Zain Bahrain Announces Rise in Net Profit by 24.3% reaching BD 5.147 million for the Year Ended 31 December 2015
- Shaikh Ahmed: Zain Bahrain committed in achieving operational excellence and innovation side-by-side- Final quarter witnessed impressive growth in net profit of 42.4%- Company's efficiency and strong positioning in data drive results to healthy 39.8% operational margin- Customer base increased to 795,000 active customers inclusive of an upsurge in 4G LTE users by 141%
Manama - 10 February, 2015
Zain Bahrain (Ticker: ZAINBH), the most innovative operator in the Kingdom, announced its financial results for the year ended December 31, 2015.
In a statement issued by the company, it said that revenues totaled to BD 71.112 million (US$ 188.127 million), a slight decrease of less than 1% compared to the BD 71.804 million (US$ 189.958 million) recorded in 2014. Notwithstanding, Zain Bahrain generated net profit amounting to BD 5.147 million (US$ 13.616 million), an increase of 24.3% compared to BD 4.142 million (US$ 10.958 million) recorded in 2014, reflecting Earnings Per Share of 14 fils compared to 13 fils per share in 2014.
The company also stated that the operational profit reached BD 28.311 million (US$ 74.897 million), an increase of 6%, compared to the results posted in 2014 which was BD 26.697 million (US$ 70.627 million) in 2014, reflecting a healthy operational margin of 39.8%.
For the fourth quarter of 2015, Zain Bahrain recorded revenues of BD 17.763 million (US$ 46.992), reduced by less than 1% from 2014 where revenues were at BD 17.782 million (US$ 47.042 million).The financial results also reflected a strong operational performance with net profits increasing by 42.4% to reach BD 1.735 million (US$ 4.590 million) compared to BD 1.218 million (US$ 3.222 million) reported for the same period in 2014. The operational profit for the quarter increased by 5.4% amounting to BD 7.297 million (US$ 19.304 million) compared to BD 6.922 million (US$ 18.312 million) in 2014, reflecting a strong operational margin of 41.7%.
Zain Bahrain witnessed yearly growth in customer base to serve 795,000 active customers as of 31 December, 2015. The substantial investment in the company's state-of the-art 4G LTE network has resulted in a remarkable growth in LTE services users by 141%. The rise in company's profits was marked by the continuous enhancements in operational efficiencies and strong positioning in data.
Commenting on the company's financial results, Zain Bahrain's Chairman, Sheikh Ahmed Bin Ali Al Khalifa said: "We have delivered positive yearend results in line with our overall plan. Revenue growth accelerated strongly through the second half of the year, a result of a concerted focus on driving the growth of the broadband sector through the offering of appealing data packages."
"Zain Bahrain will remain focused to achieve operational excellence and innovation across the full spectrum of products and services. We firmly believe that our strategy will lead to increased revenues and profits as well as improve cashflow, which in return will maximize the value for our shareholders," said Sheikh Ahmed.
Key achievements in the Fourth Quarter of 2015
The last quarter of 2015 witnessed the launch of a series of remarkable products and services. In line with its commitment to provide the most innovative services for its customers, Zain Bahrain launched a new campaign under the theme of 'Addicted to Data'. The new offer is in line with the company's commitment to offer value-driven services for its consumers.
The company also kicked off a series of initiatives aimed at providing customers with a superior experience including Customer Day, a program focused on allowing members of Senior Management to have direct contact with customers via the operator's retail shops, contact center and back office.
Also during the same period, the company announced its 'Zone Sponsorship' of Al Riwaq's 'The Nest', a local market held in Block 338 showcasing the latest talents from Bahrain and the region. Meanwhile, the fifth annual Zain Technology Conference (ZTC) was held in Bahrain in December 2015 that witnessed the attendance of 700 telecom professionals, placing the Kingdom at the heart of Zain Group's strategy of innovation and delivering on the digital lifestyle. The theme of this year's Conference was 'Transforming Our World', reflecting Zain's strategic aspirations of delivering on a compelling digital lifestyle to its customers.
Moreover, Zain Bahrain announced a long term partnership with the British School of Bahrain, providing them with dedicated high speed internet access and a wide range of benefits. This partnership goes in line with Zain Bahrain's strategy to cater to the needs of the wider community. Addionally, the operator strengthened its responsibility towards sustainability by launching the 'e-Waste Recycling Campaign' with the support of the United Nations Industrial Development Organization (UNIDO). The campaign now includes Riyadat Mall, and various schools and universities.
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