Batelco net profit up 4% in Q2, revenues grow 7%

30 Jul 2021

Bahraini telecoms group Batelco has announced its financial results for the three months ended 30 June 2021, reporting a 3% year-on-year increase in net profit from BHD17.3 million (USD45.6 million) to BHD17.8 million. Revenues for the second quarter grew 7% y-o-y to BHD98.4 million, driven by increases in fixed broadband, adjacent services and wholesale revenues of 18%, 16% and 5% respectively, while operating profit rose 4% to BHD23.8 million. EBITDA stood at BHD41.7 million, an increase of 3% from BHD40.3 million in Q2 2020, with a ‘healthy’ EBITDA margin of 43%.

Commenting on the results, Batelco Chairman Shaikh Abdulla bin Khalifa Al Khalifa said: ‘Following a positive start to the year, we are glad to maintain the momentum, which is reflected in our financial results for the second quarter … Investments in growing our digital portfolio is in line with international trends and continues to be an important step in our strategic plans to ensure that Batelco is in a position to be a key player in the growth of Bahrain’s digital economy.’

Bahrain, Bahrain Telecommunications Company (Batelco)