stc continues to maximize revenues from various segments: CEO

Olayan Alwetaid, CEO of stc Group, delves deep into the TASI-listed telecom provider’s YTD and future performance 

Olayan Alwetaid, CEO of stc Group, said the group continues to maximize its revenues from various business segments, highlighting the on-track implementation of its strategic cost efficiency program in order to achieve sustainable profitability and maximize shareholder value.

The group recorded revenue growth of 2.6% in 9M 2025, while EBITDA and net profit (after excluding non-recurring items) increased by 5.7% and 14.8%, respectively.

“This performance reflects the Group’s success in implementing its strategy aimed at strengthening its leadership in the telecommunications sector, making targeted investments in digital infrastructure and the development of digital services and solutions,” Alwetaid was quoted as saying in stc’s latest investor presentation.

The CEO highlighted stc’s ongoing contribution towards strengthening the local and regional digital infrastructure.

Its subsidiary, Digital Centers for Data and Communication Co. (center3), recently announced an investment plan worth SAR 37.5 billion, aimed at accelerating the expansion and development of its data center infrastructure to reach a total capacity of one gigawatt by 2030.

“This strategic direction comes in response to the growing demand for [artificial intelligence (AI)] and cloud computing services, reinforcing the Kingdom’s position as a strategic digital hub in the region,” the top executive stated.

Additionally, center3 signed a strategic agreement with HUMAIN, a subsidiary of the Public Investment Fund (PIF), to provide secure, high-efficiency connectivity both domestically and internationally, hence supporting HUMAIN’s AI ecosystem.

According to Alwetaid, this partnership is deemed “a significant step” toward developing and diversifying Saudi Arabia’s digital economy. It should also underpin the Kingdom’s position as a leading global hub in the field of AI.

Another strategic partnership was sealed with Red Sea Global, with more than SAR 1.2 billion in investments, enabling stc to build advanced digital infrastructure and provide cutting-edge connectivity services for Red Sea destinations.

Reinforcing the digital transformation of Saudi giga projects, this investment is among the largest in the Saudi tourism sector, cementing the Kingdom’s position in developing smart destinations globally while supporting the objectives of the national digital economy.

The group also rolled out the Business-Critical Network — the latest in private wireless communication networks and the first of its kind in Saudi Arabia. It delivers high-speed, reliable and encrypted communication capabilities, empowering industries to operate with unparalleled efficiency and resilience while meeting future requirements through AI, edge computing, and the Internet of Things.

As part of its pioneering role in bolstering various national activities, stc has forged several strategic partnerships in the sports field. It joined forces with Thmanyah in a deal extending until 2031, to enhance the experience of upcoming Saudi football tournaments. In esports, it partnered with the Saudi Esports Federation to expand its Job Attachment Program, fostering the development of future digital skills.

Elsewhere, in tourism, the group sponsored the first edition of the TOURISE 2025 forum, in collaboration with the Saudi Tourism Authority, supporting the development of innovative technological solutions that empower the local tourism sector and solidifies the Kingdom’s position as a leading global destination.

Alwetaid also noted stc’s contribution to the national economy, underlining a 14% increase in the local content score, reaching 50.7% in 2025, with total annual spending of SAR 21.31 billion.

The CEO ascribed that as a direct outcome of the Rawafed program, which focuses on maximizing local spending, fostering innovation, attracting investments, and enriching local talent.

“This reflects stc’s commitment to continue developing the local content ecosystem and contributing to the building of a sustainable digital future,” he concluded.