Bahrain-based Batelco Group has published its third quarter 2018 financial results, recording revenue of BHD101.5 million (USD266.6 million), an increase of 5% from BHD96.5 million in the year-ago quarter. Batelco also reported strong growth in operating profit for the three months ended 30 September 2018, totalling BHD20.0 million, up 78% from BHD11.3 million one year earlier. In terms of group EBITDA, Batelco saw year-on-year growth of 33% from BHD27.2 million to BHD36.3 million.
Batelco Group CEO Ihab Hinnawi explained that the group’s strong revenue and EBITDA growth was largely down to the successful implementation of its transformational strategy and investment in fixed LTE, fibre-optic and digital solutions across all of its operations: ‘We continue to reap the fruit of our efforts and have sustained the momentum established in the first half of this year, with strong performances in the third quarter, particularly at Batelco Bahrain, Umniah in Jordan and Dhiraagu in the Maldives.’ Hinnawi went on to say that in operational terms, the increased number of broadband customers contributed significantly to growing revenues, with year-on-year growth of 9% in the total group-wide broadband subscriber base. The CEO noted that fixed broadband customers in Bahrain were up 16% year-on-year in Q3 2018, while in Jordan and the Maldives, Batelco’s fixed broadband users increased by 49% and 42% respectively.