Page 48 - SAMENA Trends - March-April 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

on expanding the Company’s operations,
especially in the enterprise sector. This
has contributed in achieving stc's desire to
support its internal capabilities, enhance
its market share, and upgrade its customer
experience. Commenting on the company's
financial position as at 31 December
2022 Dr. Mahmoud, stated: "stc’s total
assets reached KD 424.4 mn by the end of
December 2022, while total shareholders'
equity increased by 2% reaching KD 241.4
mn. Moreover, stc has a strong solvency
position among its peers in the Middle East.”
Dr. Abdulrahman commented on the cash
dividend recommendation of 30% of the
Company's total capital for the fiscal year
ended December 31, 2022, saying: “stc has
demonstrated its capacity by maintaining
good cash flows resulted from adopting
its successful business model as well as
financial planning that ensure good financial
returns and results that would enable the the traditional telecommunications sector the announcement of company’s financial
company to distribute sustainable cash due to acquiring the most sophisticated results for the year ended December
dividends on an annual basis, and in the 5G network as well as solid infrastructure 31, 2022, Eng. Maziad Alharbi said: “stc
best interest of the company's valued that shall fulfill all the customer needs.” proudly managed to achieve strong
shareholders.” Commenting on stc’s Alharbi noted: “stc’s strategic expansion financial results in 2022, recording the
achievements in 2022, Eng. Maziad Alharbi, in April 2022 through the acquisition highest total revenue since inception to
stc’s CEO stated: “stc’s robust results of E-Portal Holding Company and its reach KD 336.4 mn with a growth rate of
during the financial year ended in December subsidiaries demonstrated the Company’s 13.5% in 2022, compared with KD 296.3
2022, demonstrated the successful success in creating strong and solid mn last year. This growth in revenue was
implementation of its corporate strategy grounds to achieve the sustainable achieved with the significant support from
with all the operational and financial KPIs growth in the future through the holistic the increase in stc’s customer base which
adopted. This was the key factor behind operating model, which significantly has reached 2.3 million customers by the
reaching stc’s best results aimed at supports the strategic pillars of its digital end of December 2022, representing a rise
exceeding the aspiration of our customer’s transformation process. Our subsidiaries of 14.4% compared to December 2021.
in addition to placing stc amongst the solutions by stc and E-Portal specialized in Accordingly, EBITDA witnessed a growth
leading companies in Kuwait for digital in providing the latest business solutions of 3.1% to reach KD 82 mn in 2022 which
transformation and providing integrated play a key role in supporting the Company resulted in a net profit of KD 33.2 mn
technical solutions with a value added to to expand its operational model, ensure (earnings per share 33 fils) during 2022,
the traditional telecommunications sector. the best outcomes and capture all the driven by the increased revenue and the
This is considered as an added value to potential opportunities.” Commenting on efficiency of stc’s operational expenditure.”

Syniverse Introduces Evolved Mobility for

Outbound Roaming to Reduce OpEx for Mobile
Operators Retiring 3G Networks

Syniverse, “the world’s most connected from operators that have retired their 3G to reallocate spectrum resources and
company,” today announced the availability networks. This adds to the existing Inbound realize OpEx benefits associated with the
of a new key feature of Evolved Mobility, Roaming feature already available through retirement of their 3G networks. Retiring
the company’s Voice over LTE (VoLTE) Evolved Mobility to help mobile operators these networks has become a challenge for
roaming solution. The new Outbound sunset legacy networks without sacrificing operators looking to maintain best-in-class
Roaming feature, a first-of-its-kind solution, subscriber experience. With the continued roaming experiences for their subscribers
connects outbound roamers traveling growth of 5G, mobile operators are looking when they travel and must rely on operator

48 MARCH-APRIL 2023