Batelco Group has announced its financial results for the twelve month period ended 31 December 2014, reporting gross revenues of BHD389.7 million (USD1.03 billion), up 5% year-on-year from BHD370.6 million. EBITDA for 2014 increased 20% from BHD120.7 million to BHD144.7 million, while Batelco’s consolidated net profit grew 13% y-o-y from BHD43.6 million to BHD49.3 million, boosted by the inclusion of Batelco’s recently acquired ‘Island Portfolio’ assets.
In operational terms, Batelco Group’s total subscriber base passed 9.5 million, equating to 6% annual growth, with the company reporting increased data demand. In its domestic market, mobile subscriptions increased by 4% y-o-y to pass 900,000, while broadband user accounts grew by 15% y-o-y and fixed line accesses increased 1%.
Group chairman Shaikh Hamad Bin Abdulla Al Khalifa noted: ‘2014 was marked by strong cash generation and growing customer numbers across the Group, particularly in the home market of Bahrain and also at Umniah, Jordan and SURE CIIM (Channel Islands/Isle of Man). Our overseas operations, which become increasingly more central to our strategy, continue to deliver in line with our expectations.’