Kuwait's National Mobile Telecommunications Company (Ooredoo) has delivered solid results for the nine-month period ended September 30, 2026 posting a 6% increase in its consolidated revenue which rose to KD608 million ($1.9 billion) from KD573 million ($1.8 billion) supported by strong underlying business performance.
Announcing its financial results for the first nine months, Ooredoo said the ebitda increased by 10% to KD255 million compared to KD232 million for the same period last year.
Normalising for the impact of the one-off bad debt provision recognised in the nine-month period last year, ebitda surged by 8% YoY. Its consolidated customer base increased by 7% to 29.1 million as at 30 September 2026 compared with 27.3 million as at 30 September 2025.
Ooredoo said its net profit fell by 29% to KD48 million for the nine months ended 30 September 2026 from KD68 million for the same period in 2025.
The decrease was mainly due to the recognition of a one-off provision of KD23.5 million following the outcome of the final hearing before the Supreme Court of Algeria in June 2026 in relation to a claim filed by the Central Bank of Algeria against one of the Group's subsidiaries, Wataniya Telecom Algerie, it stated.
Normalizing for the impact of this provision in 2026 and the one-off bad debt provision recognised in the comparative period, net profit attributable to NMTC amounted to KD72 million, representing a stable performance.
The consolidated earnings per share were 97 fils for the nine months ended 30 September 2026, compared with 136 fils for the same period in 2025. The decrease primarily reflects the impact of the one-off provisions described above.
On the solid results, Sheikh Nasser Bin Hamad Bin Nasser Al Thani, Chairman of the Board of Directors, said: "The first nine months of 2026 highlighted the strength of Ooredoo Kuwait Group’s business model and the benefits of our broad geographic presence. We delivered solid progress across the Group, with consolidated revenue increasing by 6% year-on-year to KD608 million and ebitda rising by 10% to KD255 million. This growth translated into a stronger ebitda margin of 42%, while our customer base expanded to 29.1 million, up 7% from the previous year, reflecting healthy demand across our operations."
"Our results were driven by strong execution in several markets, particularly Algeria, Tunisia and Palestine. In Kuwait, handset supply-chain constraints continued to affect commercial performance, impacting revenue growth while supporting profitability through a more favourable revenue mix. Reported net profit attributable to NMTC was affected by a non-recurring provision relating to a legacy legal matter in Algeria. Adjusting for this item, the Group generated normalized net profit of KD72 million, underscoring the stability and durability of our core business" he noted.
"As we move forward, our priorities remain clear. We will continue enhancing our products and services, advancing our digital and network capabilities, and maintaining a disciplined approach to cost management and investment. Supported by a strong operational foundation and a clear strategic roadmap, we remain well positioned to deliver sustainable performance and generate long-term value for shareholders, customers and the communities in which we operate," he added.
Abdulaziz Yaqoub Al Babtain, the CEO of Ooredoo Kuwait, said: "Our results for the first nine months of 2026 demonstrate the strength of Ooredoo Kuwait’s foundations and our ability to deliver solid operational performance amid regional developments and sector challenges."
"The improvement in operating profitability reflects the effectiveness of our strategy to increase efficiency, strengthen the quality of our revenue mix, and maintain disciplined resource management and investment, supporting business sustainability and enhancing shareholder value," he stated.
"Ooredoo continues to consolidate its leadership in Kuwait’s technology and telecommunications sector, supported by strategic investments in digital infrastructure, advanced technological capabilities, and institutional expertise that positions us for the next phase of development. Our achievements in network development and the expansion of our digital capabilities have established a strong foundation from which to lead the sector’s transformation and help shape its future direction," noted Al Babtain.
"Technological advancement remains central to our investment and operational decisions. We continue to expand the use of artificial intelligence, data analytics, and automation to improve productivity and operational efficiency, while strengthening our ability to respond swiftly to change These capabilities reinforce our competitive position as a leading technology company and prepare our business for a new phase of growth driven by innovation and value creation," he added.-TradeArabia News Service
