sector revenues accounted for 78% of total revenues, while the business sector contributed 22%. stc continues to develop growth drivers in both sectors by enhancing service integration and expanding its solution offerings in line with evolving market requirements and customer needs. The company is also leveraging its expertise and operational and technical capabilities to strengthen expansion opportunities in high-value-added sectors and diversify revenue sources over the long term.

Al-Darrab added that these results led to a 1.1% growth in earnings before interest, taxes, depreciation, and amortization (EBITDA), reaching KD 70 million, compared to KD 69.2 million in the same period last year, supported by team efforts to enhance operational efficiency and optimize the cost structure.

Net profit amounted to KD 26.3 million (earnings per share of 26 fils), reflecting 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 alignment with business needs and market trends, while balancing operational requirements and capital expenditure to support financial stability and the company’s ability to continue executing its strategic plans. stc’s customer base reached approximately 2.4 million, underscoring continued customer confidence in the services and solutions provided by the company.

Al-Darrab said: “Total company assets amounted to KD 474.8 million, while total shareholders’ equity reached KD 228 million, reflecting the strength of the financial position and the stability of the company’s capital structure.”

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