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Al Bawaba
15 hours ago
- Al Bawaba
KD 174.6 mn stc's revenues for the six months ended 30 June 2025 with KD 17.3 mn net profit
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 six months period ended 30 June 2025, highlighting the most significant achievements as well as the financial and operational performance. In this regard, Eng. Muataz Abdullah Aldharrab, the company's CEO, stated: 'By the grace of Allah, Kuwait Telecommunications Company (stc) delivered strong operational and financial results during the first half of 2025, reflecting the strength of its strategic plan focused on quality growth, operational efficiency, and the flexibility of its business model. As part of its efforts to expand market share, stc continued to roll out advanced and innovative solutions that cater to the needs of both individual and enterprise customers. The company is also enhancing its technical capabilities, aligning with the increasing demand for digital services and reaffirming its commitment to delivering sustainable and added value to all customer segments." Commenting on stc's key achievements during the first six months of 2025, Eng. Aldharrab, stated:' The second quarter of 2025 marked a new phase of progress and excellence for stc, reflected in a series of high-quality milestones that reflect the company's ambitious vision and strong commitment to providing the best-in-class digital services and products. In this context, it is worth highlighting that Kuwait stands at the forefront of global innovation as one of the first countries to adopt 5G Advanced in June 2025, representing a key step toward upgrading the digital infrastructure. This reaffirms Kuwait's leadership in next-generation technologies and solidifying its status as a premier digital hub in the region. Consequently, stc launched its 5G advanced network to provide an exceptional digital experience, in line with its ongoing commitment to supporting Kuwait Vision 2035 through more precise connectivity, faster speeds, and smarter networks. While 5G Advanced represents the evolution of 5G technology which is poised to transform the digital experience for both individuals and businesses, this cutting-edge advancement will offer users enhanced capabilities to improve their operations and online activities, paving the way for the widespread adoption of intelligent solutions across multiple industries. As part of its efforts to strengthen its market position and enhance institutional performance within a framework of effective governance and social responsibility, stc obtained the ISO 45001:2018 certification for implementing international standards in occupational health and safety management. This achievement affirms the company's commitment to providing a safe and healthy work environment for its employees and ensuring operational efficiency at the highest global standards. Additionally, during the second quarter, stc launched the third edition of its flagship accelerator program 'inspireU,' designed to support tech startups and small and medium-sized enterprises (SMEs) in Kuwait. The program aims to empower them to reach new levels of growth and innovation, in line with stc's strategic framework that focuses on enabling entrepreneurs to enhance digital innovation and business growth in the region." Commenting on the financial results for the period ended June 30, 2025, Eng. Muataz Aldharrab stated: "stc delivered strong financial performance during the first half of 2025, supported by sustainable growth across its operating segments. Total revenue reached KD 174.6 million during the first half of 2025, representing a growth of 5.2% compared to KD 166.0 million during the same period last year. This growth was primarily driven by the rise in the consumer segment revenues, which accounted for 77% of total revenue. Meanwhile, the enterprise segment contributed to 23% of total revenue, supported by ongoing efforts to enhance the company's business model, digital services, and provide integrated technological solutions that meet the needs of companies across various industries." Aldharrab added: "These results led to an increase in EBITDA by 5.7%, reaching KD 45.5 million during the first half of 2025, compared to KD 43.1 million in the same period of 2024, driven by higher revenues and improved operational efficiency. Net profit amounted to KD 17.3 million (earnings per share of 17 fils) during the first half of 2025, representing a growth of 2.7%, compared to KD 16.9 million (earnings per share of 17 fils) during the same period in 2024. This resilient financial performance reflects the company's success in cost management, balancing growth with future investments, and capitalizing on the accelerated digital transformation in the local market. Along with the continued focus on efficiency and innovation, the solid results highlight stc's ability to enhance profitability and achieve sustainable growth. It is also worth noting that stc's customer base reached approximately 2.2 million by the end of June 2025." Commenting on the company's financial position as of June 30, 2025, Aldharrab stated: "The company's total assets reached KD 470.4 million by the end of the first half of 2025, while total shareholders' equity stood at KD 222.9 million, reflecting a solid financial position and a stable capital structure. stc continues to maintain strong financial solvency, ranking among the best in the telecom sector across the region. This enables the company to pursue growth and expansion projects without compromising financial stability. The strength of stc's financial position allows it 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. Through this approach, stc aims to diversify its revenue streams, enhance cost and resource management efficiency, and generate sustainable and rewarding returns for its shareholders. The company is also committed to closely monitoring and analyzing key performance indicators, while executing its operational and investment initiatives with high efficiency, relying on its advanced digital infrastructure and well-structured long-term growth plans. These efforts reflect stc's commitment to upholding the highest standards of governance and internal control, fostering a culture of transparency and institutional excellence, and ensuring business continuity while strengthening the company's ability to achieve excellence and competitive superiority in a rapidly evolving business environment."
Al Bawaba
16 hours ago
- Al Bawaba
Ajman Bank Reports AED 266 Million in H1 2025 Profit Before Tax, Marking 14% Growth Driven by Core Performance and Operational Efficiency
His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Board of Ajman Bank, chaired the Bank's Board of Directors meeting on Tuesday to review key financial and administrative matters, and issue resolutions on commercial Bank announced a profit before tax of AED 266 million for the first half of 2025, a 14% increase compared to the same period in 2024, driven by sustained focus on core business performance, increased financing activity, and improved operational Bank delivered a Total Operating Income of AED 751 million, while net operating income reached AED 399 million. The Bank's total assets increased by 17% compared to year-end 2024 to AED 26.6 billion, supported by a 16% growth in the financing portfolio to AED 17.8 billion. Customer deposits reached AED 20 billion, up 11% year-to-date, reflecting continued growth across Consumer and Wholesale business segments. The Bank's total shareholders' equity rose to AED 3.2 billion, up 4% Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank, said: 'Ajman Bank continues to deliver consistent results, underpinned by a resilient business model and a focused growth strategy. Our performance in the first half of 2025 reflects disciplined execution and the Bank's growing role in supporting economic development and financial sector sustainability in the UAE'.Ajman Bank's capital and liquidity metrics remained strong, with a Capital Adequacy Ratio (CAR) of 17.3% and a Tier 1 Capital Ratio held firm at 16.1%, notwithstanding 17% growth in total financing portfolio. Return on Equity (ROE) improved to 15.6% (up by 29 bps), while Return on Assets (ROA) increased to 1.9% (up by 9 bps). Ajman Bank's further strengthened strong liquidity position achieved an improved Eligible Liquid Assets Ratio (ELAR) at 18% and Loans-to-Stable Resources Ratio (LSRR) at 74%.Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank, said:" Our first-half results demonstrate the strength of Ajman Bank's funding base, balance sheet, and operational model. We are focused on scaling platform productivity, improving cost-to-income performance, and diversifying access to capital. The successful launch of our co-branded POS solution, real-time settlement platform, and global Sukuk issuance all reflect growing confidence in our trajectory."On the back of proactive credit portfolio management, Asset quality continued to improve with the Non-Performing Loans (NPL) Ratio at 8.6% (down by 126 bps), 15% reduction in the aggregate of Gross Stage 2 & 3 exposure during H1 2025 and greater diversification achieved with the Real Estate Ratio reduced to 32.9% (down by 705 bps).The Bank continued to advance its digital infrastructure with targeted investment in SME onboarding platforms, merchant POS enablement, and real-time processing capabilities. These improvements are enhancing productivity, accelerating digital origination, and supporting end-to-end service automation across core May 2025, Ajman Bank successfully issued its debut USD 500 million 5-year Sukuk. The five-year issuance, listed on Nasdaq Dubai, achieved a 5.4X oversubscription, which also evidences the great trust of 100+ regional and international investors with participation of 65% and 35% allocation respectively. The Sukuk marks a strategic milestone in the Bank's funding diversification and access to international capital markets. Ajman Bank remains committed to its AED 4 billion 'Sustainable Finance' pledge by 2030 and 'Net Zero Emission' by 2050, aligning its long-term strategy with Ajman Vision 2030 and the UAE's broader sustainable growth framework.
Al Bawaba
18 hours ago
- Al Bawaba
Caparol Paints strengthens regional footprint following significant sales growth in the Middle East
Caparol Paints, a global leader in premium paint and coatings solutions, is accelerating its growth across the Middle East with a stronger focus on retail expansion, double-digit partner growth, and the launch of new product lines tailored to the Middle East. Since entering the UAE market in 1998, Caparol has steadily built its reputation as a go-to brand for high-performance, sustainable coatings, backed by German innovation and local-market solutions. Over the past 12 months, Caparol has significantly expanded its retail network across the UAE and wider region, offering professionals and homeowners greater access to its range of interior and exterior paints. This expansion follows a 35% year-on-year sales increase in 2024, supported by high uptake of its flagship products for interior and exterior paints, including CapaStone, Caparol's innovative façade solution. Designed to perform in the region's demanding climate, Caparol's product portfolio reflects its commitment to sustainable, locally relevant solutions. Manufactured in its Dubai-based facility, the range addresses the growing demand for long-lasting, climate-adapted finishes across residential and commercial projects. Its low-VOC, weather-resistant, and design-forward solutions are widely trusted by contractors, architects, and designers across the region.'The Middle East is a priority region for Caparol, and we are committed to growing our presence across the region, to serve both existing and future customers,' said Dirk Schilmöller, Managing Director Middle East, Africa & Asia. 'With the regional paints and coatings market projected to reach over USD 8.5 billion by 2035, fuelled by a booming real estate sector and rising population, the opportunity ahead is significant. We see enormous potential, not only in offering high-quality paint systems, but in long-term durability, energy efficiency and healthier indoor environments. Caparol will continue investing in innovative, high-performance solutions that meet the evolving needs of our partners and communities.'Caparol has also doubled its Exterior Insulation and Finish System (EIFS) business over the last two years, reflecting a growing regional focus on energy-efficient and thermally insulated building solutions. This reinforces the company's commitment to supporting high-performance, sustainable construction growing project portfolio in the UAE includes high-profile residential, hospitality and commercial developments. The brand has also deepened its support for industry professionals by investing in training, colour consultancy, and technical services to ensure projects are executed to the highest standard. With the UAE's continued push for sustainable urban development under Vision 2031, Caparol is reinforcing its role as a long-term partner to the region's architecture, design and construction sectors.
