Latest news with #MuatazAbdullahAldharrab
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.'
