During the year that saw solutions by stc being awarded significant new engagements by some of the Kingdom’s most prestigious entities, we also strengthened our leadership as the Kingdom of Saudi Arabia’s most effective and diverse digital disruptor. As we remain at the forefront of ICT innovation, we continue to anticipate, as well as participate, in new discoveries, initiating application development and implementation capabilities.

Pivotal partnerships

In transforming the technology landscape for both public and private sectors, solutions by stc’s contribution to the national economy continues on its growth trajectory. In 2024, we became one of the first companies in the Kingdom to receive Category A qualification to practice digital government business under the shared revenue model. Issued by the Digital Government Authority, this qualification certifies solutions by stc to deliver services on behalf of public sector entities under the Public-Private Partnership (PPP) model, highlighting our advanced capabilities in providing innovative technology to the highest industry standards.

In our capacity as one of the few qualified PPP entities, we signed a landmark PPP with Remat Al-Riyadh, the development arm for Riyadh Region Municipality, which will contribute to the recurring revenue stream of our Company for the next 10 years.

The massive project to establish, develop, and manage smart public parking services for vehicles in Riyadh will target 164,000 public parking spaces covering 12 zones in the city. The total value of the contract has the potential to exceed 5% of our recorded revenue based on the last audited financials at the time of the agreement.

Similarly, a 5-year agreement with Saudi Aramco to provide and manage computing devices and peripherals for all Aramco sites within the Kingdom is a landmark deal which may also exceed 5% of our revenue recorded, based on the last audited financials at the time of the agreement. In addition to the substantial income potential, these 2 partnerships alone are an outstanding endorsement of solutions by stc’s capabilities and expertise.

solutions by stc signed an agreement with the Ministry of Culture for the Incubators Project, with the contract valued at % 217 million. The project delivers professional consulting and operational services that foster transparency and adhere to high standards of governance in the Kingdom. In addition, it provides the essential tools and frameworks to support businesses in process design, enabling ministry-affiliated entities to focus on their core functions. This model emphasizes efficiency, empowerment, and productivity, with operational tasks structured to serve customers through specialized departments. It further allows for f lexible adjustments in capacity as needed.

solutions by stc in a global context

solutions by stc have always played a leading communications role in the Middle East and in 2024 we continued to broaden our horizons in terms of solutions and partnerships. In collaboration with the world’s largest technology innovators, we maintained our strategy of building engagement models and joint business plans with hyperscalers and other technology providers and partners, such as Google/CNTXT, Oracle, VMware, IBM, and Huawei Cloud. Through our alliances with the industry’s most prominent digital organizations, we are able to provide localized and customer-centric solutions. In recognition of our success with these titans of technology, solutions by stc received a host of accreditations.

Strategic alliances

As solutions by stc builds upon its scope of services and capabilities for the future, we have entered into a number of agreements which will enhance ICT technology for both public and private enterprises alike. In a major step forward for transformation of network technologies, we signed an agreement with Mavenir to launch the first commercial Open RAN network in Saudi Arabia as part of our mission to enable greater flexibility, interoperability, and innovation in network deployment.

By forging partnerships to break into new territories and broaden our customer base, solutions by stc’s completion of a 40% stake in Devoteam Middle East in 2024 will strengthen our focus on strengthening our capabilities in digital consulting and emerging business sectors.

In addition, a joint venture with US-based Nile, a leading provider of Network as a Service, will increase system reliability and optimize business operations through network management powered by AI technology.

As part of our Cloud roadmap, we launched a new SSL Certificate add-on in late 2024, which will support customers as part of our broad product suite.

Solid financial performance

In translating services to revenue, solutions by stc’s retention of existing clients and growth in new customers have been significant. Our mission to make state-of-the-art technology the fulcrum of business success in the region has highlighted our crucial role as the most advanced ICT provider in the Kingdom.

Digital services were among the key growth drivers for solutions by stc, contributing to % 1,929 million in revenue for the year, compared to % 1,784 million in 2023, reflecting an 8.1% increase.

Services and Solutions in 2025

solutions by stc has consistently increased its ambitions and has nurtured a service synonymous with integrity, reliability, and progress. In maintaining that ICT leadership status, we surpassed our own rigorous standards for the year, exceeding KPIs in terms of business and portfolio growth, diversification, cost optimization, and greater productivity in projects and delivery.

As the worlds of invention and technology continue to accelerate at such an unprecedented pace, solutions by stc has played an integral role in ensuring the MENA region is at the forefront of innovation. Through partnerships, acquisitions, and a mix of business models that delivers unwavering support and flexibility to our clients, we remain the most effective driver of digital transformation, and a regional focal point of connectivity.