Batelco revenues drop 1% in 1Q17

5 May 2017

Bahrain Telecommunications Company (Batelco Group) has reported a 1% year-on-year fall in revenues in the three-month period ended 31 March 2017. During that quarter gross revenue dropped to BHD89.7 million (USD236.3 million) from BHD90.9 million in 1Q16. EBITDA reduced by 8% year-on-year, totalling BHD32.3 million in the quarter ended 31 March 2017 compared with BHD35.1 million in Q1 2016. EBITDA did, however, increase 7% from the previous quarter, with the group attributing its sustained strong EBITDA margin of 36% to its cost containment programme. Net profit was down 14% from the year-ago period, amounting to BHD8.2 million in Q1 2017, although once again this marked an increase on the previous quarter, rising by 58% from the three-month period ended 31 December 2016. The firm said net profit for Q1 2017 was impacted by a BHD1.5 million share of loss from its associate in Yemen.

In operational terms Batelco’s subscriber base increased 2% year-on-year to 9.2 million in 1Q17. Batelco Group CEO Ihab Hinnawi said that customers’ needs continue to evolve in line with global trends towards a digital world marked by smart home and smart city living.

Bahrain, Bahrain Telecommunications Company (Batelco)