Acting according to a strategic plan, the company achieved consolidated earnings of 36 fils per share.
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Naser bin Hamad Al Thani:
Outstanding operational performance and the strategic plan we are implementing are behind these strong results.
• We are confident in our team's ability to achieve our strategic priorities and enhance profitability.
Abdulaziz Al-Babtain:
Our achievements at the beginning of 2025 reflect our commitment to fostering innovation and ongoing development.
• Our investment in advanced computing solutions and AI is accelerating digital transformation in alignment with Kuwait Vision 2035
Kuwait City, Kuwait: National Mobile Telecommunications Company K.S.C.P 'Ooredoo' (Ticker: OOREDOO) announced today its financial results for the quarter ended 31st March 2025:
Financial Highlights:
Quarterly Analysis
Q1 2025
Q1 2024
% change
Consolidated Revenue (KWD m)
178
170
5%
EBITDA (KWD m)
70
59
17%
EBITDA margin (%)
39%
35%
-
Net Profit attributable to NMTC (KWD m)
18
12
53%
Consolidated Customers (m)
26.3
25.4
4%
Consolidated revenue increased by 5% to reach KWD 178 million in Q1 2025, compared to KWD 170 million in Q1 2024. The increase in Revenue was supported by healthy growth in Kuwait, Tunisia, and Algeria.
Consolidated customer base increased by 4% to reach 26.3 million in Q1 2025 compared to 25.4 million in Q1 2024.
EBITDA increased by 17% in Q1 2025 to reach KWD 70 million compared to KWD 59 million in Q1 2024. Normalising the impact of the one-off bad debt provision raised in Q1 2024, the increase in EBITDA would be 8% in Q1 2025.
Net profit attributable to NMTC increase by 53% to reach KWD 18 million in Q1 2025 compared to KWD 12 million in Q1 2024. Normalising the impact of the one-off bad debt provision raised in Q1-2024, the increase in Net Profit attributable to NMTC would be 9% in Q1 2025.
The consolidated earnings per share were 36 fils in Q1 2025, compared to 24 fils earned in Q1 2024.
Sheikh Nasser Bin Hamad Bin Nasser Al Thani, Chairman of the Board of Directors commented:
'NMTC's growth momentum carried into the first quarter of 2025, achieving consolidated revenue growth of 5% year-on-year (YoY) to KWD 178 million while EBITDA rose by 17% YoY to KWD 70 million with a corresponding EBITDA margin of 39%.
The Group's results was supported by good operational performance in Kuwait, Tunisia and Algeria.
Driven by our ongoing dedication to excellence, our customer base grew by 4% YoY reaching 26.3 million customers across our network in the first quarter.
Net Profit attributable to NMTC reached KWD 18 million, marking an improvement of 53% YoY. Normalising the impact of the one-off bad debt provision raised in Q1-2024, the increase in Net Profit attributable to NMTC would be 9% YoY positioning us well for continued growth moving forward.
I remain confident in the team's capability to execute on our strategic priorities, further enhance profitability, and position NMTC on a sustainable path to deliver long-term, profitable growth.'
Review of Operations
The Group's operational performance can be summarised as follows:
Ooredoo – Kuwait
Commenting on Ooredoo Kuwait's strong financial results for the first quarter of 2025, CEO Abdulaziz Al-Babtain stated:
'Our performance at the start of 2025 reflects our unwavering commitment to innovation and continuous development, guided by an ambitious vision to enhance customer experience and enrich digital lifestyles—cementing our leadership in Kuwait's telecommunications sector.
Through the upgrade of our technological infrastructure and the delivery of integrated, cutting-edge digital solutions, we have successfully exceeded customer expectations and created a sustainable, positive impact across the industry.
Our ongoing investment in service development, customer experience, and digital transformation has led to significant milestones, including a series of prestigious global recognitions:
'Telecom Company of the Year' at the 2025 Asian Telecom Awards—for the second consecutive year
'Best HR Initiative' at the 2025 Asian Telecom Awards
Eight accolades at the Stevie Awards for innovation and digital excellence, including four Gold Awards for the revamped Ooredoo app, which redefined the digital customer experience
These honors are a testament to our leadership in innovation and our role in setting new benchmarks for telecommunications across the local and regional landscape.
As part of our commitment to promoting local content and celebrating national identity, we are proud to announce our strategic partnership with Kuwait Airways to stream the 51 digital entertainment platform on board their flights. This milestone marks a significant step in showcasing Kuwaiti culture to the world—offering a global window into our nation's rich heritage and creative talents, while positioning Kuwait as a hub for Arab media and cultural content.
Additionally, Ooredoo Kuwait proudly launched the major theatrical production Zarqoon and the Magic Lamp with world-class production standards, in celebration of Kuwait being named the Capital of Culture, Arts, and Arab Media. The production reflects our strategic direction to support the local media scene and revive children's theatre through a contemporary lens—bridging generations and passing down national values in a creative, engaging format.
Through such initiatives, we aim to empower local content creation, spotlight national talents, and strengthen Kuwaiti identity—affirming our dedication to supporting culture and the arts, while providing platforms for young voices and nurturing values of collaboration, creativity, and intergenerational connection.
As we move forward with our strategic plans, we remain focused on strengthening Ooredoo Kuwait's position as a leading provider of integrated digital solutions. I'm also pleased to share the significant progress made on our flagship infrastructure project, Fibre in Gulf (FIG), in partnership with Alcatel Submarine Networks. This vital initiative will connect GCC countries through a high-capacity submarine cable network—enhancing connectivity speed and reliability while supporting cloud providers and data centers across the region.
In parallel, we continue to invest in the advancement of cloud computing, the Internet of Things (IoT), and artificial intelligence (AI), all of which are vital in accelerating digital transformation across industries and positioning Kuwait as a regional digital hub, in line with the 'New Kuwait 2035' vision.
We remain committed to delivering innovative services that meet the evolving needs of our customers and align with their digital lifestyles—creating long-term value for both our shareholders and customers, and solidifying our role as a trusted digital partner.
With these remarkable achievements, Ooredoo Kuwait reaffirms its commitment to operational excellence, driving innovation, and enabling sustainable growth—placing our customers at the heart of everything we do, as we shape the future of connectivity in Kuwait and beyond.'
Ooredoo's customer base in Kuwait increased by 2% to reach 2.9 million customers in Q1 2025. Ooredoo Kuwait's Revenue increased by 1% to KWD 65 million in Q1 2025 compared to KWD 64 million in Q1 2024. EBITDA increased by 51% to KWD 22 million in Q1 2025 compared to KWD 15 million in Q1 2024. Q1 2024 EBITDA was impacted by a one-off bad debt provision raised in line with standard Company policy. Normalizing for the aforementioned one-off bad debt provision, EBITDA increased by 13% for the same period.
Ooredoo - Tunisia
Ooredoo's customer base in Tunisia decreased by 3% to 6.9 million customers in Q1 2025. Revenue increased by 3% to KWD 31 million in Q1 2025 compared to KWD 30 million in Q1 2024. EBITDA stood at KWD 12 million in Q1 2025.
Ooredoo – Algeria
Ooredoo Algeria's customer base increased by 7% to reach 14.5 million customers in Q1 2025. Revenue increased by 13% to KWD 63 million in Q1 2025 compared to KWD 56 million in Q1 2024. EBITDA increased by 12% to KWD 27 million in Q1 2025 compared to KWD 24 million in Q1 2024.
Ooredoo – Palestine
Customer base in Palestine increased by 6% to 1.5 million customers in Q1 2025. Revenue stood at KWD 8 million in Q1 2025. EBITDA stood at KWD 3 million in Q1 2025. The performance of Ooredoo Palestine continued to be affected by the ongoing war in Gaza and West bank.
Ooredoo - Maldives
Customer base in Maldives increased by 5% to 426 thousand customers in Q1 2025. Revenue stood at KWD 11 million in Q1 2025. EBITDA stood at KWD 6 million in Q1 2025.
About Ooredoo Kuwait (NMTC)
Commercially launched in December 1999, the Company's share price as of 31 March 2025 was KWD 1.116, giving a market valuation for Ooredoo (NMTC) of KWD 0.6 billion.
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