Latest news with #ShaikhAbdulla
Zawya
01-05-2025
- Business
- Zawya
Bahrain: Beyon reports financial results for first quarter
Bahrain - Beyon has reported net profit of BD18.1 million ($48m) for the first quarter of 2025 (Q1 2025), a 4 per cent decrease from BD18.8m ($49.9m) reported for the corresponding quarter of 2024. 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. (
Daily Tribune
18-03-2025
- Politics
- Daily Tribune
Bahrain Leads the Way in Promoting Global Harmony and Acceptance
TDT | Manama KHGC Chairman: The International Day of Peaceful Coexistence is a pioneering Bahraini initiative for a world of greater solidarity, prosperity The Minister of Transportation and Telecommunications and Chairman of the Board of Trustees of the King Hamad Global Center for Peaceful Coexistence, H.E. Dr. Shaikh Abdulla bin Ahmed Al Khalifa, emphasized that the adoption of the International Day of Peaceful Coexistence reflects the enlightened vision of His Majesty King Hamad bin Isa Al Khalifa, with the support of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. This initiative reinforces Bahrain's unwavering commitment to fostering global peace, acceptance, and human coexistence for a more united and prosperous world. The minister made these remarks during his speech at the annual Ramadan Ghabga hosted by the King Hamad Global Center for Peaceful Coexistence. The event brought together high-profile dignitaries, including government officials, ambassadors, diplomats, religious leaders, media personalities, and cultural figures, in recognition of their support for Bahrain's pioneering peace initiatives. The gathering also celebrated the United Nations' historic decision to adopt Bahrain's proposal for an International Day of Peaceful Coexistence. International Day of Peaceful Coexistence In his address, H.E. Dr. Shaikh Abdulla expressed immense pride in the United Nations' formal adoption of Bahrain's draft resolution, which officially designates January 28 as the International Day of Peaceful Coexistence. This milestone underscores Bahrain's steadfast leadership in advocating global values of peace, dialogue, and mutual understanding. Under the leadership of His Majesty the King, Bahrain has continually worked to reject intolerance and hatred while promoting respect for human, religious, cultural, and ethnic diversity worldwide. H.E. highlighted that the adoption of this initiative, with the support of 162 UN member states, is a testament to the international community's appreciation of Bahrain's royal initiatives aimed at fostering global peace and harmony. These initiatives include the establishment of the King Hamad Global Center for Peaceful Coexistence, the launch of the King Hamad Award for Peaceful Coexistence, and other global humanitarian efforts focused on empowering women and youth, promoting interfaith dialogue, and advocating for an international convention to criminalize religious, sectarian, and racial hate speech. sdgsdg fgdfg Bahrain's Peaceful Coexistence Model Dr. Shaikh Abdulla emphasized that Bahrain's initiative serves as a comprehensive and sustainable global platform rooted in the Kingdom's historical and civilizational identity. It reflects Bahrain's role as a beacon of religious and cultural diversity, and its dedication to fostering education, media awareness, and international cooperation in the pursuit of peaceful societies. Furthermore, Bahrain's vision aligns with the objectives of the 2030 Sustainable Development Agenda and global charters aimed at securing a stable and prosperous future for all. During the ceremony, H.E. Dr. Shaikh Abdulla honored representatives of allied and friendly nations with commemorative shields in recognition of their support as co-sponsors of the resolution. He extended his deep gratitude to all nations that endorsed this noble initiative, as well as to distinguished guests from diplomatic, religious, media, and community sectors who contributed to making this global vision a reality. Bahrain's leadership in promoting peaceful coexistence continues to gain international recognition, further solidifying its status as a pioneer in fostering global peace and interfaith dialogue. dfsdf
Daily Tribune
02-03-2025
- Automotive
- Daily Tribune
Mumtalakat CEO Visits Racing Force to Explore Expansion and Achievements
H.E. Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat, recently visited Racing Force, a leading portfolio company of Mumtalakat specializing in safety systems for motorsports. The visit aimed to explore the company's journey and its future growth prospects. Upon arrival, H.E. Shaikh Abdulla was warmly welcomed by Racing Force executives, including Paolo Delprato, Chairman and CEO; Stephane Cohen, Co-CEO; Aref Yazbek, Chief Business Officer & Bahrain Managing Director; and Roberto Ferroggiaro, CFO. During the visit, H.E. Shaikh Abdulla had the opportunity to tour the Bell Racing Helmets factory in Bahrain, gaining insight into the various functions of the plant. The Bell Racing Helmets facility, which has been a cornerstone of Racing Force's operations, employs 400 Bahrainis, reflecting the company's commitment to local talent and the Kingdom's thriving manufacturing sector. Since its inception, the facility has produced over 300,000 helmets, 360,000 mini helmets, and more than 1 million accessories. All products are entirely 'Made in Bahrain,' underscoring the Kingdom's competitiveness in global manufacturing. The visit concluded with a productive meeting where the team shared insights into Racing Force's journey since its founding in 2014, along with its ambitious expansion plans for the future. The company's continued success highlights Bahrain's growing role as a key player in the global motorsports safety industry. Racing Force's Bell Racing Helmets plant in Bahrain exemplifies the Kingdom's manufacturing capabilities, contributing significantly to its economy while positioning Bahrain as a leader in motorsports safety technology.
