Bahrain's Batelco releases Q1 2019 financials

Reports growth ahead of separation.
Batelco, Bahrain, Profits, Financials, Commerce, Economy, Business, Tech, Umniah, Jordan

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Batelco has released its Q1 2019 financials.

The company's operating profit for Q1 2019 increased by 8% to BD21.9 million (US$58.1 million) from BD20.3 million (US$53.8 million) in Q1 2018. 

EBITDA for the first quarter of 2019 was BD38.6 million (US$102.4 million) compared to BD36.6 million (US$97.1 million) in Q1 2018, representing an increase of 6% and EBITDA margin of 38%. The improved EBITDA is bolstered by the revenue gains and a 2% reduction in direct costs.

Revenues were BD101.2 million (US$268.4 million), 2% higher than Q1 2018 revenues of BD99.5 million (US$263.9 million). Revenues continue to be positively impacted by strong performance at Batelco Bahrain, Umniah in Jordan and Dhiraagu in the Maldives.

Batelco chair Shaikh Abdulla bin Khalifa Al Khalifa said he was pleased with the results.

“We are delighted to continue to deliver growing revenues and profits keeping in line with our improved financial achievements during 2018. The successful implementation of our strategic plans across the Batelco Group has established a very sound platform which our teams continue to build on.”

He added: “Investment in fibre and data, two key areas of our focus, has helped to generate good growth in revenues, while our net profits have been boosted by 11% year-on-year supported by cost containment programmes.”

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