Industry Updates

Zain Group, a leading provider of innovative ICT and digital lifestyle communications, operating in eight markets across the Middle East and Africa, announces its consolidated financial results for second quarter (Q2) and six-months (H1) ended 30 June 2025. Zain served 50.9 million customers at the end H1 2025, a 7% increase Year-on-Year (YOY), driven by network restoration in Sudan and expansion in Iraq.

Group Key Performance Indicators (KD and USD) for the first six months (H1) of 2025

Zain Group H1 2025 revenue soared 14% YoY to reach KD 1.1 billion (USD 3.5 billion). EBITDA grew 10% YoY to reach KD 356 million (USD 1.2 billion), reflecting an EBITDA margin of 33%. Net income for the first six months soared 49% YoY, reaching KD 121 million (USD 395 million). Net income for H1 2025 includes one-time gain of KD 15 million (USD 50 million) on settlement of legal dispute involving INWI, of which Zain Group is a 15.5% shareholder (via Zain Al Ajial). H1 2025 Earnings per share stood at 28 fils (USD 0.09).

Group Key Performance Indicators (KD and USD) for the second quarter (Q2) of 2025

Zain Group Q2 2025 revenue grew 13% to reach KD 541 million (USD 1.8 billion) compared to Q2 2024. EBITDA reached KD 186 million (USD 606 million), reflecting a healthy EBITDA margin of 34%. Net income soared 40% to reach KD 73 million (USD 237 million), reflecting earnings per share of 17 fils (USD 0.05).

Key Operational Highlights for H1 2025

1. The Board declares interim dividend of 10 fils per share for the 5th consecutive year, that will be payable to entitled shareholders on 3 September 2025.
2. Customer base increased 7% driven by network restoration in Sudan and site expansion in Iraq
3. Data revenue grew 8% YoY to reach USD 1.3 billion, representing 37% of total Group revenue
4. Over the six months, Zain Group invested USD 397 million in CAPEX (11% of revenue)
5. Operations in Kuwait, KSA, Bahrain and Jordan witness impressive growth in 5G revenues
6. Zain Kuwait and KSA launch 5G Advanced services enhancing digital innovation in these markets
7. Impressive net profit growth in Sudan (+101%), KSA (+28%) and Iraq (+23%) for H1 2025
8. Fintech revenue witnessed robust growth of 28% YoY, while transaction volume soared 46% YoY
9. Groupwide enterprise revenue witnessed 11% growth YoY, as ZainTECH and B2B teams win key business and government accounts, ZainTECH revenue soared 94% YoY
10. Groupwide digital services witness revenue growth of 7% driven by increase in Sudan and Kuwait
11. Zain Omantel International (ZOI) records exceptional revenue growth of 324% YoY; receives multiple industry awards for its innovative subsea and terrestrial networks
12. Zain launches ‘Bede’ Fintech Platform in Sudan offering money transfers, airtime top-ups, bill payments, merchant purchases, cash deposits and withdrawals
13. Launch of “WE ABLE 2030” Vision aiming to safeguard people with disabilities in the ‘AI’ era
14. Zain Inclusion, Diversity & Equity University (IDEU) program wins prestigious EFMD Excellence Award
15. Published the 14th annual Sustainability Report, titled ‘The New Paradigm Shift’

Commenting on Q2 and H1 2025 results, Chairman of Zain Group, Mr. Osamah Al Furaih said, “The Group’s strong performance underscores the productive alliance between the Board and executive management teams of all our entities in delivering our ‘4WARD—Progress with Purpose’ strategy. Our focus on acceleration, collaboration, and digital innovation, alongside our ESG commitments, is having comprehensive impact on sustainable value creation for all stakeholders. Moreover, constructive relationships with regulators and key stakeholders are also driving meaningful connectivity across all customer segments.”

“Following this H1 2025 performance and solid financial position, the Board is pleased to declare a fifth consecutive interim dividend of 10 fils per share, in line with our minimum annual dividend policy of 35 fils.”

Mr. Bader Al-Kharafi, Zain Vice-Chairman and Group CEO commented, “Our outstanding operational and financial performance over the past six months is the result of carefully executed strategic investments in network expansion and AI technologies, combined with disciplined cost optimization and focused monetization of our enterprise, fintech, and digital service portfolios. We are committed to sustaining this positive momentum and elevating Zain to even greater heights.”

“Despite fierce competition in our home market of Kuwait—which still delivered solid results—our core operations across all major markets made notable strides. Sudan, Saudi Arabia, and Iraq, in particular, recorded exceptional double-digit net income growth. Furthermore, our ICT enterprise arm, ZainTECH, and our global wholesale carrier, Zain Omantel International (ZOI), performed exceptionally well, as did our fintech and digital service portfolios across multiple markets.”

Financial KPIs of key markets for three months and six-months period ended 30 June 2025

Kuwait: Zain Group's flagship and most profitable operation maintained its market leadership position, with a customer base of 2.6 million. Revenue for the second quarter reached KD 94 million (USD 306 million) while EBITDA reached KD 34m (USD 111m), reflecting an EBITDA margin of 36%. Net income stood at KD 23m (USD 74m). For the six-months period, net income stood at KD 41m (USD 132m). H1’ 2025 data revenue grew 2% representing 36% of total revenue. The operator is leading nationwide with its 5G-Advanced network that has the largest 5G customer base and revenue market share in the country, firmly placing the operator as the prime digital hub that is enhancing the country’s digital ecosystem for individual, enterprise and government customer segments.

Saudi Arabia: Revenue for the quarter grew 4% YoY to reach USD 708 million, while EBITDA grew 9% to reach USD 227m, reflecting an EBITDA margin of 32%. Net income for Q2 2025 grew 21% to USD 34m. For the six-months period, net income grew 28% to reach USD 59m. The operator’s 5G-Advanced network boosted data revenue by 4% to represent 40% of total revenue while total active customers served stood at 8.3 million. The operator saw significant growth in revenue from the enterprise sector and from its ‘Yaqoot’ digital operator service. Its fintech arm ‘Tamam’ is driving financial and digital inclusion across the Kingdom, providing instant approvals for micro-finance loans, continuing its upward trajectory, while breaking historical records on the number and amount of loans disbursed.

Iraq: Revenue diversification through Zain Iraq and affiliated companies, investment in network expansion and commercial focus drove exceptional revenue growth of 19% YoY, reaching USD 313m for Q2 2025. EBITDA grew to reach USD 116m, reflecting an EBITDA margin of 37%. Net profit grew 3% to reach USD 40m. For the six-months period, net income grew 23% to reach USD 66m. Customer base grew 10% to 20.9m customers, maintaining Zain’s leading position.

Sudan: The operator’s robust recovery plan saw a new data center established in Port Sudan while restoration of network sites in Khartoum and across the country boosted all major financial indicators. Revenue for Q2 2025 soared 87% YoY to reach USD 133 million, with strong EBITDA growth of 114% YoY, to reach USD 74m, reflecting an EBITDA margin of 56%. Net income for the Second quarter grew 76% YoY, to reach USD 59m. For the six-months period, net income soared 101% to reach USD 112m. H1 2025 data revenue grew 89%, representing 30% of total revenue. Customer base grew 17% to reach 11.8m.

Jordan: Expansion of 5G, FTTH and 4G services across the country drove 8% growth in revenue, reaching USD 148 million for Q2 2025. EBITDA for the quarter grew 3% YoY to reach USD 58m, reflecting an EBITDA margin of 39%, while net income for the second quarter grew 19% to reach USD 21m. For the six-months period, net income grew 14% to reach USD 39m. Data revenue for H1’25 grew 12%, representing 54% of total revenue. Customer base grew 5% to reach 4.2 million, maintaining its market leadership position.

Bahrain: Revenue for the quarter grew 7% to reach USD 54 million. EBITDA reached USD 15 million, reflecting an EBITDA margin of 28%. Net income for the second quarter increased 1% to reach USD 3.6 million. For the six-month period, net income grew 5% to reach USD 6.7 million), data revenue grew by 5% to represent 45% of total revenue. END

Source: Zain Press Release