
KD 174.6 mn stc's revenues for the six months ended 30 June 2025 with KD 17.3 mn net profit
In this regard, Eng. Muataz Abdullah Aldharrab, the company's CEO, stated: 'By the grace of Allah, Kuwait Telecommunications Company (stc) delivered strong operational and financial results during the first half of 2025, reflecting the strength of its strategic plan focused on quality growth, operational efficiency, and the flexibility of its business model. As part of its efforts to expand market share, stc continued to roll out advanced and innovative solutions that cater to the needs of both individual and enterprise customers. The company is also enhancing its technical capabilities, aligning with the increasing demand for digital services and reaffirming its commitment to delivering sustainable and added value to all customer segments."
Commenting on stc's key achievements during the first six months of 2025, Eng. Aldharrab, stated:' The second quarter of 2025 marked a new phase of progress and excellence for stc, reflected in a series of high-quality milestones that reflect the company's ambitious vision and strong commitment to providing the best-in-class digital services and products.
In this context, it is worth highlighting that Kuwait stands at the forefront of global innovation as one of the first countries to adopt 5G Advanced in June 2025, representing a key step toward upgrading the digital infrastructure. This reaffirms Kuwait's leadership in next-generation technologies and solidifying its status as a premier digital hub in the region.
Consequently, stc launched its 5G advanced network to provide an exceptional digital experience, in line with its ongoing commitment to supporting Kuwait Vision 2035 through more precise connectivity, faster speeds, and smarter networks. While 5G Advanced represents the evolution of 5G technology which is poised to transform the digital experience for both individuals and businesses, this cutting-edge advancement will offer users enhanced capabilities to improve their operations and online activities, paving the way for the widespread adoption of intelligent solutions across multiple industries.
As part of its efforts to strengthen its market position and enhance institutional performance within a framework of effective governance and social responsibility, stc obtained the ISO 45001:2018 certification for implementing international standards in occupational health and safety management. This achievement affirms the company's commitment to providing a safe and healthy work environment for its employees and ensuring operational efficiency at the highest global standards.
Additionally, during the second quarter, stc launched the third edition of its flagship accelerator program 'inspireU,' designed to support tech startups and small and medium-sized enterprises (SMEs) in Kuwait. The program aims to empower them to reach new levels of growth and innovation, in line with stc's strategic framework that focuses on enabling entrepreneurs to enhance digital innovation and business growth in the region."
Commenting on the financial results for the period ended June 30, 2025, Eng. Muataz Aldharrab stated: "stc delivered strong financial performance during the first half of 2025, supported by sustainable growth across its operating segments. Total revenue reached KD 174.6 million during the first half of 2025, representing a growth of 5.2% compared to KD 166.0 million during the same period last year. This growth was primarily driven by the rise in the consumer segment revenues, which accounted for 77% of total revenue. Meanwhile, the enterprise segment contributed to 23% of total revenue, supported by ongoing efforts to enhance the company's business model, digital services, and provide integrated technological solutions that meet the needs of companies across various industries."
Aldharrab added: "These results led to an increase in EBITDA by 5.7%, reaching KD 45.5 million during the first half of 2025, compared to KD 43.1 million in the same period of 2024, driven by higher revenues and improved operational efficiency.
Net profit amounted to KD 17.3 million (earnings per share of 17 fils) during the first half of 2025, representing a growth of 2.7%, compared to KD 16.9 million (earnings per share of 17 fils) during the same period in 2024. This resilient financial performance reflects the company's success in cost management, balancing growth with future investments, and capitalizing on the accelerated digital transformation in the local market.
Along with the continued focus on efficiency and innovation, the solid results highlight stc's ability to enhance profitability and achieve sustainable growth. It is also worth noting that stc's customer base reached approximately 2.2 million by the end of June 2025."
Commenting on the company's financial position as of June 30, 2025, Aldharrab stated: "The company's total assets reached KD 470.4 million by the end of the first half of 2025, while total shareholders' equity stood at KD 222.9 million, reflecting a solid financial position and a stable capital structure.
stc continues to maintain strong financial solvency, ranking among the best in the telecom sector across the region. This enables the company to pursue growth and expansion projects without compromising financial stability. The strength of stc's financial position allows it 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.
Through this approach, stc aims to diversify its revenue streams, enhance cost and resource management efficiency, and generate sustainable and rewarding returns for its shareholders. The company is also committed to closely monitoring and analyzing key performance indicators, while executing its operational and investment initiatives with high efficiency, relying on its advanced digital infrastructure and well-structured long-term growth plans.
These efforts reflect stc's commitment to upholding the highest standards of governance and internal control, fostering a culture of transparency and institutional excellence, and ensuring business continuity while strengthening the company's ability to achieve excellence and competitive superiority in a rapidly evolving business environment."
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Wamda
6 hours ago
- Wamda
Journify doubles valuation after securing fresh investment
UAE-based Journify has secured strategic investment from Shorooq Partners, Bunat Ventures, and Plug and Play, doubling its valuation and growing 5x in revenue within six months. Founded in 2023 by Taoufik El Jamali, Amine Chouki and Omar AlShoubaki, Journify is an AI-powered data activation platform that enables GCC brands to activate first-party data across platforms like Meta, TikTok, Snapchat, Google, and X—offering privacy-compliant, performance-driven marketing solutions amid tightening regulations and declining third-party cookies. This funding will accelerate Journify's AI roadmap development, support hiring across engineering, product, and commercial teams, and drive further expansion into key GCC markets. Earlier this year, Journify raised $4 million in funding, led by Silicon Badia, with participation from RZM and other investors. Press release: Journify, the UAE-based AI-powered data activation platform, is transforming how GCC brands leverage first-party data for measurable growth. With 5x revenue growth and a doubled valuation in just six months, Journify is expanding across Saudi Arabia, the UAE, and the broader Gulf region. The company has quickly become the preferred partner for brands seeking performance-driven, privacy-compliant marketing solutions. Today's digital landscape presents significant challenges for MENA brands: stricter privacy regulations, disappearing third-party cookies, and increasing ROI demands. Journify offers a simple solution by enabling advertisers to activate their first-party data across major platforms, including Meta, TikTok, Snapchat, Google, and X. This approach converts customer insights into measurable, scalable performance. Journify's growth is driven by partnerships with forward-thinking brands ready to embrace modern advertising approaches. Retail leader Jarir has used Journify's AI platform to activate their first-party data on Meta, resulting in a 182% increase in Return on Ad Spend (ROAS) and a 51% decrease in Cost Per Purchase (CPP). Similarly, Baytonia, a leading furniture retail and marketplace brand in the Gulf region, implemented Journify's solution on TikTok, achieving an 80% increase in ROAS and a 44% drop in CPP. These results clearly demonstrate the tangible value of Journify's approach. These successes underscore Journify's core mission: making first-party data activation both accessible and effective for brands competing in today's fragmented attention economy. To meet growing demand, Journify is accelerating its AI product roadmap, focusing on agentic AI systems for 1:1 personalisation at scale. The company is expanding teams and strengthening its Gulf presence. With targeted AI investments, Journify will soon deploy autonomous agents for personalised experiences, precision targeting, automated media optimisation, and improved conversion rates throughout the customer journey. "In today's privacy-first landscape, brands need solutions that deliver growth and profitability," said Taoufik El Jamali, Co-Founder and CEO of Journify. "We're reimagining brand-customer relationships. Our goal is enabling businesses of all sizes to leverage first-party data efficiently. Our customers' results validate our approach and signal a new era in digital marketing." The timing couldn't be better. MENA stands as one of the world's fastest-growing digital advertising markets. According to the Interactive Advertising Bureau (IAB) MENA, regional digital ad spend surged by 20 percent in 2024 alone, reaching $7bn. Yet despite this impressive growth, many advertisers continue to grapple with data fragmentation, lack of transparency in the ecosystem, and insufficient measurement frameworks. "Brands across this region increasingly demand greater transparency and efficiency from their marketing investments," said Ian Manning, Executive Director at IAB MENA. "Solutions centred on first-party data, AI-powered optimisation, and measurable ROI are best positioned to lead this next growth phase." To fuel its momentum, Journify recently secured strategic investment from Shorooq, Bunat Ventures, and Plug and Play. This funding will accelerate Journify's AI roadmap development, support hiring across engineering, product, and commercial teams, and drive further expansion into key GCC markets. "The team's clarity of vision and execution has deeply impressed us," said Omer Zabit, Partner at Shorooq. "Journify addresses one of digital advertising's most critical gaps today: the underutilisation of first-party data. As regulations evolve and brands demand better results, this will be the infrastructure marketers rely on for the next decade."


Wamda
6 hours ago
- Wamda
Omani startup SafaQat raises funding to expand AI-powered procurement platform
Oman-based digital procurement startup SafaQat has raised funding from the Oman Future Fund and Idrak Group. Founded in 2020 by four brothers, the platform digitises the tendering process and has earned support from Oman's SME Development Authority (Riyada). SafaQat will use the investment to enhance its AI-powered infrastructure, improve user experience, expand into government procurement, and enter new markets. Press release: SafaQat, an Omani digital procurement and purchasing platform, has successfully raised an undisclosed amount in strategic funding from the Oman Future Fund and the Idrak Group. The investment reflects growing confidence in local technology ventures and their role in building a sustainable digital economy. Supervised by the SME Development Authority (Riyada), SafaQat was founded by four brothers from the Wilayat of Nizwa — Majed, Sulaiman, Ibrahim, and Al Moatasem Al Saifi — during the COVID-19 lockdowns. The platform evolved from a simple quote-sharing tool into a comprehensive solution supporting competitive procurement through digital tenders. 'This investment represents a qualitative leap. It's not just financial; it's about believing in the future of Oman's digital economy and empowering youth,' said co-founder Al Moatasem Al Saifi. The funding will be used to improve technical infrastructure, user experience, and AI capabilities; expand into government procurement; and scale to new markets. SafaQat currently hosts over 2,486 users, 1,260 tenders, and 2,784 registered suppliers, positioning it as a national leader in digitising procurement and supply chains. The platform has received multiple accolades, including recognition at Jadarah 2024 and the Omani Startup Accelerator.

Al Bawaba
9 hours ago
- Al Bawaba
Sharjah Islamic Bank Signs Strategic Agreement with Alawneh Exchange to Strengthen Financial Connectivity Between Jordan and the UAE
Sharjah Islamic Bank (SIB) has announced the signing of a strategic cooperation agreement with Alawneh Exchange, one of the largest exchange companies in the Hashemite Kingdom of Jordan. This milestone agreement marks a significant step in enhancing regional partnerships and advancing cross-border remittance solutions between Jordan and the UAE, making them faster, more secure, efficient, and agreement was signed by Mr. Hakam Abu Zarour, COO of Sharjah Islamic Bank, and Mr. Ayman Alawneh, CEO of Alawneh Exchange, in the presence of H.E. Hamad Abdullah Al Matroushi, Acting Head of the UAE Embassy in Jordan; Mr. Saeed Al Ameri, head of investments, treasury and financial institutions at SIB; representatives from the Central Bank of Jordan; senior executives from both parties; and a select group of professionals from the banking and financial this agreement, Alawneh Exchange becomes the first Jordanian exchange company to sign a direct agreement with an Islamic bank in the UAE, reinforcing Sharjah Islamic Bank's position as a leading institution in driving financial integration and cross-border cooperation. The partnership positions the Bank as a vital link in strengthening financial and trade connectivity between the GCC and the Levant Banking Experience and Facilitating TransfersThe agreement aims to simplify and optimize capital flow between the two countries—for both individuals and businesses—by providing smoother and more cost-effective transfer channels, and enhancing the banking experience through the opening of an AED account at Sharjah Islamic Bank on behalf of Alawneh Exchange. This account will enable secure and direct settlement of both personal and commercial Innovation in Digital Financial ServicesCommenting on the agreement, Hakam Abu Zarour, COO of Sharjah Islamic Bank, stated: "This agreement reflects SIB's firm commitment to expanding its network of regional partnerships. It is a strategic milestone aligned with our vision to facilitate capital flows and provide Sharia-compliant financial services to support the growing commercial and financial activities between the UAE and Jordan."He added, "The partnership also aligns with the Bank's broader strategy to drive innovation in digital financial services and accelerate cross-border transactions by offering more efficient and flexible remittance channels. It also supports our contribution to sustainable development goals and promotes financial inclusion, helping to stimulate economic growth and enhance the regional business environment."For his part, Ayman Alawneh, CEO of Alawneh Exchange, commented: 'We are proud to sign this strategic agreement with Sharjah Islamic Bank, which represents a major step forward in our journey to expand our regional partnerships and enhance remittance services between Jordan and the UAE. This collaboration will allow us to deliver faster, safer, and more efficient solutions to our individual and corporate clients.' He added, 'The agreement builds upon our ongoing efforts to improve remittance systems and leverage the advanced banking infrastructure offered by Sharjah Islamic Bank. We are confident this partnership will support financial inclusion and facilitate capital movement in a way that benefits the national economy and meets the needs of our clients in both countries.'