Latest news with #KIPCO
Kuwait Times
3 days ago
- Business
- Kuwait Times
KIPCO reports a net profit of KD 10.2 million for H1 2025
KIPCO reports a net profit of KD 10.2 million for H1 2025 'Continued increase in operating profit, revenue reflects success of our strategy' KUWAIT: KIPCO – Kuwait Projects Company (Holding) – reported a record operating profit of KD 88.7 million ($290.5 million) for the first six months of 2025, a 9.9 percent increase from the KD 80.8 million ($264.6 million) reported for the corresponding period in 2024. Operating revenue also increased 6 percent to reach KD 769.1 million ($2.52 billion), up from KD 725.5 million ($2.38 billion) reported for the same period last year. The increase reflects the enhanced performance of KIPCO's operations in logistics and oil services, as well as the steady results of the banking, foodstuff, education and real estate businesses. KIPCO's net profit for the first six months of 2025 came to KD 10.2 million ($33.4 million), compared to KD 11.2 million ($36.7 million) reported in the first half of 2024. Earnings per share for the first half of 2025 was at 1.3 fils ($0.43 cents). In the second quarter of 2025 (the three months ended June 30, 2025), KIPCO's operating profit increased to KD 38.4 million ($125.7 million) from KD 37.0 million ($121.3 million) reported for the corresponding period of 2024. KIPCO reported a net profit of KD 5.0 million ($16.4 million) for the three-month period, compared to KD 5.3 million ($17.4 million) for the corresponding quarter in 2024. KIPCO's total revenue from operations for the three months came to KD 385.5 million ($1.26 billion), an increase of 3.2 percent from the KD 373.7 million ($1.22 billion) reported in the second quarter of 2024. Shareholders' equity went up 2.5 percent to KD 649.7 million ($2.13 billion) compared to KD 633.9 million ($2.08 billion) at the end of 2024. KIPCO's consolidated assets at the end of the first six months of 2025 stood at KD 13.5 billion ($44.2 billion), up from the KD 13.0 billion ($42.6 billion) reported at the end of 2024. Commenting on the results, Sheikha Dana Naser Sabah Al-Ahmad Al-Sabah, KIPCO's Group Chief Executive Officer, said: 'KIPCO's results for the first half of 2025 attest to the success of our strategy and efforts focused towards strengthening the operating and financial performance of key Group companies, as reflected in the 10 percent increase in our operating profit and the 6 percent increase in operating revenue. It is also evident in the robust operational outcomes across our key sectors, including banking, foodstuffs, oil services, logistics, real estate and education. These accomplishments underscore our ongoing commitment to driving growth and creating long-term value for our stakeholders.'
Zawya
5 days ago
- Business
- Zawya
KIPCO reports a net profit of KD 10.2mln (US$ 33.4mln) for H1 2025
Kuwait City: KIPCO – Kuwait Projects Company (Holding) – reported a record operating profit of KD 88.7 million (US$ 290.5 million) for the first six months of 2025, a 9.9% increase from the KD 80.8 million (US$ 264.6 million) reported for the corresponding period in 2024. Operating revenue also increased 6% to reach KD 769.1 million (US$ 2.52 billion), up from KD 725.5 million (US$ 2.38 billion) reported for the same period last year. The increase reflects the enhanced performance of KIPCO's operations in logistics and oil services, as well as the steady results of the banking, foodstuff, education and real estate businesses. KIPCO's net profit for the first six months of 2025 came to KD 10.2 million (US$ 33.4 million), compared to KD 11.2 million (US$ 36.7 million) reported in the first half of 2024. Earnings per share for the first half of 2025 was at 1.3 fils (US$ 0.43 cents). In the second quarter of 2025 (the three months ended June 30, 2025), KIPCO's operating profit increased to KD 38.4 million (US$ 125.7 million) from KD 37.0 million (US$ 121.3 million) reported for the corresponding period of 2024. KIPCO reported a net profit of KD 5.0 million (US$ 16.4 million) for the three-month period, compared to KD 5.3 million (US$ 17.4 million) for the corresponding quarter in 2024. KIPCO's total revenue from operations for the three months came to KD 385.5 million (US$ 1.26 billion), an increase of 3.2% from the KD 373.7 million (US$ 1.22 billion) reported in the second quarter of 2024. Shareholders' equity went up 2.5% to KD 649.7 million (US$ 2.13 billion) compared to KD 633.9 million (US$ 2.08 billion) at the end of 2024. KIPCO's consolidated assets at the end of the first six months of 2025 stood at KD 13.5 billion (US$ 44.2 billion), up from the KD 13.0 billion (US$ 42.6 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: 'KIPCO's results for the first half of 2025 attest to the success of our strategy and efforts focused towards strengthening the operating and financial performance of key Group companies, as reflected in the 10% increase in our operating profit and the 6% increase in operating revenue. It is also evident in the robust operational outcomes across our key sectors, including banking, foodstuffs, oil services, logistics, real estate and education. These accomplishments underscore our ongoing commitment to driving growth and creating long-term value for our stakeholders.' - Ends - About KIPCO Kuwait Projects Company (Holding) – KIPCO – was incorporated in 1975. We are an investment holding company operating across the GCC and wider MENA region. Our vision is to be an agile investment holding company in our core markets, delivering sustainable returns in sectors that matter to our society in present and future. Realigning and rebalancing our portfolio of investments, strengthening the operating and financial performance of our key portfolio companies and strengthening the capital structure of the company are key areas of focus for KIPCO's strategy. KIPCO is a multi-sector operator with focus on financial services, covering commercial banking, asset management and investment banking, as well as foodstuff, petrochemicals & oil services, real estate, healthcare, education and logistics. The conversion rate used is US$1 to KD 0.30535 Further information: Eman Al Awadhi Group Senior Vice President Corporate Communications & Investor Relations Meshari Al Duhaim Senior Manager Corporate Communications & Investor Relations
Kuwait Times
23-06-2025
- Business
- Kuwait Times
KIPCO's report outlines achievements, progress
'We are preparing our companies for integrated corporate disclosure & sustainable institutional practices,' says Group SVP KUWAIT: KIPCO – Kuwait Projects Company (Holding) – published its 2024 Sustainability Report. This is the company's fourth report and is in line with the Global Reporting Initiative (GRI), taking into account national and international sustainability frameworks. The report outlines KIPCO's achievements and progress in the environmental, social and governance (ESG) areas for the year 2024. On this occasion, Eman Al Awadhi, Group Senior Vice President – Corporate Communications and Investor Relations at KIPCO, said: 'We are delighted to release our fourth Sustainability Report, which highlights KIPCO's ongoing commitment to sustainable institutional practices. This report reflects our vision of aligning our business operations with corporate sustainability goals and embodies our efforts to enhance engagement across our Group to make a tangible and meaningful impact. We believe that the increased participation of our Group companies in sustainability practices is a step that strengthens our ability to meet future requirements responsibly and efficiently. It also serves to prepare our Group companies for the next phase of integrated corporate disclosure, in line with modern regulatory trends aimed at enhancing sustainability reporting for listed companies.' The report reviews KIPCO's progress in implementing its sustainability strategy across its subsidiaries. This includes the formation of a Sustainability Task Force by the Sustainability Committee – a committee of the Board of Directors – comprising Group representatives to enhance coordination towards achieving common goals. The report also reflects an expansion in the scope of environmental disclosure to include both direct and indirect emission sources, thereby reinforcing transparency and promoting a comprehensive understanding of the environmental impact of the Group's activities. Additionally, the report highlights the stability of resource consumption indicators across the company's operations, with relatively low rates of electricity, water and paper consumption. This demonstrates operational efficiency and confirms the limited direct environmental impact of the company's activities. The report also underscores various social initiatives, including the ENBAT program, which prepares fresh graduates for the labor market, and working with Loyac, which provided young women the opportunity to participate in a leadership program in the UK. In the area of empowerment, the report notes a female representation rate of 24.2 percent in senior management positions, 36.5 percent within the total workforce, and 20 percent in Board of Directors membership. KIPCO affirms its commitment to continuously promote a sustainability culture at all levels, with a focus on achieving long-term value that positively reflects on shareholders and stakeholders, based on corporate responsibility, efficiency and transparency.
Zawya
22-06-2025
- Business
- Zawya
KIPCO publishes its 2024 Sustainability Report
Kuwait City: KIPCO – Kuwait Projects Company (Holding) – published its 2024 Sustainability Report. This is the company's fourth report and is in line with the Global Reporting Initiative (GRI), taking into account national and international sustainability frameworks. The report outlines KIPCO's achievements and progress in the environmental, social and governance (ESG) areas for the year 2024. On this occasion, Ms Eman Al Awadhi, Group Senior Vice President – Corporate Communications and Investor Relations at KIPCO, said: 'We are delighted to release our fourth Sustainability Report, which highlights KIPCO's ongoing commitment to sustainable institutional practices. This report reflects our vision of aligning our business operations with corporate sustainability goals and embodies our efforts to enhance engagement across our Group to make a tangible and meaningful impact. We believe that the increased participation of our Group companies in sustainability practices is a step that strengthens our ability to meet future requirements responsibly and efficiently. It also serves to prepare our Group companies for the next phase of integrated corporate disclosure, in line with modern regulatory trends aimed at enhancing sustainability reporting for listed companies.' The report reviews KIPCO's progress in implementing its sustainability strategy across its subsidiaries. This includes the formation of a Sustainability Task Force by the Sustainability Committee – a committee of the Board of Directors – comprising Group representatives to enhance coordination towards achieving common goals. The report also reflects an expansion in the scope of environmental disclosure to include both direct and indirect emission sources, thereby reinforcing transparency and promoting a comprehensive understanding of the environmental impact of the Group's activities. Additionally, the report highlights the stability of resource consumption indicators across the company's operations, with relatively low rates of electricity, water and paper consumption. This demonstrates operational efficiency and confirms the limited direct environmental impact of the company's activities. The report also underscores various social initiatives, including the ENBAT program, which prepares fresh graduates for the labor market, and working with Loyac, which provided young women the opportunity to participate in a leadership program in the UK. In the area of empowerment, the report notes a female representation rate of 24.2% in senior management positions, 36.5% within the total workforce, and 20% in Board of Directors membership. KIPCO affirms its commitment to continuously promote a sustainability culture at all levels, with a focus on achieving long-term value that positively reflects on shareholders and stakeholders, based on corporate responsibility, efficiency and transparency. About 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
Al Bawaba
01-06-2025
- 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.'
