Latest news with #KIPCO
Al Bawaba
3 days ago
- Business
- Al Bawaba
stc hosts the "Future of Food and Beverage Marketing" workshop in collaboration with ordable, Snapchat, and Optimize
Kuwait Telecommunications Company – stc, a world-class digital leader providing innovative services and platforms to customers, enabling the digital transformation in Kuwait, sponsored an event titled 'The Future of F&B Marketing' as part of its strategic partnership with ordable, optimize and Snapchat to empower entrepreneurs operating within the F&B sector. The initiative included an interactive workshop delivered by Snapchat and comes under stc's 'weyak' program, which aims to support SMEs in their unique journeys to enhance and grow their two-hour workshop was held at the Chairman's Club in KIPCO Tower and welcomed over 50 entrepreneurs. The session was delivered by Snapchat's MENA region account managers, who introduced attendees to a range of the platform's marketing tools and features. Participants were given a hands-on walkthrough of how to effectively reach and engage audiences on Snapchat, with a focus on content strategy, Ad creation, and performance measurement tailored for businesses in the F&B this initiative, as well as other programs launched under the 'weyak' umbrella, stc aims to showcase its ongoing support to both SMEs and entrepreneurs in Kuwait. The Company focuses on introducing opportunities that enable SMEs to grow their operations and enhance their exposure in the market through leading platforms. The 'weyak' initiative was launched by stc with the primary focus of guiding SMEs in navigating today's competitive landscape, while introducing a range of platforms that can assist them in successfully reaching their diverse audience Al Nowaibet, Director of Public Relations and Social Media at stc, 'As part of our ongoing efforts to empower the entrepreneurial ecosystem in Kuwait, we were proud to collaborate with ordable, optimize, and Snapchat to deliver this insightful and practical session for SMEs in Kuwait. The workshop aligns with the core objectives of our 'weyak' initiative, which was designed to offer tailored programs that meet the real needs of local business owners and startups. Given the role of social media today, providing insights into how platforms like Snapchat can be strategically utilized for business growth is essential to helping entrepreneurs elevate their marketing efforts and scale their operations in a digitally driven environment.' He added, 'Supporting entrepreneurs through various programs is key to building a more digitally capable and empowered SME sector. At stc, we believe in the importance of introducing platforms for collaboration, where innovation and growth are encouraged and enabled. Having said that, supporting SMEs falls in line with stc's broader vision to drive digital transformation and contribute to the national development agenda. Through our role, stc is shaping a more inclusive economy by integrating SMEs into the digital ecosystem by fostering innovation through strategic partnerships and platforms.'
Kuwait Times
16-05-2025
- Business
- Kuwait Times
KIPCO reports net profit of KD 5.1 million for Q1 2025
KIPCO reports net profit of KD 5.1 million for Q1 2025 'We remain focused on creating greater value for our stakeholders' says company's Group CEO KUWAIT: KIPCO – Kuwait Projects Company (Holding) – announced a net profit of KD 5.1 million ($ 16.5million) for the first three months of 2025. Earnings per share for the first quarter of 2025 were 0.7fils ($0.2 cents). The decrease in KIPCO's overall net profit from KD 5.8 million ($18.8 million) reported in the first quarter of 2024 is mainly attributed to the increase in credit provisions at banking subsidiaries. In the first three months of 2025, operating profit increased 15 percent to KD 50.3 million ($163.1 million) from KD 43.7million ($141.7million) reported for the same period last year. The increase reflects the enhanced performance of our banking business, petrochemical services and logistics. In the first quarter of the year, KIPCO's total revenue from operations came to KD 383.6million ($1.24 billion), an increase of 9 percent from the KD351.8 million ($1.14billion) reported in the corresponding period of 2024. Shareholders equity went up 1.1 percent to KD 641.0million ($2.08 billion) compared to KD 633.9million ($2.06 billion) at the end of 2024. KIPCO's consolidated assets came to KD 13.3 billion ($43.1 billion) at the end of the first three months of 2025, up from the KD 13.0 billion ($42.1 billion) reported at the end of 2024. Commenting on the results, Sheikha Dana Naser Sabah Al-Ahmad Al-Sabah, KIPCO's Group Chief Executive Officer, said: 'In our recent Annual General Meeting, we underscored our commitment to achieve stable and growing positive cashflows through ensuring future sustainable dividend distributions from our businesses. The results for the first quarter of 2025 reflect KIPCO's continued efforts ensure sustainable growth through the streamlining of operations, enhancing the performance of portfolio companies and strengthening the holding company's capital structure as we continue to focus on creating greater value for our shareholders.'
Zawya
15-05-2025
- Business
- Zawya
KIPCO reports a net profit of KD 5.1mln ($16.5mln) for Q1 2025
Kuwait City: KIPCO – Kuwait Projects Company (Holding) – announced a net profit of KD 5.1 million (US$ 16.5 million) for the first three months of 2025. Earnings per share for the first quarter of 2025 were 0.7 fils (US$ 0.2 cents). The decrease in KIPCO's overall net profit from KD 5.8 million (US$ 18.8 million) reported in the first quarter of 2024 is mainly attributed to the increase in credit provisions at banking subsidiaries. In the first three months of 2025, operating profit increased 15% to KD 50.3 million (US$ 163.1 million) from KD 43.7 million (US$ 141.7 million) reported for the same period last year. The increase reflects the enhanced performance of our banking business, petrochemical services and logistics. In the first quarter of the year, KIPCO's total revenue from operations came to KD 383.6 million (US$ 1.24 billion), an increase of 9% from the KD 351.8 million (US$ 1.14 billion) reported in the corresponding period of 2024. Shareholders equity went up 1.1% to KD 641.0 million (US$ 2.08 billion) compared to KD 633.9 million (US$ 2.06 billion) at the end of 2024. KIPCO's consolidated assets came to KD 13.3 billion (US$ 43.1 billion) at the end of the first three months of 2025, up from the KD 13.0 billion (US$ 42.1 billion) reported at the end of 2024. Commenting on the results, Sheikha Dana Naser Sabah Al Ahmad Al Sabah, KIPCO's Group Chief Executive Officer, said: 'In our recent Annual General Meeting, we underscored our commitment to achieve stable and growing positive cashflows through ensuring future sustainable dividend distributions from our businesses. The results for the first quarter of 2025 reflect KIPCO's continued efforts ensure sustainable growth through the streamlining of operations, enhancing the performance of portfolio companies and strengthening the holding company's capital structure as we continue to focus on creating greater value for our shareholders.' About Kuwait Projects Company (Holding) – KIPCO Kuwait Projects Company (Holding) – KIPCO – is a holding company that invests in the Middle East and North Africa. Its strategy of acquiring, building, scaling and selling companies in the MENA region has worked successfully for 35 years. KIPCO's main business sectors are financial services, food, petrochemicals & oil services, media, real estate and education. It's financial service interests include commercial banking, asset management and investment banking. *The conversion rate used is US$1 to KD 0.30845 Further information: Eman Al Awadhi Group Senior Vice President Corporate Communications & Investor Relations Meshari Al Duhaim Senior Manager Corporate Communications & Investor Relations
Zawya
01-05-2025
- Business
- Zawya
KIPCO focuses on growth across companies and wealth creation for shareholders
Kuwait City: KIPCO – Kuwait Projects Company (Holding) – held its Annual General Assembly, chaired by the company's Vice Chairman, Sheikh Abdullah Naser Sabah Al Ahmad Al Sabah. The AGM approved all items on the agenda. KIPCO's Group Chief Executive Officer, Sheikha Dana Naser Sabah Al Ahmad Al Sabah, gave a presentation following the AGM in which she highlighted the achievements of 2024 and gave an outlook for 2025. Strategic Priorities Sheikha Dana Naser Al Sabah outlined KIPCO's strategic journey since 2022, stating: 'In 2022, we embarked on a strategic journey aimed at paving the way for sustainable growth and long-term value creation. As we focus on growth across our companies, we believe that we have positioned KIPCO as a future-ready holding company that is ready to harness synergies and identify new business opportunities.' The first of the three phases of KIPCO's strategic journey was to conduct a comprehensive assessment of KIPCO's portfolio, engagement model and capital structure. This was followed by the second phase, which is ongoing and involves targeted reforms to strengthen the creation of value for shareholders through stronger engagement with subsidiaries, transformative mergers and acquisitions, consolidation, divestments and ownership reorganization. The third phase is to focus on growth, whether within the portfolio or through entering new markets, sectors or partnerships. Geographic Footprint KIPCO's Group CEO noted that the company believes in rising potential and boundless opportunities in the MENA region, with 65% of its assets in Kuwait and countries of the Gulf Cooperation Council. Despite the shifting global dynamics and instability in the MENA region, there remains strategic advantages for businesses across various sectors. Liability Management Sheikha Dana Naser Al Sabah noted that KIPCO's strategic journey involved efforts to proactively manage liabilities to strengthen the company's capital structure. Total repayments and/or exchanges of EMTNs and bonds in 2023 and 2024 reached a total of US$ 1.15 billion. In 2024, the company also fully repaid its US$ 525 million syndicated facility nearly one year ahead of its maturity date. These efforts underscore KIPCO's prudent approach to liquidity and proactive approach to liability management. KIPCO's 2024 Results KIPCO's strategy has strengthened the company's financial performance. In 2024, total revenue increased 16.4% to KD 1.5 billion, net profit stood at KD 15.6 million, total assets were up 3.7% to KD 13.0 billion, shareholders' equity rose 3.7% to KD 633.9 million and book value increased 3.7% to 139 fils per share. Portfolio companies reflected growth across different indices, reflecting the efforts to enhance their performance throughout 2024. Major Transactions Sheikha Dana Naser Al Sabah highlighted Burgan Bank's acquisition of 100% of Bahrain-based United Gulf Bank from United Gulf Holding. The acquisition gives Burgan Bank access to an Islamic banking window, as well as expansion into the GCC markets, namely Bahrain, Saudi Arabia and the UAE. It will also allow for the integration of asset and wealth management services, resulting in greater synergies and cross-selling. The Group CEO spoke of developments at OSN, emphasizing Warner Bros. Discovery's (WBD) 30% strategic investment in OSN Streaming Ltd. She said: 'The deal is a global endorsement by a best-in-class international strategic investor of OSN's creative talent, advanced technology and market position. The strategic impact of the acquisition covers synergies of content growth, including the production of local content to cater to audiences in the MENA region, as well as solidifying the position of OSN+ as a market leader in the streaming entertainment business.' Digital Transformation KIPCO's Group CEO underscored the importance of digital transformation and its application across all businesses to enhance overall performance and fuel growth. In its third year, Burgan Bank Turkey's digital banking platform, ON, has gained one million subscribers, with a market share of 5.2%. ON's digital optimization propelled its market share of vehicle loans to 6.9% among private banks in Turkey. As for OSN+ and Anghami, both the mobile and television applications have been revamped and 4K and Dolby Atmos features were introduced. User experience, search and recommendations have also been enhanced. Our Focus In closing, Sheikha Dana Naser Al Sabah talked about KIPCO's focus for the coming years, as it continues its journey of growth. She said: 'Our primary target in the coming years will be to continue to enhance wealth creation for our shareholders. We are executing this through three focused tracks, the first of which is deleveraging and selective asset monetization. The second area of focus is enhancing the financial and operating performance of our key companies to reach double digit growth in revenues and net profits. Finally, we will continue to strive for stable and growing positive cashflows from sustainable dividend distribution and growth of our key businesses.' Notes to Editors: Kuwait Projects Company (Holding) – KIPCO – is a holding company that invests in the Middle East and North Africa. Its strategy of acquiring, building, scaling and selling companies in the MENA region has worked successfully for over 35 years. KIPCO's main business sectors are financial services, food, petrochemicals & oil services, media, real estate and education. It's financial service interests include commercial banking, asset management and investment banking. The conversion rate used is US$1 to KD 0.30805 Further information: Eman Al Awadhi Group Senior Vice President Corporate Communications & Investor Relations Meshari Al Duhaim Senior Manager Corporate Communications & Investor Relations
Zawya
21-04-2025
- Business
- Zawya
KIPCO renews its partnership with Loyac for third year
Kuwait City: KIPCO – Kuwait Projects Company (Holding) – announced the renewal of its partnership with Loyac, a non-profit organization that aims to empower youth to become impactful leaders in society, for the third consecutive year. The partnership allows KIPCO to continue to sponsor the '7 Habits for Highly Effective Teens' program sessions offered to young people between the ages of 12 and 18. The '7 Habits' is a Franklin Covey Education program. The goals of this life empowerment program include increasing self confidence and self-esteem, being responsible, defining one's values, recognizing and prioritizing goals and resisting peer pressure. As part of the partnership, KIPCO will also sponsor a 'Leadership Retreat' for teenagers to the UK at the end of the year. The retreat will incorporate the '7 Habits' workshop, together with activities that reinforce teamwork and leadership, fostering personal independence and building connections with peers. Ms Eman Al Awadhi, KIPCO's Group Senior Vice President – Corporate Communications and Investor Relations, said: 'Our ongoing collaboration with Loyac has continued to yield impactful results for youth leadership development. Over the past year, we have collectively inspired and equipped close to 150 young individuals to realize their potential. We are excited to extend our partnership for yet another year, with a renewed commitment to not only developing future leaders but also placing an increased emphasis on empowering young girls and fostering inclusive opportunities. Together, we aim to create a brighter future where every young person can thrive.' On her part, Ms Abeer Al Essa, Loyac's Executive Board Member and the Finance & Admin Manager, said: 'We are thrilled to renew our partnership with KIPCO for another year, as we continue our shared mission of empowering young people and cultivating the leaders of tomorrow. Building on the successes of our previous initiatives, we remain dedicated to the principles of the '7 Habits of Highly Effective People', which guide our training and development efforts. Together with KIPCO, we look forward to making a lasting impact on the lives of young leaders in our community.' During 2024, close to 150 teens, college students and community workers who support young people have had the opportunity to participate in the '7 Habits' program. The '7 Habits' workshops focus on habits of effectiveness in young people, with the objective of improving student performance, reducing conflicts, enhancing cooperation and teamwork. It also helps the participants develop new skills through tools that help each individual excel.
