Batelco’s Q1 profits up 8% year-on-year, although revenues fall 2% quarter-on-quarter

1 May 2014

Bahrain’s Batelco Group’s total revenues stood at BHD97.6 million (USD258.9 million) in the three months to the end of March 2014, a 2% decline over the previous quarter, although 37% higher year-on-year (due to the acquisition of the overseas ‘Islands’ portfolio of companies effective 3 April 2013). Consolidated net profit in 1Q14 improved by 8% year-on-year and 110% quarter-on-quarter to BHD14.5 million, while EBITDA for the three-month period climbed 17% q-o-q to BHD38.1 million (a margin of 39%), representing a 74% improvement versus EBITDA of BHD21.9 million (and margin of 31%) in the corresponding period in 2013. The increased net income and EBITDA in 1Q14 were attributed to the ongoing positive impact of Batelco’s overseas operations as well as satisfactory performance in its home market, with 57% of revenues and 54% of EBITDA now generated from markets outside of Bahrain. The group’s total telecoms subscriber base stood at 9.1 million at 31 March 2014, an increase of 2% q-o-q and 19% y-o-y, including 19% y-o-y growth in mobile customers and 27% growth of the broadband subscriber base over a year.

Bahrain, Bahrain Telecommunications Company (Batelco)