Latest news with #BD53.9M
Bahrain This Week
17-04-2025
- Business
- Bahrain This Week
Beyon Holds Annual General Meeting
Beyon BSC (Ticker: BEYON), held its Annual General Meeting (AGM) today for the twelve-months which ended on 31 December 2024 at the Beyon campus in Hamala, Bahrain. The meeting was attended by Beyon's Chairman, board members, executive management and Beyon's external auditor, KPMG Fakhro. Representatives from Central Bank of Bahrain, the Ministry of Industry & Commerce, Bahrain Bourse and shareholders were also present. During the AGM, shareholders approved the recommendation of the Board of Directors for a full year cash dividend of BD53.9M (US$143.0M), which includes a dividend of 32.5 fils per share. The 2024 interim dividend of 13.5 fils per share was already paid during the second quarter of 2024 with the remaining dividend of 19.0 fils announced during the meeting to be paid on 21 April 2025. Beyon Chairman Shaikh Abdulla bin Khalifa Al Khalifa commented, 'Beyon's solid performance in 2024 reflects our commitment to delivering value to our shareholders. Our results highlight the success of our digital transformation journey and our commitment to implementing our strategic growth plans, which enable us to generate positive returns on shareholder investment, in line with expectations.' Concluding his remarks, Shaikh Abdulla expressed his gratitude to the shareholders, Board of Directors, executive management, and all team members for their invaluable contributions toward Beyon's success in 2024. During the AGM, Beyon CEO, Andrew Kvaalseth, presented an overview of the key achievements accomplished throughout 2024, highlighting the solid financial performance and operational milestones. The CEO also outlined ambitious strategic growth plans for 2025 with a focus on the development of the company's core business segments in telecommunications, connectivity and digital growth. 'We ended 2024 with strong momentum across the business, delivering growth in our core telecom operations and significant gains across our digital ventures,' said Mr. Kvaalseth. 'Our digital companies are scaling rapidly and establishing meaningful market presence across the region.' Adding, 'Looking ahead, our plans include doubling down on innovation, intelligent digital infrastructure and customer-centric solutions that support consumer experiences in an increasingly connected world.' 'The success of the past year was made possible by the collective efforts of our global teams, and we look forward to building on this success with their support, to ensure another year of growth and significant accomplishments,' Mr. Kvaalseth concluded.
Daily Tribune
27-03-2025
- Business
- Daily Tribune
Beyon AGM approves BD53.9M cash dividend
Beyon held its Annual General Meeting (AGM) yesterday for the twelvemonths which ended on 31 December 2024 at the Beyon campus in Hamala, Bahrain. The meeting was attended by Beyon's Chairman, board members, executive management and Beyon's external auditor, KPMG Fakhro. Representatives from Central Bank of Bahrain, the Ministry of Industry & Commerce, Bahrain Bourse and shareholders were also present. Shareholders approved the recommendation of the Board of Directors for a full year cash dividend of BD53.9M (US$143.0M), which includes a dividend of 32.5 fils per share. The 2024 interim dividend of 13.5 fils per share was already paid during the second quarter of 2024 with the remaining dividend of 19.0 fils announced during the meeting to be paid on 21 April 2025. Beyon Chairman Shaikh Abdulla bin Khalifa Al Khalifa commented, 'Beyon's solid performance in 2024 reflects our commitment to delivering value to our shareholders. Our results highlight the success of our digital transformation journey and our commitment to implementing our strategic growth plans, which enable us to generate positive returns on shareholder investment, in line with expectations.' Concluding his remarks, Shaikh Abdulla expressed his gratitude to the shareholders, Board of Directors, executive management, and all team members for their invaluable contributions toward Beyon's success in 2024. During the AGM, Beyon CEO, Andrew Kvaalseth, presented an overview of the key achievements accomplished throughout 2024, highlighting the solid financial performance and operational milestones. The CEO also outlined ambitious strategic growth plans for 2025 with a focus on the development of the company's core business segments in telecommunications, connectivity and digital growth. 'We ended 2024 with strong momentum across the business, delivering growth in our core telecom operations and significant gains across our digital ventures,' said Mr. Kvaalseth. 'Our digital companies are scaling rapidly and establishing meaningful market presence across the region.' Adding, 'Looking ahead, our plans include doubling down on innovation, intelligent digital infrastructure and customer-centric solutions that support consumer experiences in an increasingly connected world.''The success of the past year was made possible by the collective efforts of our global teams, and we look forward to building on this success with their support, to ensure another year of growth and significant accomplishments,' Mr. Kvaalseth concluded.
Daily Tribune
21-02-2025
- Business
- Daily Tribune
Beyon announces quarterly, full-year profits; dividend
Beyon yesterday reported fourth quarter and full year 2024 profits based on which recommended a full year cash dividend of BD53.9M (US$143.0M), at a value of 32.5 fils per share. The financial results of Q4 2024 have benefited from the consolidation of newly acquired entities in Beyon's subsidiaries, being Airtel Vodafone in Sure and Link Development in Beyon Solutions. Fourth quarter results Net profit attributable to equity holders was BD16.6M (US$44.0M) for Q4 2024, in line with BD16.5M (US$43.8M) reported for the corresponding quarter of 2023. Earnings per share (EPS) are 10.0 fils for the fourth quarter of 2024, in line with 10.0 fils in Q4 2023. Total comprehensive income attributable to equity holders in Q4 2024 was reported at BD19.1M (US$50.7M), a 23% decrease from BD24.8M (US$65.8M) in the fourth quarter of 2023, mainly due to foreign exchange changes. Operating profit of BD28.0M (US$74.3M) is 15% higher than BD24.4M (US$64.7M) reported in the corresponding quarter of 2023. EBITDA stands at BD49.6M (US$131.6M) in Q4 2024 compared to BD40.4M (US$107.2M) in Q4 2023, an increase of 23%. Revenues increased by 16% to BD126.9M (US$336.6M) compared to BD109.5M (US$290.5M) in Q4 2023. Full year results For the full year of 2024, net profit attributable to equity holders of the company of BD72.8M (US$193.1M) increased by 1% compared to BD72.0M (US$191.0M) in 2023. Earnings per share (EPS) are 44.0 fils for the year compared to an EPS of 43.6 fils in 2023. Total comprehensive income attributable to equity holders of the company is up by 10% from BD91.6M (US$243.0M) in 2023 to BD100.4M (US$266.3M) in 2024 mainly due to favorable investment fair value changes. Operating profits increased by 5% from BD104.0M (US$275.9M) in 2023 to BD 109.5M (US$290.5M) in 2024. Similarly, EBITDA increased by 7% from BD171.1M (US$453.8M) in 2023 to BD183.4M (US$486.5M) in 2024. The company maintained a healthy EBITDA margin of 40% in 2024. Revenues for the year of BD460.0M (US$1,220.2M) increased by 8% from BD424.9M (US$1,127.1M) of revenues in 2023, mainly due to increases in mobile, digital services, datacoms and wholesale. Beyon was able to grow its overall customer base by 7% YoY with increases in mobile customers across all its operating companies. Beyon's balance sheet remains strong with total equity attributable to equity holders of the company of BD564.2M (US$1,496.6M) as of 31 December 2024, 6% higher than BD532.3M (US$1,411.9M) reported as of 31 December 2023. Total assets of BD1,256.0M (US$3,331.6M) as of 31 December 2024 are 8% higher than total assets of BD1,165.4M (US$3,091.2M) as of 31 December 2023. Net assets as of 31 December 2024 which stand at BD621.8M (US$1,649.3M) are 7% higher than BD582.5M (US$1,545.1M) reported as of 31 December 2023. The Company reported cash and bank balances of BD144.1M (US$382.2M) as of 31 December 2024. Full year cash dividend The Board of Directors has recommended a full year cash dividend of BD53.9M (US$143.0M), at a value of 32.5 fils per share to be agreed at the Annual General Meeting, of which 13.5 fils per share was distributed during the second quarter of 2024 with the remaining 19.0 fils to be paid following the AGM in March 2025. Beyon Chairman Shaikh Abdulla bin Khalifa Al Khalifa said: 'This year was marked by significant expansion as a result of our commitment to our strategy of growth through investment in major acquisitions, strengthening our portfolio and presence in key markets. The Board of Directors is pleased to report solid performance achieved for 2024, reflected by an 8% increase in revenues for the year compared to 2023, with operating profits increasing by 5%, net profits by 1% and EBITDA up by 7%, while earnings per share also improved year on year, in line with the Board of Directors' commitment to deliver value for our shareholders.' Reflecting on the year ended, Beyon CEO Andrew Kvaalseth said, 'Beyon's digital subsidiaries expanded regionally and launched innovative products, strengthening the company's market presence. Notably, Beyon Solutions signed deals with Bahrain Airport Company, Bahrain Airport Services, and Bapco Energies leveraging its extensive expertise in smart technologies for their operational requirements. Beyon Cyber announced its official launch in Saudi Arabia, during Black Hat Middle East and Africa, elevating their presence in the Middle East's cybersecurity market through the introduction of two new revolutionary products, designed and developed in-house by Beyon Cyber's R&D team. Beyon Connect's role in developing eKey 2.0, a nation-wide application, will continue to be felt in its ongoing implementation in the banking, finance, telecommunications, and healthcare sectors across Bahrain.'
