Bahraini telecoms group Batelco has announced its financial results for the twelve months ended 31 December 2020, reporting a 10% year-on-year rise in net profit to BHD56.7 million (USD149.5 million), up from BHD51.6 million in 2019, which the company highlights was mainly attributable to a 10% reduction in operating costs. Annual revenues fell 4% year-on-year to BHD387.3 million, compared with BHD401.5 million in 2019, while annual operating profit increased 7% to BHD81.1 million and EBITDA was 9% higher at BHD141.7 million. The company notes it retains a ‘healthy’ EBITDA margin of 40%, compared to 35% in 2019.
Batelco Chairman Sheikh Abdulla bin Khalifa Al Khalifa commented: ‘During the year key investments were made in the further development of 5G, which we activated across all four governorates of Bahrain covering 95% of the nation’s population. We also launched our latest Tier III data centre, which is the largest enterprise data centre in Bahrain. Going forward, Batelco will continue to play its part in providing innovative digital services. This is in line with our vision and being a proud member of Team Bahrain, following the directives of the Kingdom’s fifth National Telecommunication Plan, and supporting the telecom sector in accordance to the Kingdom’s vision for digital economy.’