Batelco posts FY2016 net profit of BHD37.6m, down 24% y-o-y

23 Feb 2017

Bahrain Telecommunications Company (Batelco) has announced its financial results for the twelve months ended 31 December 2016. The group reported gross revenues of BHD367.1 million (USD966.6 million), representing a 1% increase on an annualised basis. EBITDA, however, decreased marginally during the twelve months under review, dropping to BHD135.2 million, a decline of 2% compared to the previous year. The telco achieved a net profit of BHD37.6 million for full-year 2016, down from BHD49.5 million in the twelve months ended 31 December 2015, representing a 24% year-on-year decline. Batelco credits the weakened bottom line to an impairment loss on goodwill related to its operations in Jordan. In operational terms, the company saw its subscriber base increase to 9.4 million as of 31 December 2016, a increase of 4% y-o-y.

Bahrain, Bahrain Telecommunications Company (Batelco)