Zain Bahrain reports solid profits during Q1 2015
Zain Bahrain (Ticker: ZAINBH), the most innovative operator in the Kingdom, has posted its financial results for the first quarter of 2015 ending 31 March 2015; recording a 39.42% margin in EBTIDA during the same period, reaching BD 6.951 million (US$ 18.389 million).
Additionally, mobile broadband service customers grew by 23% during Q1 2015 as Zain Bahrain continues to invest in a nationwide 4G LTE network.
The company also witnessed customer growth of 1% in Q1 in comparison to Q1'14 to serve 785,000 active customers as of 31 March, 2015.
Zain Bahrain recorded revenues of BD 17.633 million (US$46.769 million) in Q1'15, down 4.16% from 2014 where revenues were at BD 18.398 million (US$ 48.798 million) while net profit for the quarter reached BD 1.024 million (US$2.716 million) from BD 1.080 million (US$ 2.864 million) in Q1'14, reflecting a 5.1% decrease YoY.
Commenting on the company's financial results, Zain Bahrain Chairman, H.E. Sheikh Ahmed Bin Ali Abdulla Al Khalifa said: "This is an encouraging set of results and we are pleased that our USD100 million investment in building a new 4G LTE nationwide network continues to deliver positive financial and operational results. The company's management is working tirelessly to improve Zain Bahrain's network capabilities while focusing on enhancing customer service experience."
"As we reflect on our successes, we look forward to leveraging our assets in order to provide innovative and advanced services for our customers and further position the Kingdom on the global telecommunications map," he added.
Key operational and commercial notes for Q1 2015
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