MANAMA: Zain Bahrain, the most innovative operator in the kingdom, yesterday announced its results for the nine-month period to Sept 30, 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 percent. 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 percent. EBITDA for the nine month period was BD 21.0 million (US$ 55.555 million), representing a 38.6 percent 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$141.878 million) for the nine months, a decrease of 7.6 percent from the same period in 2014 which stood at BD 54.041 million (US$ 142.965 million) while representing 5 percent 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 percent (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.” “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.
