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Daily Tribune
01-05-2025
- Business
- Daily Tribune
Beyon reports Q1 profit, revenue increases 6%
Beyon yesterday reported net profit attributable to equity holders of BD18.1M (US$48.0M) for Q1 2025, a 4% decrease from BD18.8M (US$49.9M) reported for the corresponding quarter of 2024. The YoY decline in net profit attributable to equity holders is mainly due to additional taxes from the application of Domestic Minimum Top-Taxes ('DMTT'), effective 1 January 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 attributable to equity holders in Q1 2025 was reported at BD11.8M (US$31.3M), a 70% decrease from BD39.7M (US$105.3M) in the first quarter of 2024, mainly due to investment fair value changes. Operating profit in Q1 2025 of BD26.0M (US$69.0M) is 4% lower than BD27.0M (US$71.6M) reported in Q1 2024. EBITDA stands at BD45.4M (US$120.4M) in Q1 2025 compared to BD44.1M (US$117.0M) in Q1 2024, an increase of 3%. The company maintained a healthy EBITDA margin of 39% in Q1 2025. Revenues for the first quarter of 2025 increased by 6% to BD117.6M (US$311.9M) compared to BD110.5M (US$293.1M) in Q1 2024, mainly due to increases in digital, wholesale, mobile and fixed broadband services. Beyon's balance sheet remains strong with total equity attributable to equity holders of the company of BD540.9M (US$1,434.7M) as of 31 March 2025, 4% lower than BD564.2M (US$1,496.6M) reported as of 31 December 2024. Total assets of BD1,255.4M (US$3,330.0M) as of 31 March 2025 are in line with total assets of BD1,256.0M (US$3,331.6M) as of 31 December 2024. Net assets as of 31 March 2025 which stand at BD595.0M (US$1,578.2M) are 4% lower than BD621.8M (US$1,649.3M) reported as of 31 December 2024. The Company reported cash and bank balances of BD138.4M (US$367.1M) as of 31 March 2025. Beyon Chairman Shaikh Abdulla bin Khalifa Al Khalifa said: 'The first quarter of 2025 was marked by continued topline 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 3% 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.' 'Due to the impact posed by non-operational factors such as the implementation of Domestic Minimum Top-Taxes (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.' From his end, Beyon CEO 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.' '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. Beyon Cyber was recognized with three major accolades at the 2025 Cyber Security Excellence Awards, marking their rapid growth, regional market penetration, and innovative in-house developments. Beyon Solutions signed a strategic agreement to deliver cloud services with Oracle Cloud Infrastructure (OCI) Dedicated Region, supported by its comprehensive suite of managed services to support businesses and government entities in the Kingdom of Bahrain.' '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.'
Daily Tribune
25-03-2025
- Business
- Daily Tribune
Beyon Names AECOM as master planner of Digital City Project
Beyon's vision for a cutting- edge digital and technological hub is moving forward with the official appointment of AECOM as the master planner of the Beyon Digital City project. The appointment marks a key milestone in the development of this transformative initiative, which aims to establish a premier technology and innovation ecosystem in the Hamala area. The award signing ceremony was held at Beyon's headquarters and attended by Andrew Kvaalseth, Beyon CEO, Faisal Al Jalahma, Chairman of the Digital City Development Company, Ahmed Al-Khayat, CEO of Bahrain's UPDA (Urban Planning and Development Authority), and David Border, AECOM's Head of Buildings + Places in Bahrain. As the appointed master planner, AECOM will lead the comprehensive planning and design of the Digital City, ensuring a clear focus on accommodating its various intended uses, including commercial, technological, and lifestyle components such as landscaped open spaces, and essential urban amenities. A key priority of the master planning process will be the seamless integration of the Digital City within Bahrain's existing and proposed transport infrastructure. The UPDA will also be playing an active role in integrating the Digital City development within Bahrain's broader urban expansion strategy, ensuring that the project incorporates efficient internal traffic systems, and connects to the main transport networks so that the area is optimally planned for future growth. Faisal Al Jalahma, Chairman of the Digital City Development Company, noted, 'The appointment of AECOM as the master planner for Digital City is a key step forward in realizing our vision of a thriving technological hub. This project represents an investment of almost US$ 700 million and is designed to create opportunities that attract foreign direct investment in technology, commerce and R&D creating and providing high-value jobs for the future.' Ahmed Abdulaziz AlKhayat, CEO of the Urban Planning and Development Authority (UPDA), stated: 'The successful integration of Beyon Digital City with Bahrain's broader infrastructure plans is crucial to its long-term viability. At UPDA, we are committed to working closely with AECOM and other stakeholders to develop a project that enhances connectivity and aligns with the country's urban planning objectives.'
Tahawul Tech
24-03-2025
- Business
- Tahawul Tech
AECOM appointed as master planner of Beyon's digital city project
Beyon's vision for a cutting-edge digital and technological hub is moving forward with the official appointment of AECOM as the master planner of the Beyon Digital City project. The appointment marks a key milestone in the development of this transformative initiative, which aims to establish a premier technology and innovation ecosystem in the Hamala area. The award signing ceremony was held at Beyon's headquarters and attended by Andrew Kvaalseth, Beyon CEO, Faisal Al Jalahma, Chairman of the Digital City Development Company, Eng. Ahmed Al-Khayat, CEO of Bahrain's UPDA (Urban Planning and Development Authority), and David Border, AECOM's Head of Buildings + Places in Bahrain. As the appointed master planner, AECOM will lead the comprehensive planning and design of the Digital City, ensuring a clear focus on accommodating its various intended uses, including commercial, technological, and lifestyle components such as landscaped open spaces, and essential urban amenities. A key priority of the master planning process will be the seamless integration of the Digital City within Bahrain's existing and proposed transport infrastructure. The UPDA will also be playing an active role in integrating the Digital City development within Bahrain's broader urban expansion strategy, ensuring that the project incorporates efficient internal traffic systems, and connects to the main transport networks so that the area is optimally planned for future growth. Faisal Al Jalahma, Chairman of the Digital City Development Company, noted, 'The appointment of AECOM as the master planner for Digital City is a key step forward in realising our vision of a thriving technological hub. This project represents an investment of almost US$ 700 million and is designed to create opportunities that attract foreign direct investment in technology, commerce and R&D creating and providing high-value jobs for the future. We are confident that with AECOM's expertise, and the support of key authorities, the Beyon Digital City will not only accelerate Bahrain's digital economy but also position the Kingdom as a leading destination for innovation and enterprise'. Eng. Ahmed Abdulaziz Al-Khayat, CEO of the Urban Planning and Development Authority (UPDA), stated: 'The successful integration of Beyon Digital City with Bahrain's broader infrastructure plans is crucial to its long-term viability. At UPDA, we are committed to working closely with AECOM and other stakeholders to develop a project that enhances connectivity and aligns with the country's urban planning objectives. Beyon Digital City supports several key aspects of UPDA's detailed land use strategy, contributing to improved trade exchange, and the creation of high-value job opportunities and new business growth. Furthermore, the development will incorporate a multimodal transportation network, ensuring safe, efficient, and comfortable mobility. This includes an automated tram system, complemented by extensive landscaped areas and open spaces, reinforcing sustainability at the core of the project'. David Border, Head of Buildings + Places for AECOM in Bahrain, commented, 'We are honoured to be entrusted with the master planning of Beyon Digital City. Our approach will focus on sustainable urban design, efficient transport integration, and the creation of a dynamic, people-centred environment that fosters innovation and collaboration'. Beyon's Digital City project is positioned as a landmark initiative that will reinforce Bahrain's status as a digital and innovation hub in the region. By leveraging world-class urban planning expertise and strategic infrastructure coordination, the development is expected to set new benchmarks in sustainable, tech-driven urbanization, ultimately contributing to the Kingdom's long-term economic and technological growth objectives. Image Credit: Beyon & AECOM
Biz Bahrain
24-03-2025
- Business
- Biz Bahrain
AECOM appointed as master planner of Beyon's Digital City Project
Beyon's vision for a cutting-edge digital and technological hub is moving forward with the official appointment of AECOM as the master planner of the Beyon Digital City project. The appointment marks a key milestone in the development of this transformative initiative, which aims to establish a premier technology and innovation ecosystem in the Hamala area. The award signing ceremony was held at Beyon's headquarters and attended by Andrew Kvaalseth, Beyon CEO, Faisal Al Jalahma, Chairman of the Digital City Development Company, Eng. Ahmed Al-Khayat, CEO of Bahrain's UPDA (Urban Planning and Development Authority), and David Border, AECOM's Head of Buildings + Places in Bahrain. As the appointed master planner, AECOM will lead the comprehensive planning and design of the Digital City, ensuring a clear focus on accommodating its various intended uses, including commercial, technological, and lifestyle components such as landscaped open spaces, and essential urban amenities. A key priority of the master planning process will be the seamless integration of the Digital City within Bahrain's existing and proposed transport infrastructure. The UPDA will also be playing an active role in integrating the Digital City development within Bahrain's broader urban expansion strategy, ensuring that the project incorporates efficient internal traffic systems, and connects to the main transport networks so that the area is optimally planned for future growth. Faisal Al Jalahma, Chairman of the Digital City Development Company, noted, 'The appointment of AECOM as the master planner for Digital City is a key step forward in realizing our vision of a thriving technological hub. This project represents an investment of almost US$ 700 million and is designed to create opportunities that attract foreign direct investment in technology, commerce and R&D creating and providing high-value jobs for the future. We are confident that with AECOM's expertise, and the support of key authorities, the Beyon Digital City will not only accelerate Bahrain's digital economy but also position the Kingdom as a leading destination for innovation and enterprise.' Eng. Ahmed Abdulaziz Al-Khayat, CEO of the Urban Planning and Development Authority (UPDA), stated: 'The successful integration of Beyon Digital City with Bahrain's broader infrastructure plans is crucial to its long-term viability. At UPDA, we are committed to working closely with AECOM and other stakeholders to develop a project that enhances connectivity and aligns with the country's urban planning objectives. Beyon Digital City supports several key aspects of UPDA's detailed land use strategy, contributing to improved trade exchange, and the creation of high-value job opportunities and new business growth. Furthermore, the development will incorporate a multimodal transportation network, ensuring safe, efficient, and comfortable mobility. This includes an automated tram system, complemented by extensive landscaped areas and open spaces, reinforcing sustainability at the core of the project.' David Border, Head of Buildings + Places for AECOM in Bahrain, commented, 'We are honoured to be entrusted with the master planning of Beyon Digital City. Our approach will focus on sustainable urban design, efficient transport integration, and the creation of a dynamic, people-centered environment that fosters innovation and collaboration.' Beyon's Digital City project is positioned as a landmark initiative that will reinforce Bahrain's status as a digital and innovation hub in the region. By leveraging world-class urban planning expertise and strategic infrastructure coordination, the development is expected to set new benchmarks in sustainable, tech-driven urbanization, ultimately contributing to the Kingdom's long-term economic and technological growth objectives.
Zawya
23-03-2025
- Business
- Zawya
AECOM appointed as master planner of Beyon's Digital City Project
Manama, Bahrain: Beyon's vision for a cutting-edge digital and technological hub is moving forward with the official appointment of AECOM as the master planner of the Beyon Digital City project. The appointment marks a key milestone in the development of this transformative initiative, which aims to establish a premier technology and innovation ecosystem in the Hamala area. The award signing ceremony was held at Beyon's headquarters and attended by Andrew Kvaalseth, Beyon CEO, Faisal Al Jalahma, Chairman of the Digital City Development Company, Eng. Ahmed Al-Khayat, CEO of Bahrain's UPDA (Urban Planning and Development Authority), and David Border, AECOM's Head of Buildings + Places in Bahrain. As the appointed master planner, AECOM will lead the comprehensive planning and design of the Digital City, ensuring a clear focus on accommodating its various intended uses, including commercial, technological, and lifestyle components such as landscaped open spaces, and essential urban amenities. A key priority of the master planning process will be the seamless integration of the Digital City within Bahrain's existing and proposed transport infrastructure. The UPDA will also be playing an active role in integrating the Digital City development within Bahrain's broader urban expansion strategy, ensuring that the project incorporates efficient internal traffic systems, and connects to the main transport networks so that the area is optimally planned for future growth. Faisal Al Jalahma, Chairman of the Digital City Development Company, noted, "The appointment of AECOM as the master planner for Digital City is a key step forward in realizing our vision of a thriving technological hub. This project represents an investment of almost US$ 700 million and is designed to create opportunities that attract foreign direct investment in technology, commerce and R&D creating and providing high-value jobs for the future. We are confident that with AECOM's expertise, and the support of key authorities, the Beyon Digital City will not only accelerate Bahrain's digital economy but also position the Kingdom as a leading destination for innovation and enterprise.' Eng. Ahmed Abdulaziz Al-Khayat, CEO of the Urban Planning and Development Authority (UPDA), stated: "The successful integration of Beyon Digital City with Bahrain's broader infrastructure plans is crucial to its long-term viability. At UPDA, we are committed to working closely with AECOM and other stakeholders to develop a project that enhances connectivity and aligns with the country's urban planning objectives. Beyon Digital City supports several key aspects of UPDA's detailed land use strategy, contributing to improved trade exchange, and the creation of high-value job opportunities and new business growth. Furthermore, the development will incorporate a multimodal transportation network, ensuring safe, efficient, and comfortable mobility. This includes an automated tram system, complemented by extensive landscaped areas and open spaces, reinforcing sustainability at the core of the project." David Border, Head of Buildings + Places for AECOM in Bahrain, commented, "We are honoured to be entrusted with the master planning of Beyon Digital City. Our approach will focus on sustainable urban design, efficient transport integration, and the creation of a dynamic, people-centered environment that fosters innovation and collaboration." Beyon's Digital City project is positioned as a landmark initiative that will reinforce Bahrain's status as a digital and innovation hub in the region. By leveraging world-class urban planning expertise and strategic infrastructure coordination, the development is expected to set new benchmarks in sustainable, tech-driven urbanization, ultimately contributing to the Kingdom's long-term economic and technological growth objectives. -Ends- This press release has been issued by Beyon Corporate Communications & Sustainability Department. For further information, please contact FOLLOW US: Instagram: LinkedIn: 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
