Bahrain: Beyon reports financial results for first quarter
The YoY decline in net profit is mainly due to additional taxes from the application of domestic minimum top-taxes (DMTT), effective January 1, 2025, and acquisition charges associated with the acquisitions completed in 2024.
Earnings per share (EPS) are 10.9 fils for the first quarter of 2025, compared to 11.4 fils in Q1 2024.
Total comprehensive income in Q1 2025 was reported at BD11.8m, a 70pc decrease from BD39.7m in the first quarter of 2024, mainly due to investment fair value changes.
Operating profit in Q1 2025 of BD26m is 4pc lower than BD27m reported in Q1 2024. EBITDA stands at BD45.4m in Q1 2025 compared to BD44.1m in Q1 2024, an increase of 3pc.
The company maintained a healthy EBITDA margin of 39pc in Q1 2025.
Revenues for the first quarter of 2025 increased by 6pc to BD117.6m compared to BD110.5m in Q1 2024, mainly due to increases in digital, wholesale, mobile and fixed broadband services.
Beyon's balance sheet remains strong with total equity of BD540.9m as of end-March 2025, 4pc lower than BD564.2m reported as of end-2024.
Total assets of BD1,255.4m as of end-2025 are in line with total assets of BD1,256m as of end-2024.
Net assets as of end-March 2025 which stand at BD595m are 4pc lower than BD621.8m reported as of end-2024.
The company reported cash and bank balances of BD138.4m as of end-2025.
Announcing the financial results for the first quarter of 2025 following a meeting of the board of directors yesterday, Beyon chairman Shaikh Abdulla bin Khalifa Al Khalifa said: 'The first quarter of 2025 was marked by continued top-line growth and momentum across Beyon's digital companies as well as our telecom and connectivity businesses. The performance reflected strong performance in digital services, wholesale, mobile, and fixed broadband. We also recorded a 3pc increase in EBITDA and sustained a robust EBITDA margin, demonstrating our operational efficiency and disciplined cost management. With a solid business strategy for the year and promising growth opportunities, we look forward to continuous achievements and success across Beyon's companies.'
He added: 'Due to the impact posed by non-operational factors such as the implementation of DMTT and acquisition-related charges following our 2024 expansion strategy, net profit saw a minor year-on-year decline. Both of these were anticipated external factors, and Beyon continues to be well-positioned to capture emerging opportunities built on its operational strengths.'
Shaikh Abdulla further said: 'This quarter sees us maintaining a healthy financial position, a strong balance sheet, and a clear strategic direction. Beyon continues to invest in innovation, infrastructure, and international expansion to deliver long-term growth and sustainable returns for our shareholders.'
Beyon chief executive Andrew Kvaalseth said: 'The results of the first quarter of 2025 reflect the solid fundamentals of our business and the ongoing execution of our growth strategy. Across our businesses our focus continues to be on delivering innovative solutions and expanding our footprint. On the connectivity front, Batelco deployed the kingdom's first private 5G network for industrial use, a transformative move for Bahrain's manufacturing sector, and also saw a brand uplift alongside the announcement of 'One Plan' a first of its kind product plan designed to integrate customers' mobile and home connectivity needs all in one single plan.'
He added: 'Within our digital companies, Beyon Connect's contribution to eKey 2.0 continues to gain traction across banking, finance, insurance and telecommunications sectors in alignment with our commitment to digital transformation.'
Mr Kvaalseth further said: 'Looking ahead, we remain confident in our trajectory for 2025. With a strong foundation and forward-looking strategy, Beyon is strategically positioned to capitalise on emerging opportunities and continue delivering value for all stakeholders.'
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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"The Board is pleased to see Beyon continuing the positive trajectory established in previous quarters, delivering solid revenue growth and a healthy EBITDA margin in the second half of 2025. The Group's performance remains is in line with expectations and reflects the continued strength of our strategy," remarked Beyon Chairman Shaikh Abdulla bin Khalifa Al Khalifa following the board meeting at Beyon's Campus in Hamala. "Despite the expected result of the application of DMTT on net profit, the underlying fundamentals of the business remain strong, with consistent operational delivery and financial resilience. Our ability to sustain robust ebitda performance while investing in future-focused platforms is a testament to the Group's sound financial position and long-term outlook," he noted. 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'The Board is pleased to see Beyon continuing the positive trajectory established in previous quarters, delivering solid revenue growth and a healthy EBITDA margin in the second half of 2025. The Group's performance remains is in line with expectations and reflects the continued strength of our strategy.' 'Despite the expected result of the application of Domestic Minimum Top-Up Taxes (DMTT) on net profit, the underlying fundamentals of the business remain strong, with consistent operational delivery and financial resilience. Our ability to sustain robust EBITDA performance while investing in future-focused platforms is a testament to the Group's sound financial position and long-term outlook. Notably, the Group continues to distribute dividends in line with previous years, reaffirming our commitment to delivering sustained value for shareholders while ensuring the financial strength required to support future growth.' 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Additionally, our international operations also performed well, with Umniah, our Jordan-based telecom, recording a 9% year-on-year revenue increase. These gains are an important validation of our regional strategy and our ability to deliver high-quality, customer-centric connectivity solutions in a competitive landscape.' 'Closer to home, Batelco by Beyon launched Voya, Bahrain's first fully digital eSIM solution, marking a significant step in how customers engage with mobile services both locally and internationally. Voya builds on our innovation track record and underlines our commitment to shaping the future of digital access in the Kingdom. We also made meaningful progress on the enterprise front with our collaboration with key partners in the financial sector enabling seamless infrastructure migration and deeper integration of telecommunications with financial services.' 'Within our digital companies, we have continued to scale our service offerings. Beyon Solutions advanced its work with the industrial sector through strategic engagements focused on accelerating digital innovation and sustainable practices. Beyon Money Business delivered on a seamless, closed-loop payment ecosystem for merchants. Meanwhile, Beyon Connect expanded its regional presence and thought leadership through active participation in the Arab Postal Leaders Forum, reinforcing its commitment to public-private digital transformation. 'With solid progress in both our telecom and digital businesses, and a clear growth roadmap, we remain confident in our ability to execute and lead as we move into the second half of the year.' This press release, along with the full set of financial statements, is available on the Bahrain Bourse website and on Beyon website, -Ends- This press release has been issued by Beyon Corporate Communications & Sustainability Department. For further information, please contact ABOUT BEYON: Beyon is a global technology group, dedicated to bringing technology closer to people and businesses with best-in-class connectivity and digital solutions. As a group, Beyon is focused on creating a prosperous digital growth portfolio through its subsidiary companies Batelco, Beyon Money, Beyon Cyber, Beyon Solutions, and Beyon Connect. Beyon also supports a successful group of international investments, subsidiaries and affiliates in several locations including Jordan, Saudi Arabia, Yemen, Egypt, the Maldives, The Channel Islands, Isle of Man, Diego Garcia, St. Helena, Ascension Island, and the Falkland Islands. Beyon is a listed entity on the Bahrain Bourse, for more information visit
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