Latest news with #KuwaitTelecommunicationsCompany
Al Bawaba
04-05-2025
- Business
- Al Bawaba
stc sponsors the ‘Mubadr Plus' Forum organized for SMEs by The National Fund
Kuwait Telecommunications Company – stc, a world-class digital leader providing innovative services and platforms to customers, enabling the digital transformation in Kuwait, sponsored and participated in the 'Mudar Plus' Forum launched by The National Fund to empower SMEs in Kuwait. The forum was held under the patronage of the Minister of Commerce and Industry, His Excellency Khalifa Alajeel Alaskar, and aligns with Kuwait's 2035 vision. stc's participation in the forum falls under its extensive corporate social responsibility (CSR) framework, with supporting the entrepreneurial community in Kuwait serving as one of its key pillars. Mubadr Plus was held at the Sheikh Jaber Al-Ahmad Cultural Center on April 22nd, featuring several panel discussions focused on SMEs in Kuwait. The first panel discussion covered the challenges and opportunities facing SMEs in the market, whereas the second panel discussion highlighted some of the success stories that benefited from government support and digital transformation initiatives in Kuwait. The discussions brought together industry professionals and innovators to explore various dynamics of the SME ecosystem in Kuwait. Ahmed Al Nowaibet, Director of Public Relations and Social Media at stc, participated as a panelist in the second discussion of the forum, covering various initiatives that stc has implemented to create opportunities for SMEs. He highlighted stc's 'weyak' initiative which was launched by the Company with a strategic focus on empowering both SMEs and entrepreneurs through various programs. Al Nowaibet also mentioned stc's 'inspireU' business accelerator, a program initially launched by stc Group to assist entrepreneurs in bringing their projects to life through a comprehensive program offering workshops and mentorship to guide ambitious entrepreneurs. Al Nowaibet emphasized stc's role as an enabler of digital transformation that provides SMEs with access to various platforms and programs that assist them throughout their unique journeys. Al Nowaibet, said, 'stc is proud to have participated in another initiative that aims to support and empower the SME ecosystem in Kuwait. The forum served as an important platform to highlight stc's role in supporting entrepreneurs by offering tailored initiatives that address their evolving needs. Programs like weyak and inspire reflect stc's belief in the potential of local business owners and our ongoing efforts to provide the right environment for growth and innovation.' He added, 'From a strategic perspective, supporting SMEs falls in line with stc's broader vision to drive digital transformation and contribute to the national development agenda outlined in Kuwait Vision 2035. 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.' Jasser Al-Najdi, General Manager of United Development Company, expressed that the objective behind the Mubadr Plus Forum was to create a national program that focused on supporting and developing the skills of SME owners. The program was launched in November 2024 and implemented over several months through an effective partnership with The National Fund, targeting funded entrepreneurs officially registered in the national registry as well as existing business owners. He said, 'The Mubadr Plus Forum is an extension of the program and serves as an integral part of the philosophy that we follow. It provides SME owners with direct engagement opportunities with representatives from both the public and private sectors, while also discussing the future of SMEs in Kuwait, the current challenges they face, and the policies needed to support their growth.' Al-Najdi expressed his appreciation to stc, noting that the sponsorship is a reflection of the private sector's role in supporting initiatives that aim to evolve and empower the SME ecosystem. He emphasized that stc's participation in the forum displays a deep understanding of the importance of supporting entrepreneurs and enhancing their capabilities, particularly in areas related to digital transformation and technological empowerment, both of which are fundamental pillars for any business in this era. He concluded, 'At United Development, we believe that national programs should not be measured solely by the number of beneficiaries, but by the value of the impact and the transformation they create in awareness and practice. Through this forum, we aim to turn knowledge into practice and training into real empowerment.'
Arab Times
27-04-2025
- Business
- Arab Times
KD87.4mn stc's revenues for the first three months ended 31 March2025 with KD 9.1mn net profit
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 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.'
Al Bawaba
24-04-2025
- Business
- Al Bawaba
KD 87.4 mn stc's revenues for the first three months ended 31 March 2025 with KD 9.1 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 three months period ended 31 March 2025, highlighting the most significant achievements as well as the financial and operational performance. The financial results for three months period 31 March 2025 KD 87.4 mn Revenues KD 22.3 mn EBITDA KD 9.1 mn Net Profit 9 Kuwaiti fils Earnings per share KD 480.2mn Assets KD 214.6 mn Shareholders' equity 215 fils per share Book value per share 2.2 mn customers Customer 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 on stc'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 that stc 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. stc also 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.'
Al Bawaba
23-03-2025
- Business
- Al Bawaba
stc transforms the home of a family in need under its 'With good, we go further' campaign
Kuwait Telecommunications Company – stc, a world-class digital leader providing innovative services and platforms to customers, enabling the digital transformation in Kuwait, announced that it has renovated the home of a family in need as part of its 'With good, we go further' campaign. The initiative, organized in collaboration with the Tarahom Volunteer Team, aligns with the core objectives behind stc's annual Ramadan campaign, which comes as part of the Company's extensive corporate social responsibility (CSR) framework under the pillar of supporting various segments within the community, especially families facing financial hardships. As part of this heartfelt initiative and in collaboration with the Tarahom Volunteer Team and Media Personaity Mohammad Al Saddani, stc supplied the family in need with essential appliances that were delivered and installed into the family's home in order to help improve their daily living conditions. In addition to equipping the household with new appliances, stc fulfilled the wish of the young child by gifting them a PlayStation 5 as an additional form of entertainment to enjoy at home. stc also ensured that the family stays connected to the digital world by installing a high-speed internet router. A documentary film was also shown on social media platforms, talking about the value of giving, presented by media personality Mohammed Al indicated in a statement that the initiative aligns with the values of Ramadan, which encourages practicing generosity, compassion, and community support. Through its collaboration with the Tarahom Volunteer Team, stc aimed to create a lasting positive impact that aligns with the core values behind being socially responsible and helping those in need. The home renovation initiative was organized to not enhance the family's living conditions but also provide them with the necessary tools to lead a more comfortable and connected life. These initiatives, as well as others launched by stc during its Ramadan campaign, highlight the Company's efforts to uplift various segments of the community and enhance their overall well-being. stc's 2025 Ramadan campaign aligns with the Company's mission to drive social responsibility by organizing, sponsoring and participating in various community-drive initiatives. Through the 'With good, we go further' initiative, stc embraces the spirit of Ramadan by launching programs that uplift the community in meaningful ways, ensuring that support reaches those who need it the most. In leveraging its resources and strategic partnerships, stc aims to create a long-lasting impact that reflects its pioneering position in the private sector as a key enable of positive change.
Arab Times
22-03-2025
- Business
- Arab Times
stc hosts sports challenges under its strategic partnership with Flare Fitness this Ramadan
KUWAIT CITY, March 22: Kuwait Telecommunications Company – stc, a world-class digital leader providing innovative services and platforms to customers, enabling digital transformation in Kuwait, continued organizing initiatives this Ramadan under its strategic partnership with Flare Fitness for the 4th consecutive year. The initiatives included hosting the 'Your calories = internet' activity, and the Mishref Walkathon, a fitness challenge. stc's collaboration with Flare Fitness aligns with the objectives set under its 2025 Ramadan campaign as well as the Company's extensive corporate social responsibility (CSR) and sustainability frameworks, which aim to spread a positive impact in the community. Through its collaboration, Flare Fitness organized several events throughout the Holy Month of Ramadan to engage with the community and encourage individuals to stay fit while supporting a good cause. One of the activities, titled 'Your steps equal Internet', encouraged participants to move their bodies and record as many steps as they could. In return, stc pledged to donate free data and voice lines to families in need based on the number of steps taken in collaboration with the Tarahom Volunteer team. Proven by its success in previous years, stc organized this initiative once again given its impact on participants and the meaningful support it provides to families in need, reinforcing the power of collective movement for a greater cause. As part of the collaboration, stc sponsored the Mishref Walkathon, held from March 13th to 14th, which brought together fitness enthusiasts and families to promote an active lifestyle. The event encouraged participants of all ages to embrace an active lifestyle while enjoying a community-driven experience. Adding to the festivities, stc organized entertainment activities for children as they celebrated Gergean, creating a joyful environment filled with laughter, games, and the traditions of Ramadan during this time. stc's collaboration with Flare Fitness throughout Ramadan reflects the Company's commitment to promoting a balanced and healthy lifestyle while emphasizing the importance of community engagement. By integrating fitness activities and giving back to those in need, stc continues to inspire individuals to stay active and support the community, aligning with the Company's broader objectives defined under its CSR and sustainability programs. In a statement, stc thanked Flare Fitness and all the organizers who played a role in achieving the successful outcomes witnessed throughout all the initiatives. The Company highlighted that supporting the community in various ways, especially encouraging a well-balanced lifestyle is an essential aspect of life, especially during the Holy Month of Ramadan. Through these initiatives, stc aims to empower the community, especially the younger generation, by encouraging them to adopt positive habits that contribute to both physical and mental well-being. As part of its 'With good, we go further' campaign, stc will continue to introduce various initiatives throughout the Holy Month of Ramadan that embody the values of physical and mental health, generosity, and social responsibility. These efforts aim to strengthen bonds with the community while creating opportunities for positive engagement that align with the essence of the Holy Month.
