Latest news with #ShaikhAhmedbinAliAlKhalifa
Daily Tribune
24-04-2025
- Business
- Daily Tribune
Zain Bahrain Q1 profit rises 9.6%
Zain Bahrain, a leading telecommunications provider in the Kingdom, yesterday announced its financial results for the first quarter (Q1 2025). The company reported a total profit attributable to the shareholders of BD 1.17 million for the three months ended 31 March 2025, representing a 9.6% increase compared to BD 1.07 m for the same period in the previous year. Basic and Diluted earnings per share remained stable at 3 fils, compared to Q1 '24. Revenue increased to BD 21.01 m, representing a growth of 7.7% compared to BD 19.51 m for the same period in 2024. EBITDA reached BD 5.38 m, down by 5.6% from BD 5.70 m in Q1 '24. At the balance sheet level, Zain Bahrain's total equity as of 31 March 2025 accumulated to BD 85.92 m, down by 2.50% from BD 88.12 m at the end of 2024. The Company's asset base stood at BD 138.22 m, a reduction of 2.60% from BD 141.91 m as of 31 December 2024. Commenting on the results, Shaikh Ahmed bin Ali Al Khalifa, Zain Bahrain Chairman, said, "I am pleased to share Zain Bahrain's latest milestones and developments for the first quarter of 2025. These highlight our remarkable progress in expanding our capabilities and enriching customer experiences. Over the past few months, Zain Bahrain has significantly enhanced its 4G and 5G network coverage across the Kingdom, boosting network efficiency and delivering faster connectivity to our customers. This expansion also supports our sustainability goals by reducing energy consumption by up to 50%—a major step forward in our commitment to environmental responsibility. It is also notable to mention, that our innovative microfinance app Bede, has achieved remarkable success and continued to gain a widespread acceptance, emerging as a key player in the Kingdom's fintech sector.' Tripled internet speeds 'In line with our mission to deliver the best possible digital experience, we have also tripled our fiber internet speeds for new and existing customers. Base speeds have increased to 300 Mbps, with offerings reaching up to 2 Gbps. This positions Zain Bahrain as a leader in high-speed internet services, setting a new benchmark for fiber connectivity in the Kingdom and ensuring that all Zain customers can enjoy unprecedented speeds." Zain Bahrain Chairman continued: "We have also forged new strategic partnerships, including Takaful International Company. The partnership aimed to expand our portfolio to offer affordable, comprehensive insurance solutions alongside our telecom services through Zain App. These efforts have not gone unnoticed, as we proudly received the "Best Connected Customer Experience Award" by IST Networks and Genesys at LEAP 2025. In addition, we recently achieved the highly regarded "Corporate Ethical Procurement and Supply" certification from the Chartered Institute of Procurement and Supply (CIPS), which underscores Zain's continuous commitment to maintaining the highest standards of integrity, transparency, and ethical business practices in its procurement and supply chain operations. Another proud achievement this quarter is Zain Bahrain's official certification of ISO 22301:2019 for Business Continuity Management, along with our successful transition to ISO 27001:2022 standard for Information Security Management Systems (ISMS). These internationally recognized certifications underscore Zain's unwavering commitment to business resilience, customer data privacy, and the continuous enhancement of our cybersecurity and continuity practices.' The Chairman concluded: "Looking ahead, 2025 will be a year of achievements and endless possibilities, and we are already off to a good start. Zain Bahrain will continue to push boundaries in innovation to meet its customers' changing needs, expand digital services, revolutionaries' new technologies, and uplift customer experience to remain the leading telecom and technology provider across the Kingdom."
Trade Arabia
19-02-2025
- Business
- Trade Arabia
Zain Bahrain revenue for 2024 hits $203m; net profit up 2pc
Zain Bahrain, a leading telecommunications provider in the kingdom, has announced a revenue of BD77.24 million ($203 million) for FY2024, up 6.8% from the previous year's figure of BD72.32 million ($190 million). Announcing its financial results for the 12-month period ended December 31, 2024, Zain Bahrain said it reported a 2% increase in total profit for the year attributable to the shareholders amounting to BD5.92 million compared to BD5.81 million in the previous year. Basic and diluted earnings per share stood at 16 fils for the year, while the ebitda increased to BD23.58 million for the year ended December 31, 2024, from BD22.45 million in the previous year. Zain Bahrain's total equity as of December 31, 2024 accumulated to BD88.12 million, up by 2.8% from BD85.66 million at the end of 2023. The company's asset base stood at BD 141.91 million, a 3.1% increase from BD 137.63 million in 2023, it added. On the Q4 performance, Zain Bahrain said its total profit attributable to the shareholders stood at BD1.88 million representing a 29.6% increase compared to BD1.45 million for the same period in the previous year with Basic and Diluted earnings per share of 5 fils. Revenue for the fourth quarter, meanwhile, increased to BD19.80 million, representing a growth of 7.3% compared to BD18.45 million for the same period the previous year. Ebitda reached BD5.44 million, down by 5.6% from BD5.76 million in Q4 2023. Impressed with the results, Zain Bahrain's Board of Directors have recommended annual dividends representing 9% of the company's paid-up capital, equivalent to 9 fils per share. This totals to a dividend amount of BD3.275 million, reflecting a 55% payout ratio, subject to the Annual General Meeting approval. Zain Bahrain Chairman Shaikh Ahmed bin Ali Al Khalifa said: "This year has been one of growth, resilience, and transformation - achievements that we are incredibly proud of and that lay the foundations for a brighter future. I am proud to share the outstanding progress we have made in delivering exceptional value to our customers, shareholders, and the Kingdom of Bahrain." Innovation and digital transformation, he stated, were key drivers of Zain's healthy revenue growth, which was attributed to the development of new services and products. "We remained focused on investing in our networks and building our digital capabilities, which are important to our customers and future success," observed Shaikh Ahmed. "We are thrilled to share that Zain Bahrain has been recognized with the prestigious Employer of the Year Award in the Private Sector at the 12th Annual GCC GOV HR & Youth Summit and Awards. This accolade is a testament to our unwavering commitment to nurturing a positive workplace culture and supporting employee growth," he noted. "Moreover, we are delighted to announce that Zain Bahrain has maintained a remarkable Bahrainization rate of 93.33% and was recognized by the Ministry of Labor as one of the top 10 companies achieving the highest Bahraini employment rate in 2024," he added. According to him, a significant milestone achieved by the group towards the end of the year was its collaboration with BNET, the national fiber network operator, to successfully transfer Zain Bahrain's fixed-fiber backhaul network assets. "This strategic move enhances the efficiency and scalability of our network, playing a key role in supporting Bahrain's National Telecom Plan (NTP5). Our partnership with BNET aligns with our mission to contribute to Bahrain's vision of becoming a digital powerhouse in the region, and we are confident that this collaboration will further strengthen our position as the leading telecom provider in the Kingdom," he noted.
