stc group Reports Strong Q1 2026 Growth, Boosts Digital Expansion Strategy
stc group CEO Eng. Olayan Alwetaid stated that the group began 2026 with strong operational and financial momentum, successfully translating the group’s strategy into tangible ......
Black News 
stc group CEO Eng. Olayan Alwetaid stated that the group began 2026 with strong operational and financial momentum, successfully translating the group’s strategy into tangible growth and reinforcing its role in the digital economy. In the first quarter, the group achieved a 3.8% increase in revenue, 7.1% EBITDA growth, and a rise in net profit (after excluding non-recurring items) by 12% compared to the same quarter last year. These results demonstrate a robust business model and an effective balance between investments opportunities, operational efficiency, and digital infrastructure development, supporting sustainable and competitive long-term growth.
The GCEO highlighted the group’s continued execution of its strategy to expand regional digital infrastructure through the Silklink project. This initiative, in partnership with the Syrian Sovereign Fund and an investment of 3 billion, aims to implement telecommunications infrastructure in Syria. The project is a significant step toward building a cross-border digital ecosystem by developing advanced infrastructure that connects Syria regionally and internationally through a fiber-optic network of over 4,500 kilometers, as well as data centers and international submarine cable landing stations. This strengthens stc’s role in supporting regional digital connectivity and creates new opportunities for growth and expansion in telecommunications and digital services.
Further, stc supported millions of Riyadh Season visitors with advanced telecommunications and digital services, demonstrating efficient service delivery during peak periods. The group also showed high readiness during Ramadan by serving Umrah performers and visitors to the Two Holy Mosques through enhanced infrastructure and increased operational capacity, meeting rising data and voice traffic demands. During Ramadan, internet data traffic rose by more than 21% at the Grand Mosque and over 40% at the Prophet’s Mosque year-on-year, with 5G accounting for over 48% of traffic. These results highlight the efficiency of stc’s digital infrastructure and its ability to provide reliable, high-quality connectivity to visitors worldwide.
To advance local content and national capabilities, the group enhanced its role in building a resilient and sustainable digital ecosystem by localizing technologies, developing supply chains, and enabling national partners. In 2026, the group participated in the Private Sector Forum and signed several agreements to boost local content, expand supplier networks, and support national partners in workforce training and technological advancement. These efforts strengthened local digital industries, advanced the telecommunications and IT sector, and improved global competitiveness.
On the institutional excellence and innovation front, the group continued to cement its digital maturity by embedding best practices in data governance, which enable innovation, improve business efficiency, and support reliable decision-making. This progress was recognized by two data governance awards received across the Middle East, reflecting stc’s achievements in building an advanced digital ecosystem.
The GCEO concluded that in the first quarter of 2026, the group demonstrated its ability to execute its strategy, achieve objectives, and strengthen its leadership in telecommunications and technology. This maximized its contribution to the national and digital economy and enhanced its societal impact. The group’s efforts reinforce its role as a key partner in digital transformation across the Kingdom and region, in alignment with Saudi Vision 2030.
