29/10/2026 04:19 AST
stc group announced its interim financial results for the period ended 30 September 2026, delivering growth in revenue and operating profit during the first nine months of the year. The performance was supported by the strength of its core business and accelerating growth across its subsidiaries, while third-quarter net profit exceeded average analyst expectations.
The group's nine-month revenue increased by 3.7% year on year to SAR 60,096 million.
Nine-month gross profit increased by 5.2% year on year to SAR 29,362 million.
Nine-month operating profit rose by 4.1% year on year to SAR 11,282 million.
Earnings before interest, taxes, zakat, depreciation and amortisation (EBITDA) increased by 3.5% to SAR 19,150 million during the nine-month period.
Nine-month net profit amounted to SAR 10,918 million, representing growth of 2.6% after excluding non-recurring items in both the current and corresponding prior-year periods.
Subsidiaries' revenue grew by 9.0% during the nine-month period, with third-quarter growth accelerating to 18.5% year on year.
The group announced a dividend of SAR 0.55 per share for the third quarter of 2026, in line with the dividend policy approved by the General Assembly, bringing total dividends to shareholders for the first nine months to SAR 8.2 billion.
Commenting on the results, Eng. Olayan Mohammed Alwetaid, stc Group CEO, highlighted the group's strong results during the first nine months of 2026 as it continued to execute its strategy to strengthen its core telecommunications and digital businesses and expand into promising growth areas, reaffirming its commitment to creating shareholder value.
Eng. Olayan Mohammed Alwetaid said: "stc's financial performance was underpinned by strong revenue growth of 3.7% year on year during the nine-month period, driven by growth in its telecommunications business in Saudi Arabia and accelerating growth across its subsidiaries. Commercial unit revenue increased by 2.0%, Carriers and Wholesale unit revenue rose by 5.1%, and subsidiaries' revenue grew by 9.0%."
The improvement in the group's performance reflects the diversification of its investments and income streams, alongside greater integration across its telecommunications and digital businesses, supporting sustainable growth. Accelerating growth across its subsidiaries also strengthens their role in expanding the group's business and capturing opportunities in promising markets and sectors.
Operationally, stc group continued to grow its customer base and expand its infrastructure. Mobile and fixed-line subscriptions in Saudi Arabia increased by 4.8% and 4.0% year on year, reaching 30.6 million and 6.2 million, respectively. The number of homes connected to its fibre network rose by 7.0% to 3.95 million, while the number of 5G towers increased by 31.5% to 12,38K
During LEAP 2026, the group strengthened its collaboration with leading local and international companies through agreements and partnerships to expand 5G networks, develop network capabilities, enhance data centre connectivity, and expand cloud computing and digital services. These initiatives support the diversification of its business and strengthen its ability to serve multiple sectors.
As part of its efforts to apply its digital infrastructure capabilities to support vital sectors, the group launched a new net-zero-carbon solution for 5G Advanced network sites, helping improve network efficiency and capacity while reducing energy consumption. It also supported the Ministry of Defence's Health Services in performing the first remote robotic surgery between two of its healthcare facilities in Riyadh and Dhahran.
stc group continues to develop its businesses and operational and investment capabilities, strengthening its competitiveness and contributing to Saudi Arabia's digital future, while supporting the development of the regional markets in which it operates and creating sustainable shareholder value.
Saudi Gazette
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