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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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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.”‎

Business

CAPT sets Oct 27 for price talks on Jaber Al-Ahmad entrances project

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KUWAIT CITY, Oct 13: The Central Agency for Public Tenders (CAPT) has approved the request of the Ministry of Public Works to set Oct 27 as the date for negotiating prices with the four companies bidding for the establishment of entrances and exits at Jaber Al-Ahmad City. CAPT decided during its meeting last Wednesday. All bidders have been required to include detailed price and quantity tables in their bids. The agency excluded two companies for not meeting the conditions and specifications, and the bidding process closed on Feb 18.

The project includes the establishment of entrances and exits in two locations in Jaber Al-Ahmad Residential City — one is the southern entrance and exit linking to Jahra Road, and the other is the eastern entrance and exit linking to Doha Road. It is worth noting that the ministry has been holding negotiation sessions with the winning companies to determine the best and most cost-effective bid.

By Mohammad Ghanem Al-Seyassah/Arab Times Staff

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Companies and funds can own real estate in Kuwait under strict controls

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KUWAIT CITY, Oct 13: As part of the State’s efforts to regulate the ownership of investment and commercial real estate and ensure balance between attracting foreign investment and preserving the privacy of the local market, Decree No. 195/2025 on the controls for real estate ownership by companies, real estate funds, and investment portfolios was issued. This is in implementation of the provisions of Decree-Law No. 74/1979 regulating real estate ownership by non-Kuwaitis. Article One of the decree, which was published in ‘Kuwait Al-Youm’ recently, stipulates that subject to the provisions of the aforementioned law, companies with non-Kuwaiti partners and listed on licensed stock exchanges in Kuwait, as well as real estate funds and investment portfolios licensed by the competent authorities, may own real estate within the country, subject to specific controls. The decree indicates that one of the basic conditions is that the purpose of the company, fund or portfolio must include dealing in real estate.

It prohibits any form of dealing in real estate, plots or land designated for private housing in any location or within any project, in a move aimed at protecting the residential character and preventing speculation in this vital sector. Article Two of the decree clarifies that its provisions do not prejudice the right of entities subject to the supervision of the Central Bank of Kuwait or others to own real estate in accordance with the law. It affirmed that citizens of the Gulf Cooperation Council (GCC) countries shall continue to be treated the same as Kuwaitis regarding ownership of land and built property in the State of Kuwait. Article Three states that the ministers—each within their respective jurisdiction—shall be responsible for implementing the provisions of the decree, which shall take effect from the date of its publication in the official gazette.

By Marwa Al-Bahrawi Al-Seyassah/Arab Times Staff

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Factors behind the reversal of losses and profitability

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KUWAIT CITY, Oct 12: Kuwait Integrated Petroleum Industries Company (KIPIC) aims to raise its profits for fiscal 2025/2026 by increasing its sales in local and international markets, which have been robust since the beginning of the year, say reliable sources. Sources pointed out that KIPIC recovered from the losses it suffered in previous years through the growth of its net profits, which amounted to about KD52.2 million in the 2024/2025 budget. They cited five main factors behind this growth.

First is the increase in the refining capacity of Zour Refinery, which reached 615,000 barrels per day in May 2024, ranking seventh globally in terms of production quantities. They explained that the refining capacity of the refinery in the years prior to its operational opening ranged between 205,000 and 410,000 barrels per day. The second factor behind KIPIC’s profit growth over the past year is the commencement of the merger of oil companies, particularly the merger of KIPIC into the Kuwait National Petroleum Company (KNPC), to shake off the losses.

The third factor is the result of the implementation of the spending rationalization policy pursued by the CEO of KNPC, who also serves as the acting CEO of KIPIC, Wadha Al-Khatib. The KNPC spending rationalization committee implemented spending rationalization last year, achieving financial savings for KIPIC estimated at KD27 million through this approach. Sources explained that the implementation of rationalization coincided with the provision of better products. The fourth factor is the focus on stimulating KIPIC’s sales in global markets by opening new markets. In the first half of 2025, the company was able to expand its sales of sulfur and diesel, in addition to producing the best type of low-sulfur jet fuel, and then exporting all of its products that comply with international requirements.

The fifth factor is the company’s interest in digital transformation, focusing on developing all aspects related to global technologies, including artificial intelligence, as these technologies are extremely useful in detecting and anticipating errors before they occur, which contributes to stable production. Sources added that there are other important factors behind KIPIC’s profitability, such as the signing of numerous contracts with international companies specializing in smart energy, renewing contracts with the largest global platforms related to technological development in the field of oil refining, and strengthening relationships with major refining companies to mutually benefit from each other’s expertise.

By Najeh Bilal Al-Seyassah/Arab Times Staff

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