Zain Bahrain Announces Rise in Profits By 16.7% for the nine-month period ended 30 September 2015
Manama – 19 October, 2015:
Zain Bahrain (Ticker: ZAINBH), the most innovative operator in the Kingdom, today announced its results for the nine-month period to 30 September 2015. The operator recorded net profit of BD 3.412 million (US$ 9.026 million) for the nine-month period compared to BD 2.924 million (US$ 7.735 million) for the corresponding period in 2014, representing an increase of 16.7%. Net profit for the three months to September 2015 amounted to BD 1.338 million (US$ 3.539 million) compared to BD 700,000 (US$ 1.851 million) reported for the same period in 2014, an increase of 91%. EBITDA for the nine month period was BD 21.0 million (US$ 55.555 million), representing a 38.6% margin, compared to EBITDA of BD 20.2 million (US$53.439 million) for the previous year. The company recorded revenues of BD 53.630 million (US$141.878 million) for the nine months, a decrease of 7.6% from the same period in 2014 which stood at BD 54.041 million (US$ 142.965 million) while representing 5% growth from the second quarter of 2015 (i.e. from BD 17.489 million to BD 18.508 million).
The rise in company's profits was marked by strong positioning in data and the drive of efficiencies across the operation. At the end of the third quarter, Zain Bahrain maintained a strong growth in its customer base by 3% (from 787,000 to 814,000 active customers) while demand for broadband services increased.
Commenting on the company's financial results, Zain Bahrain's Chairman, Sheikh Ahmed Bin Ali Al Khalifa said: "Our continued focus on maximizing customer experience has enabled Zain Bahrain to maintain its market leadership resulting in an encouraging set of financial and operational results."
Sheikh Ahmed continued "We are pleased that our focus in customer experience has led to exponential growth in mobile data subscribers. Zain Bahrain is committed to fostering innovation, and success can only be achieved by enabling innovation across the full spectrum of products and services," added Sheikh Ahmed.
"We ended the third quarter with a growing customer base and positive financial results. We will continue to drive our operations towards growth and allow a better alignment with the competitive environment of the industry," said Sheikh Ahmed.
Key operational and commercial notes for Q3 2015
© 2023 Copyright Zain. All Rights Reserved.