Ooredoo Kuwait Group Maintains Steady Growth, with Revenue Up 6% and EBITDA Growth Exceeding 10%

Kuwait City, Kuwait: National Mobile Telecommunications Company K.S.C.P (Ooredoo) (Ticker: OOREDOO) today announced its financial results for the nine months ended 30 September 2026:

 

Consolidated revenue increased by 6% to KWD 608 million for the nine months ended 30 September 2026, compared with KWD 573 million for the same period in 2025. Revenue growth was supported by strong underlying business performance.

 

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.

 

EBITDA increased by 10% to KWD 255 million for the nine months ended 30 September 2026 compared with KWD 232 million for the same period in 2025. Normalizing for the impact of the one-off bad debt provision recognised in the nine months ended 30 September 2025, EBITDA increased by 8% YoY.

 

Net profit attributable to NMTC decreased by 29% to KWD 48 million for the nine months ended 30 September 2026 from KWD 68 million for the same period in 2025. The decrease was mainly due to the recognition of a one-off provision of KWD 23.5 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. 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 KWD 72 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.

 

 

“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 KWD 608 million and EBITDA rising by 10% to KWD 255 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 KWD 72 million, underscoring the stability and durability of our core business.

 

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.”

 

 

“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.

 

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.

 

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.

 

Our strategy combines effective management of current operations with consistent investment in future capabilities. We direct capital towards areas with lasting strategic impact, develop our people, and strengthen the integration of technology with business performance. This approach sustains our competitive advantage and enables us to translate rapid challenges into opportunities that support growth and strengthen resilience.

 

Our leadership carries a national responsibility that we are proud to uphold advancing digital transformation and strengthening Kuwait’s competitiveness. Advanced infrastructure, investment in Kuwaiti talent, and a broader network of strategic partnerships are essential foundations for a more diversified and productive economy. They also reinforce Ooredoo’s role as a key partner in achieving the objectives of Kuwait Vision 2035.

 

We continue to execute our priorities with confidence and discipline, supported by the strength of our business and the clarity of our strategic direction. Our focus remains on reinforcing Ooredoo’s technology leadership in Kuwait and delivering sustainable growth through innovation and efficiency, creating long-term value for our shareholders and the national economy.”

 

 

 

 

Ooredoo Kuwait’s customer base decreased by 4% to 2.8 million as at 30 September 2026. Revenue decreased by 4% to KWD 196 million for the nine months ended 30 September 2026 compared with KWD 204 million for the same period in 2025, primarily due to lower device sales resulting from delays in handset shipments caused by regional geopolitical developments and related supply chain disruptions. EBITDA, however, increased by 12% to KWD 73 million compared with KWD 65 million for the same period in 2025. EBITDA for the comparative period was impacted by a one-off bad debt provision recognised in accordance with the Company’s standard policy. Normalizing for this provision, EBITDA increased by 6% YoY.

 

 

Ooredoo Tunisia’s customer base increased by 1% to 7.5 million as at 30 September 2026. Revenue increased by 11% to KWD 119 million for the nine months ended 30 September 2026 compared with KWD 107 million for the same period in 2025. EBITDA increased by 12% to KWD 51 million compared with KWD 45 million for the same period in 2025.

 

 

Ooredoo Algeria’s customer base increased by 12% to reach 16.8 million as at 30 September 2026. Revenue increased by 13% to KWD 233 million for the nine months ended 30 September 2026 compared with KWD 205 million for the same period in 2025. EBITDA increased by 7% to KWD 101 million compared with KWD 94 million for the same period in 2025.

 

 

Ooredoo Palestine’s customer base decreased by 1% to 1.5 million as at 30 September 2026. Revenue increased by 16% to KWD 28 million for the nine months ended 30 September 2026 compared with KWD 24 million for the same period in 2025. EBITDA increased by 25% to KWD 12 million compared with KWD 9 million for the same period in 2025.

 

 

Ooredoo Maldives’ customer base increased by 5% to 443 thousand as at 30 September 2026. Revenue increased by 2% to KWD 33 million for the nine months ended 30 September 2026. EBITDA increased by 3% to KWD 19 million compared with KWD 18 million for the same period in 2025.