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KD87.4mn stc’s revenues for the first three months ended 31 March2025 with KD 9.1mn net profit

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1 month ago

April 23, 2025

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KUWAIT CITY, Apr 23: Kuwait Telecommunications Company (stc), a world-class digital ‎leader providing innovative services and platforms to customers ‎and enabling the digital transformation in Kuwait, announced its ‎financial results for the three months period ended 31 March2025, ‎highlighting the most significant achievements as well as ‎the financial and operational performance‏.‏

The financial results for three months period31March2025‎

KD 87.4mntRevenues

KD 22.3mntEBITDA

KD 9.1mntNet Profit

‎9Kuwaiti filstEarnings per share

KD480.2mntAssets

KD 214.6mntShareholders’ equity

‎215fils per sharetBook value per share

‎2.2mn customerstCustomer base

In this regard, Eng. Muataz Abdullah Aldharrab, the company’s CEO, ‎stated: “By the grace of Allah Almighty, Kuwait Telecommunications ‎Company (stc) began the year 2025 by achieving good financial ‎results during the first quarter, further reinforcing its position ‎as a leading company in the telecommunications and ICT sector. ‎These results were reflected in the company’s operational ‎performance through the expansion of its business model and the ‎efficient management of internal operations, in line with its ‎strategy focused on quality-driven growth. stc continued to ‎strengthen its comprehensive and integrated digital and technical ‎services, enhance its infrastructure, and launch innovative ‎solutions that cater to the needs of both consumer and enterprise ‎segments. This aligns with the rapid developments in the sector ‎and is supported by the growing demand for digital services.‎

Commenting onstc’s key achievements during the first three months ‎of 2025, Eng. Muataz Aldharrab, the Company’s CEO, stated:” During ‎the first quarter of 2025, stc achieved key milestones, including ‎the enhancement of its 5G infrastructure as part of its efforts to ‎deliver an exceptional digital experience to its customers. This ‎has helped stc to provide unparalleled, high-quality products and ‎services for both individual and enterprise segments. The ‎enterprise segment has also seen progress, as stc’s subsidiaries ‎secured several projects across various sectors.‎

stc Kuwait is proud thatstc Group was ranked third among the ‎world’s strongest telecom brands in addition to its recognition ‎among the world’s top ten most valuable telecom brands, according ‎to the Brand Finance 2024 report, reflecting its digital ‎leadership and successful strategy in expansion and ‎innovation.stcalso takes pride in being the first company in ‎Kuwait to receive the ISO 37301:2021 certification for Compliance ‎Management Systems, which stands as a testament to its success in ‎fostering a culture of compliance, adhering to laws and ‎regulations, and building trust with all stakeholders, including ‎customers, shareholders, and regulators, during the first quarter ‎of this year. Furthermore, stc was recognized with the “Best ‎Telecommunications Company in Corporate Governance – Kuwait 2024” ‎award, while its subsidiary, solutions by stc, received the “Best ‎Digital Platform for Enterprise Customer Experience – My Business ‎‎– Kuwait 2024” award, highlighting the company’s excellence and ‎leadership in digital solutions and information technology.”‎

Commenting on the financial results for the period ended March 31, ‎‎2025, Eng. Muataz Aldharrab stated: “stc delivered a strong ‎financial performance during the first quarter of 2025, supported ‎by sustainable growth across various operational segments. Total ‎revenue reached KD 87.4 mn, reflecting a 5.5% increase during the ‎first three months of 2025 compared to KD 82.8 mn during the same ‎period last year. This growth was primarily driven by the rise in ‎consumer segment revenues, which accounted for 7‎‏8‏‎.3% of total ‎revenue. Meanwhile, the enterprise segment contributed to 2‎‏1‏‎.7% of ‎total revenue, supported by the ongoing efforts to enhance the ‎company’s business model, advance digital services, and provide ‎integrated technical solutions that meet the needs of businesses ‎across various industries.‎

Aldharrab added: “These results led to a 2.2% growth in ‎EBITDA,reaching KD 22.3 mn during the first three months of ‎‎2025,compared to KD 21.8 mn for the same period in 2024. This ‎growth was supported by higher revenues and improved operational ‎efficiency. ‎

Net profit reached KD 9.1 mn (EPS 9 Fils), reflecting a growth of ‎‎2.8% during the first three months of 2025, compared to KD 8.8 mn ‎‎(EPS 9 Fils) for the same period in 2024. This resilient financial ‎performance highlights the company’s success in cost management, ‎maintaining a balance between growth and future investments, and ‎capitalizing on the accelerated digital transformation in the ‎local market.‎

These results, along with the continued focus on efficiency and ‎innovation, highlight stc’s ability to enhance profitability and ‎achieve sustainable growth. It is worth noting that stc’s customer ‎base reached approximately 2.2 million customers by the end of ‎March 2025.‎

Commenting on the company’s financial position as of March 31, ‎‎2025, Aldharrab stated: “The company’s total assets reached KD ‎‎480.2 mn by the end of the first quarter of 2025, while total ‎shareholders’ equity amounted to KD 214.6 mn, reflecting the ‎strength of the company’s financial position and the stability of ‎its capital structure.‎

stc continues to maintain a strong solvency position, considered ‎among the strongest in the regional telecom sector. This enables ‎the company to continue investing in growth and expansion projects ‎without compromising its financial stability. Such a strong ‎financial position also allows the company to respond flexibly to ‎future opportunities and market shifts, while supporting its ‎expansion strategies in line with its vision for digital ‎transformation and sustainable growth, striking a balance between ‎investment-driven growth and operational returns.‎

Aldharrab Noted: “Driven by our understanding of the importance of ‎adopting a strong and comprehensive financial strategy as a key ‎pillar for success and sustainability, stc remains committed to ‎regularly reviewing and updating its financial strategy in line ‎with the company’s direction and ambitious strategic projects in ‎the coming years. This strategy supports stc’s vision to diversify ‎revenue streams, enhance the efficiency of financial resource ‎management, and ensure sustainable returns that benefit both the ‎company and its shareholders.‎

stc also maintains a continuous focus on monitoring key ‎performance indicators (KPIs), while efficiently executing its ‎operational and investment projects, leveraging its advanced ‎digital infrastructure and long-term growth plans. These efforts ‎are aligned with the company’s financial and strategic objectives, ‎further strengthening its operational efficiency and reinforcing ‎the adoption of best practices in governance and internal controls ‎to ensure business continuity and long-term excellence.”‎

Related Topics:9.1mn Ended KD87.4mn March2025 months Net Profit revenues stcs

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Trump and Putin hint at US-Russia trade revival, but business environment remains hostile

Published

17 hours ago

May 31, 2025

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Russian President Vladimir Putin holds a meeting with members of Russia’s business community at the Kremlin in Moscow, Russia on May 26. (AP)

WASHINGTON, May 31, (AP): Hundreds of foreign companies left Russia after the 2022 invasion of Ukraine, including major US firms like Coca-Cola, Nike, Starbucks, ExxonMobil and Ford Motor Co. But after more than three years of war, President Donald Trump has held out the prospect of restoring U.S.-Russia trade if there’s ever a peace settlement.

And Russian President Vladimir Putin has said foreign companies could come back under some circumstances. “Russia wants to do largescale TRADE with the United States when this catastrophic ‘bloodbath’ is over, and I agree,” Trump said in a statement after a phone call with Putin. “There is a tremendous opportunity for Russia to create massive amounts of jobs and wealth. Its potential is UNLIMITED.”

The president then shifted his tone toward Putin after heavy drone and missile attacks on Kyiv, saying Putin “has gone absolutely crazy” and threatening new sanctions. That and recent comments from Putin warning Western companies against reclaiming their former stakes seemed to reflect reality more accurately – that it’s not going to be a smooth process for businesses going back into Russia.

That’s because Russia’s business environment has massively changed since 2022. And not in ways that favor foreign companies. And with Putin escalating attacks and holding on to territory demands Ukraine likely isn’t going to accept, a peace deal seems distant indeed. Here are factors that could deter US companies from ever going back: Russian law classifies Ukraine’s allies as “unfriendly states” and imposes severe restrictions on businesses from more than 50 countries.

Those include limits on withdrawing money and equipment as well as allowing the Russian government to take control of companies deemed important. Foreign owners’ votes on boards of directors can be legally disregarded. Companies that left were required to sell their businesses for 50% or less of their assessed worth, or simply wrote them off while Kremlin-friendly business groups snapped up their assets on the cheap.

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Trump tells US steelworkers he’s going to double tariffs on foreign steel to 50%

Published

19 hours ago

May 31, 2025

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US President Donald Trump speaks to reporters in the rain after arriving on Air Force One at Joint Base Andrews, Md on May 30. (AP)

WEST MIFFLIN, Pa, May 31, (AP): US President Donald Trump on Friday told Pennsylvania steelworkers he’s doubling the tariff on steel imports to 50% to protect their industry, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods. In a post later on his Truth Social platform, he added that aluminum tariffs would also be doubled to 50%. He said both tariff hikes would go into effect Wednesday.

Trump spoke at US Steel’s Mon Valley Works-Irvin Plant in suburban Pittsburgh, where he also discussed a details-to-come deal under which Japan’s Nippon Steel will invest in the iconic American steelmaker. Trump told reporters after he arrived back in Washington that he still has to approve the deal. “I have to approve the final deal with Nippon and we haven’t seen that final deal yet, but they’ve made a very big commitment and it’s a very big investment,” he said.

Though Trump initially vowed to block the Japanese steelmaker’s bid to buy Pittsburgh-based US Steel, he reversed course and announced an agreement last week for “partial ownership” by Nippon. It’s unclear, though, if the deal his administration helped broker has been finalized or how ownership would be structured.

Nippon Steel has never said it is backing off its bid to outright buy and control US Steel as a wholly owned subsidiary, even as it increased the amount of money it promised to invest in US Steel plants and gave guarantees that it wouldn’t lay off workers or close plants as it sought federal approval of the acquisition. “We’re here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company,” Trump said as he opened an event at one of US Steel’s warehouses.

“You’re going to stay an American company, you know that, right?” As for the tariffs, Trump said doubling the levies on imported steel “will even further secure the steel industry in the US.” But such a dramatic increase could push prices even higher. Steel prices have climbed 16% since Trump became president in mid-January, according to the government’s Producer Price Index.

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2 days ago

May 29, 2025

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