VIVA Kuwait, achieves strong 2011 financial performance
VIVA Kuwait, one of STC Group’s subsidiary, and one of the newest and most advanced mobile telecommunications service provider, posted operating revenues of KD 94million in 2011 (+47% versus 2010) with operating profit before the deducting the cost of depreciation, amortization expenses and financing expenses totaling KD 0.5million. Despite fierce competition in the telecom sector in Kuwait, VIVA Kuwait has been successful in attracting more than one million subscribers on its network in less than three years, reaching 20% of the Kuwaiti telecommunications market share by the end of 2011. Over the same period, VIVA Kuwait has become the second largest data service provider in the country by providing ‘broadband’ services through various attractive and state-of-the-art smartphone packages.
Commenting on the positive financial results of VIVA Kuwait, Ghassan Hasbani, STC International Operations CEO, said that “Viva Kuwait has succeeded in attaining a positive EBITDA at the end of 2011. The company’s accomplishment is really attributed to its ground-breaking approach to branding and services,” he added. “This achievement”, Hasbani said, “showcases a successful entry of a third operator in such a competitive market.” The CEO applauded the contributions of VIVA Kuwait to STC Group’s economic clout. “VIVA Kuwait is a very important asset to the Group and is greatly benefiting from the sweeping global synergies blueprint of STC group of companies,” he pointed out.
VIVA Kuwait has recorded a number of achievements this year that exhibit the company’s progress and growth, these include being awarded the ISO certification for the second consecutive year, following a rigorous assessment of its quality management system and services provided to clients. VIVA Kuwait has also launched a number of services, including VIVA Elite, a program providing customers with personal assistant services; the launch of a new range of data roaming packages so customers can now enjoy VIVA’s roaming services in more than 50 countries; adding new enhancements to Kuwait’s fastest internet service that delivers data at speeds of up to 42.2 Mbps; and the launch of an exclusive prepaid plan which targets the youth, allowing them to enjoy VIVA’s latest telecom services at affordable prices.