Stc Group Achieves 11.05% Increase In Net Profit For First Quarter Of 2025

stc has released its preliminary financial results for the first quarter of 2025. The company reported a revenue increase of 1.60% year-over-year, reaching SAR19,210 million. Gross profit rose by 5.01% to SAR9,098 million, while operating profit saw a 2.02% increase to SAR3,584 million. EBITDA also grew by 5.25%, amounting to SAR6,120 million. Net profit for the quarter was SAR3,649 million, marking an 11.05% rise from the previous year.

The group distributed SAR0.55 per share for the first quarter of 2025, following the dividends distribution policy approved by the General Assembly. Eng. Olayan Alwetaid, CEO of stc Group, attributed these achievements to their dedication to innovation and operational efficiency. He emphasised their commitment to creating value for shareholders and customers while supporting the digital economy.

In early 2025, stc Group reached several strategic milestones that reinforced its standing in telecommunications and IT sectors. Notably, they localized eSIM technology software in collaboration with Thales, becoming the first telecom operator globally to receive SAS-UP license certification from GSMA. This achievement aligns with stc's efforts to enhance local content in ICT through business localization and expertise transfer.

stc also signed a strategic agreement with Ooredoo to establish an international ground fiber network corridor between Saudi Arabia and Oman. This project aims to improve digital communication infrastructure in the region by connecting submarine cable landing stations on the Red Sea in Saudi Arabia with those on the Arabian Sea in Oman via dedicated data centers.

The partnership with Ooredoo will create an integrated ground fiber network with two backup routes, enhancing intercontinental connectivity and supporting regional economic growth through advanced communication solutions and digital transformation initiatives.

Furthermore, stc strengthened its position in cloud computing and AI by partnering with Amazon Web Services (AWS). This collaboration enhances stc's ability to deliver advanced technological solutions tailored to various sectors' needs while driving a shift towards an integrated digital economy.

Improving Telecommunications Network

During Ramadan, stc upgraded its telecommunications network at the Two Holy Mosques to meet increased service demand during peak times. This enhancement resulted in a 120% boost in connection speed, ensuring exceptional communication experiences for visitors during peak periods.

This upgrade is part of stc's commitment to providing high-quality digital services and maintaining robust infrastructure during significant events.

The company's efforts reflect its dedication to advancing smart technology and leading digital transformation within Saudi Arabia and beyond.

With inputs from SPA