Batelco posts revenue increase of 7% in 2018

25 Feb 2019

Bahrain-based Batelco Group has recorded full-year 2018 gross revenue of BHD405.9 million (USD1.1 billion), up 7% from the year-ago figure of BHD379.4 million. The group also stated that net profit rose from BHD3.5 million in 2017 to BHD50.1 million in the twelve months ended 31 December 2018, noting that its 2017 net profit was adversely affected by impairment losses in relation to its investments in Yemen and Jordan. Operating profit grew at a healthy rate of 25% to BHD72.7 million in 2018, compared to BHD58.4 million the previous year, while group EBITDA also grew 15% year-on-year to BHD142.8 million.

Batelco’s total subscriber base did fall, however, from 9.4 million in 2017 to 8.6 million one year later, representing a drop of 9%.

Bahrain, Bahrain Telecommunications Company (Batelco)