Ooredoo Kuwait Group reported strong 11% growth in revenue to reach KWD 197 million in Q1 2026

Earnings per share of 44 fils

Sheikh Nasser bin Hamad bin Nasser Al Thani:
Ooredoo Kuwait delivered a strong performance during the first quarter, driven by growth in service revenues and effective cost management.
• The Group continues to focus on advancing its strategic priorities through selective investments.

Abdulaziz Yaqoub Al-Babtain:
We successfully maintained our leadership position in the Kuwaiti market during the first quarter.
• We continue to work at a strong pace to enhance our digital services and strengthen our strategic partnerships.

Kuwait City, Kuwait: National Mobile Telecommunications Company K.S.C.P “Ooredoo” (Ticker: OOREDOO) announced today its financial results for the quarter ended 31^st March 2026:

 Financial Highlights:

• Consolidated revenue increased by 11% to reach KWD 197 million in Q1 2026, compared to KWD 178 million in Q1 2025. Revenue growth was supported by the strong operational performance in Algeria, Tunisia, Kuwait and Palestine.
• Consolidated customer base increased by 5% to reach 27.7 million in Q1 2026 compared to 26.3 million in Q1 2025.
• EBITDA increased by 15% in Q1 2026 to reach KWD 80 million compared to KWD 70 million in Q1 2025.
• Net profit attributable to NMTC increased by 21% to reach KWD 22 million in Q1 2026 compared to KWD 18 million in Q1 2025.
• The consolidated earnings per share was 44 fils in Q1 2026, compared to 36 fils earned in Q1 2025.

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

“NMTC has started 2026 on a solid footing, delivering a strong performance in the first quarter, supported by sustained momentum across our core markets, led by Ooredoo Kuwait. Consolidated revenue increased by 11% year-on-year to KWD 197 million, while EBITDA grew by 15% to KWD 80 million, expanding the EBITDA margin to 41%. Net profit attributable to NMTC rose by 21% year-on-year to KWD 22 million, reflecting disciplined execution across the Group.

Kuwait delivered a strong performance in the quarter, driven by higher service revenues and supported by disciplined cost management. Algeria and Tunisia maintained their strong growth momentum, driven by data, digital and fixed-services demand, while the Maldives delivered a resilient performance, improving profitability and maintaining its network leadership. Across our operations, we remain focused on enhancing network quality, expanding high-speed connectivity and strengthening customer experience, contributing to a 5% year-on-year increase in our customer base to 27.7 million.

Looking ahead, we remain focused on advancing our strategic priorities, investing selectively to sustain profitable growth and delivering long-term value for our shareholders.”

Statement by Mr. Abdulaziz Al-Babtain, CEO of Ooredoo Kuwait:

“Ooredoo Kuwait continues to deliver strong performance, reflecting the clarity of its strategy and the resilience of its business model. In the first quarter of 2026, we successfully maintained our leading position in the Kuwaiti market by focusing on service quality and delivering integrated digital solutions that meet the evolving needs of our diverse customer segments. Our continued investments in network infrastructure development, the expansion of 5G services, and the launch of innovative initiatives aimed at enhancing customer experience have all contributed to achieving sustainable growth in both revenues and profitability.

We also maintain strong momentum in advancing our digital services and strengthening strategic partnerships across both the public and private sectors, supporting our vision to evolve into a fully integrated provider of digital solutions and smart lifestyle services. We remain committed to supporting the national economy by empowering small and medium-sized enterprises and actively contributing to development initiatives.

Ooredoo Kuwait’s leading position in the study issued by the Kuwait Investment Company, and its outperformance in the telecommunications sector in terms of user market share and sustained growth over the past five years, reflect the success of our strategy one that is firmly cantered on innovation, operational efficiency, and maximizing value for both customers and shareholders.

Looking ahead, we will continue to build on this momentum by investing in advanced technologies, expanding our digital offerings, and further enhancing customer experience, ensuring sustainable growth and reinforcing our leadership in Kuwait’s telecommunications market.”

Review of Operations

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

Ooredoo - Kuwait

Ooredoo's customer base in Kuwait stood at 2.9 million customers in Q1 2026. The company’s revenue increased by 3% to KWD 67 million in Q1 2026 compared to KWD 65 million in Q1 2025. EBITDA increased by 8% to KWD 24 million in Q1 2026 compared to KWD 22 million in Q1 2025.

Ooredoo - Tunisia

Ooredoo’s customer base in Tunisia increased by 5% to 7.3 million customers in Q1 2026. Revenue increased by 19% to KWD 37 million in Q1 2026 compared to KWD 31 million in Q1 2025. EBITDA increased by 28% to KWD 15 million in Q1 2026 compared to KWD 12 million in Q1 2025.

Ooredoo - Algeria

Ooredoo Algeria’s customer base increased by 7% to reach 15.6 million customers in Q1 2026. Revenue increased by 16% to KWD 73 million in Q1 2026 compared to KWD 63 million in Q1 2025. EBITDA increased by 18% to KWD 32 million in Q1 2026 compared to KWD 27 million in Q1 2025.

Ooredoo - Palestine

Customer base in Palestine stood at 1.5 million customers in Q1 2026. Revenue increased by 10% to KWD 9 million in Q1 2026 compared to KWD 8 million in Q1 2025. EBITDA increased by 13% to reach KWD 3 million in Q1 2026.

Ooredoo - Maldives

Customer base in Maldives increased by 1% to 429 thousand customers in Q1 2026. Revenue stood at KWD 11 million in Q1 2026. EBITDA increased by 4% to reach KWD 6 million in Q1 2026.