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Bahrain Telecommunications Company (Beyon) announced net profit attributable to equity holders of the company for Q4 2023 of BD16.5 million ($43.8m), a 2 per cent increase from BD16.2m ($43m) for the corresponding quarter of 2022.
Earnings per share (EPS) are 10 fils for the fourth quarter of 2023 compared to 9.8 fils in Q4 2022.
Total comprehensive income attributable to equity holders in Q4 2023 was reported at BD24.8m, a 12pc increase from BD22.1m in the fourth quarter of 2022, mainly due to investment fair value changes.
Operating profit in Q4 2023 increased by 2pc to BD24.4m from BD24m in Q4 2022. EBITDA stands at BD40.4m in Q4 2023 compared to BD41.8m in Q4 2022, a decrease of 3pc.
Revenues for the fourth quarter of 2023 increased by 5pc to BD109.5m compared to BD104.6m in Q4 2022.
For the full year of 2023, net profit attributable to equity holders of the company of BD72m increased by 2pc compared to BD70.3m in 2022. Earnings per share (EPS) are 43.6 fils for the year compared to an EPS of 42.5 for the corresponding period in 2022.
Total comprehensive income attributable to equity holders of the company during the year is up by 57pc from BD58.2m in 2022 to BD91.6m in 2023 resulting from foreign exchange translation differences and investment fair value changes.
Operating profits increased by 11pc from BD93.6m in 2022 to BD104m in 2023. Similarly, EBITDA increased by 3pc from BD165.4m in 2022 to BD171.1m in 2023. The company maintained a healthy EBITDA margin of 40pc in 2023.
Revenues for the full year of BD424.9m increased by 5pc from BD402.8m of revenues in 2022, mainly due to increases in mobile, wholesale and digital services.
Beyon was able to grow its overall customer base by 2pc YoY with increases in mobile customers of 11pc in Batelco Bahrain, 5pc in Umniah in Jordan and 3pc in Sure Group.
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