stc: KD 26.3 million net profit during the first nine months

Revenues rose to 256 million... and 474.8 million in company assets

70 million in profit before interest, taxes, depreciation and amortization (EBITDA) and customer base reached 2.4 million customers

Kuwait Telecommunications Company (stc), the leader in enabling digital transformation and providing innovative services and platforms to customers in Kuwait, announced its results for the nine-month period ended September 30, 2026, highlighting key achievements and financial and operational performance.

Mutaab Al-Darraj, Chief Executive Officer of the company, stated that Kuwait Telecommunications Company (stc) continued to achieve stable performance during the first nine months of 2026, affirming 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.

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

The company also continued to develop its business in line with rapid shifts in customer needs and the evolution 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 aligns with stc’s direction toward building more resilient businesses, while maintaining strong financial and operational foundations that support its long-term objectives.

Key Achievements

Commenting on the key achievements stc realized during the first nine months of 2026, Al-Darraj said: “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 and information and communications technology, enhancing its contributions to supporting Kuwait’s digital transformation journey, and exploring innovative solutions that meet evolving customer and business community needs.

Within the framework of these efforts, stc signed several strategic agreements with a select group of global technology providers during its participation in LEAP 2026 in Riyadh, covering areas such as artificial intelligence, automation, data analytics, cybersecurity, cloud computing, and Internet of Things (IoT) 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.

stc also successfully completed the first-of-its-kind trial in Kuwait for the AI Calling service, 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 elevate the customer experience.

Supporting Digital Transformation

stc also continued to contribute to supporting digital transformation in Kuwait through its subsidiary, the Holding Company for Electronic Portals, 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, “Sahel.” This partnership reflects 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 strengthening Kuwait’s readiness and enhancing its capacity to respond to exceptional circumstances and emergencies, stc allocated five million US dollars as a cash and in-kind contribution to the Kuwait Emergency Response Fund, by providing internet network infrastructure services supported by artificial intelligence at Kuwait International Airport.

These initiatives collectively reflect stc’s commitment to leveraging its technological capabilities, strategic partnerships, and institutional resources to support Kuwait’s development priorities, enhance the sustainability of its operations, and achieve long-term value for its customers, shareholders, and society as a whole.

Nine-Month Results

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

Revenues from the Individual sector accounted for 78% of total revenues, while the Business sector contributed 22%. stc continues to develop growth drivers in both sectors by enhancing the integration of its services and expanding the scope of solutions it offers in line with evolving market requirements and customer needs, leveraging its expertise and operational and technical capabilities to enhance 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 70 million Kuwaiti dinars during the first nine months of 2026, compared to 69.2 million dinars in the same period last year, supported by the efforts of teams in enhancing operational efficiency and improving the cost structure.

Net profit amounted to 26.3 million Kuwaiti dinars (earnings per share of 26 fils), representing a growth of 1.8% compared to 25.8 million dinars (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 and prioritizing its investments in line 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.

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 said: “Total assets of the company reached 474.8 million Kuwaiti dinars by the end of the first nine months of 2026, while total shareholders’ equity amounted to 228 million dinars, reflecting the strength of the financial position and the stability of the company’s capital structure.

Financial Results for the First Nine Months

• Revenues: 256 million Kuwaiti dinars

• EBITDA: 70 million Kuwaiti dinars

• Net profit: 26.3 million Kuwaiti dinars

• Earnings per share: 26 fils

• Total assets: 474.8 million Kuwaiti dinars

• Shareholders’ equity: 228 million Kuwaiti dinars

• Book value per share: 228 fils

• Customer base: 2.4 million customers

Future Strategy

As it continues to implement its strategy, stc aims to develop its business, explore new areas for expansion, and diversify revenue streams, leveraging its expertise in the telecommunications sector and its capabilities in digital solutions and enterprise services. This approach will enhance long-term growth prospects and strengthen its ability to deliver sustainable value to its shareholders.

Looking ahead, stc will focus on priorities that support business growth and enhance competitiveness, capitalizing on its digital and technological capabilities while developing the skills of its workforce to keep pace with the 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 continuously deliver value to all stakeholders.