Page 32 - SAMENA Trends - October 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Batelco Net Profit Up 9% in Q3, Revenues Grow

2%

Bahraini telecoms group Batelco has announced its financial in fixed broadband and adjacent services and 3% increase in
results for the quarter and nine months ended 30 September 2021, wholesale revenues contributing positively to this.’
reporting a 9% year-on-year increase in net profit for the quarter
to BHD15.7 million (USD41.4 million), while net profit for the
first nine months of 2021 reached BHD53.2 million, a rise of 6%.
Revenues grew 2% y-o-y to BHD98.2 million in the third quarter
and by 4% to BHD296.4 million in 9M21, mainly driven by y-o-y
increases in fixed broadband, adjacent services and wholesale
revenues of 15%, 15% and 3% respectively. Operating profit for the
quarter, meanwhile, was 8% higher at BHD21.8 million (up 5% to
BHD71.0 million in 9M21) and EBITDA stood at BHD40.6 million
in 3Q21 compared to BHD38.2 million in the same period of 2020,
an increase of 6%. For the first nine months of 2021, EBITDA rose
5% to BHD126.0 million, with a ‘healthy’ EBITDA margin of 43%.
Batelco’s total subscriber base stood at 3.9 million at the end of
September, an increase from 3.8 million twelve months earlier,
with international operations contributing 53% of both revenues
(unchanged y-o-y) and EBITDA (up two percentage points).
Commenting on the company’s operational performance, Batelco
CEO Mikkel Vinter said: ‘I’m happy that we have maintained the
momentum set in the first six months of 2021 to deliver sound
financial results, with a year-on-year increase of 15% respectively

Batelco Wins ‘Cloud Go-to-Market Initiative of the Year’ Award at tahawultech.
com Future Enterprise Awards 2021

Batelco has been recognized for its cloud- technology, cybersecurity, and the region’s transform the business operations of
based technologies at the TahawulTech. IT channel industry, and bringing business their customers. The TahawulTech.com
com Future Enterprise Awards 2021, leaders and technology decision makers Future Enterprise Awards 2021 took place
winning the “Cloud Go-to-Market Initiative together to share their transformation on October 17th at the Ritz-Carlton DIFC,
of the Year” Award, in acknowledgement of stories. The awards honor companies coinciding with GITEX 2021, currently
the ground-breaking solutions developed and individuals across the Middle East for being held at the World Trade Centre
by the Company. TahawulTech is a their outstanding work in the IT sphere. in Dubai. The award was accepted by
leading platform in the Middle East for IT They celebrate enterprises and IT leaders Batelco’s Director of Enterprise Digital
content, covering stories across enterprise that have pioneered new solutions to Solutions, Saad Al Rashed. The “Cloud
Go-to-Market Initiative” award is given
to a regional organization that has done
the most to advance the uptake of cloud-
based technologies over the past year, with
Batelco’s delivery of UCaaS and CCaaS in
collaboration with Avaya contributing to
the win. Abdulla Danesh, General Manager
Enterprise Division at Batelco, said: “We
are delighted to receive the “Cloud Go-to-
Market Initiative of the Year” award. We are
proud to be recognized for our cloud-based
services that meet our customers’ needs
and demands for the best quality solutions.
Our delivery is aimed at contributing to
the growth of the IT segment, keeping our
customers’ requirements at the forefront,”
Mr. Danesh added.
32 OCTOBER 2021