Ooredoo Kuwait Group Delivers Strong Revenue Growth of 8% to Reach KWD 398 Million in the First Half of 2026

National Mobile Telecommunications Company K.S.C.P “Ooredoo” (Ticker: OOREDOO) announced today its financial results for the six-month period ended 30 June 2026:

Consolidated revenue increased by a healthy 8% to KWD 398 million in H1 2026, compared to KWD 367 million in H1 2025. Revenue growth was supported by the strong operational performance in Algeria, Tunisia and Palestine.

Consolidated customer base increased by 6% to 28 million in H1 2026 compared to 26.4 million in H1 2025.

EBITDA increased by 11% in H1 2026 to reach KWD 165 million compared to KWD 148 million in H1 2025.

Net profit attributable to NMTC decreased by 41% to reach KWD 25 million in H1 2026 from KWD 42 million in H1 2025. The decrease in net profit was mainly attributable to the recognition of a one-off provision of KWD 23,495 thousand in H1 2026 following the outcome of the final hearing before the Supreme Court of Algeria in June 2026 against one of the Group’s subsidiaries (Wataniya Telecom Algerie) in relation to claim filed by the Algerian Central Bank. Normalizing for the impact of this one-off provision, net profit attributable to NMTC increased by a robust 16% YoY. 

The consolidated earnings per share were 49 fils in H1 2026, compared to 83 fils earned in H1 2025. This decline is primarily attributed to the same impact mentioned above related to the one-off provision.  

Sheikh Nasser Bin Hamad Bin Nasser Al Thani, Chairman of the Board of Directors commented: 

“Ooredoo Kuwait Group delivered a strong operational and financial performance in the first half of 2026, reflecting the resilience of our diversified portfolio and continued momentum across our key markets. Consolidated revenue increased by 8% year-on-year to KWD 398 million, while EBITDA grew by 11% to KWD 165 million, supported by strong contributions from Algeria, Tunisia and Palestine. Our customer base also expanded by 6% to reach 28 million customers, demonstrating the continued strength of our brands and demand for our services.

Reported net profit attributable to NMTC was impacted by a one-off provision related to a legacy matter involving our Algerian subsidiary. Excluding this exceptional item, normalized net profit increased by a robust 16% year-on-year, providing a clearer reflection of the strength of our underlying performance. Across the Group, sustained topline growth and disciplined cost management continued to support profitability and operational efficiency.

Looking ahead, we remain confident in the Group’s strategic direction and long-term growth prospects. We will continue to strengthen our customer propositions, invest responsibly in our networks and digital capabilities, and maintain a disciplined approach to operational efficiency and capital allocation. Our focus remains firmly on delivering sustainable growth and creating long-term value for our customers, shareholders and the communities we serve.”

Strategic Partnerships

Abdulaziz Yaqoub Al-Babtain, Chief Executive Officer of Ooredoo Kuwait, commented:

“Ooredoo Kuwait’s operations demonstrated strong operational efficiency and a clear ability to maintain profitability during the first half of 2026, despite the challenges arising from intense competition and the rapidly evolving needs of customers. Revenue reached KWD 131 million, while EBITDA increased by 5% to KWD 47 million, compared with KWD 45 million during the same period last year. This growth reflects our success in enhancing operational efficiency, optimising costs and improving the quality of our revenue, thereby supporting the long-term sustainability of our business.

“EBITDA growth underscores the strength of our operating model and our ability to respond efficiently to market developments. We measure our performance not only through financial results, but also through the quality of our relationship with our customer base, the standard of the services we provide and the continuous improvement in customer satisfaction indicators. Our objective is to deliver a truly integrated customer experience that supports the Company’s sustainable growth and profitability.

“Our strategy in the Kuwaiti market is built around several key pillars, including enhancing the customer experience, accelerating digital transformation and continuing to invest prudently in our networks and technological infrastructure. We are also focused on developing innovative solutions for individual customers, businesses and government entities. In parallel, we continue to strengthen our capabilities in data, artificial intelligence and digital services to keep pace with the rapid changes taking place across the telecommunications sector and transform them into new growth opportunities.

“Strategic partnerships represent another fundamental pillar of Ooredoo Kuwait’s plans. We continue to develop high-impact partnerships with government entities, private-sector organisations and technology companies to create joint services and platforms, support innovation and contribute to accelerating digital transformation in the State of Kuwait. Through these partnerships, we aim to expand the scope of our business, create new revenue streams and reinforce Ooredoo’s position as a trusted and active strategic partner within Kuwait’s national development ecosystem.

“During the next phase, we will continue to focus on achieving sustainable, high-quality growth, enhancing operational efficiency and increasing the value delivered to our customers. We will also continue developing our service portfolio and expanding our presence across sectors with promising growth potential. We are confident that the clarity of our strategy, the strength of our technological infrastructure, the capabilities of our people and our strategic partnerships will enable Ooredoo Kuwait to enhance its competitiveness and deliver sustainable value to its customers, shareholders and the Kuwaiti community.”

Review of Operations

The Group’s operational performance can be summarised as follows:

Ooredoo – Kuwait 

Ooredoo Kuwait customer base decreased by 3% to 2.8 million customers in H1 2026. The company's revenue decreased by 2% to KWD 131 million in H1 2026 compared to KWD 133 million in H1 2025. EBITDA, however, increased by 5% to KWD 47 million in H1 2026 compared to KWD 45 million in H1 2025 driven by improvement in operational performance.

Ooredoo – Tunisia

Ooredoo’s customer base in Tunisia increased by 4% to reach 7.3 million customers in H1 2026. Revenue increased by 15% to KWD 77 million in H1 2026 compared to KWD 67 million in H1 2025. EBITDA increased by 15% to KWD 32 million in H1 2026 compared to KWD 28 million in H1 2025.

Ooredoo – Algeria

Ooredoo Algeria’s customer base increased by 10% to reach 15.9 million customers in H1 2026. Revenue increased by 16% to KWD 150 million in H1 2026 compared to KWD 129 million in H1 2025. EBITDA increased by 14% to KWD 65 million in H1 2026 compared to KWD 58 million in H1 2025.

Ooredoo – Palestine

Customer base in Palestine decreased by 1% to 1.5 million customers in H1 2026. Revenue increased by 18% to KWD 18 million in H1 2026 compared to KWD 16 million in H1 2025. EBITDA increased by 25% to reach KWD 8 million in H1 2026 compared to KWD 6 million in H1 2025.

Ooredoo - Maldives

Customer base in Maldives increased by 3% to 432 thousand customers in H1 2026. Revenue stood at KWD 22 million in H1 2026. EBITDA increased by 1% to reach KWD 12 million in H1 2026.

For more information, please visit www.ooredoo.com.kw