Saudi Telecom Company

Leading the Digital Transformation in the Middle East

“Driving digital, connecting the world, and enriching lives.”
— stc Group Motto

Founded in 1998, Saudi Telecom Company (stc Group) has evolved from a traditional telecommunications provider into a comprehensive digital enabler, offering a wide array of services across the Middle East, North Africa, and Europe. Headquartered in Riyadh, Saudi Arabia, stc Group has established itself as a leader in the ICT sector, providing services ranging from mobile and fixed-line telephony to broadband, cloud computing, and digital payments.

Global Presence and Subsidiaries

stc Group’s expansive operations are supported by over 13 subsidiaries, including:

• stc Bahrain and stc Kuwait: Extending mobile and internet services in the Gulf region.
• TAWAL: Managing telecommunications infrastructure.
• stc pay: A pioneering digital wallet and fintech platform.
• Solutions by stc: Providing advanced ICT solutions.
• Center3: Focusing on data center and cloud services.

These subsidiaries enable stc Group to deliver integrated services, fostering digital transformation across various sectors.

Financial Performance: Sustained Growth and Profitability

In the fiscal year 2023, stc Group reported robust financial results:

• Revenue: SAR 72.3 billion, a 7.3% increase from the previous year.
• Net Profit: SAR 13.3 billion, reflecting a 9.2% year-over-year growth.

This financial strength underscores stc Group’s commitment to delivering value to shareholders and investing in future growth opportunities.

Innovation and Technological Advancements

stc Group is at the forefront of technological innovation:

• 5G Deployment: Successfully launched 5G networks, enhancing connectivity and enabling new services.
• Digital Services: Offering IPTV, cloud computing, and cybersecurity solutions.
• Fintech Leadership: Through stc pay, the group has become a leading player in digital payments, with Western Union acquiring a 15% stake at a $1.3 billion valuation.

These initiatives position stc Group as a catalyst for digital transformation in the region.

Strategic Investments and Partnerships

stc Group actively pursues strategic investments to expand its global footprint:

• Telefónica Stake: Acquired a 9.9% stake in the Spanish multinational, enhancing its presence in Europe.
• Alibaba Cloud Partnership: Collaborated to launch cloud services in Saudi Arabia, supporting local businesses.
• InspireU Accelerator: Supports startups in digital innovation, contributing to the Kingdom’s Vision 2030 goals.

These partnerships reflect stc Group’s commitment to fostering innovation and economic development.

Leadership and Vision

Under the leadership of Chairman HRH Prince Mohammed K.A. Al-Faisal and CEO Olayan bin Mohammed Alwetaid, stc Group continues to drive digital transformation, aligning with national objectives and global trends.