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Zain Bahrain, a leading telecommunications provider in the kingdom, announced its financial results for the fourth quarter (Q4 2024) and full year ended December 31, 2024.
For Q4 2024, Zain Bahrain reported a total profit attributable to the shareholders of BD1.88 million representing a 29.6 per cent increase compared to BD1.45m for the same period in the previous year with basic and diluted earnings per share of 5 fils. Revenue, meanwhile, increased to BD19.80m, representing a growth of 7.3pc compared to BD18.45m for the same period in the previous year. EBITDA reached BD5.44m, down by 5.6pc from BD5.76m in Q4 2023.
The company reported a 2pc increase in total profit for the year attributable to the shareholders amounting to BD5.92m for the year ended December 31, 2024, compared to BD5.81m in the previous year. Basic and diluted earnings per share stood at 16 fils for the year ended December 31, 2024. Revenue generated in 2024 accumulated to BD77.24m, a 6.8pc jump from BD72.32m in 2023. EBITDA increased to BD23.58m for the year ended December 31, 2024, from BD22.45m in the previous year.
Zain Bahrain’s total equity as of December 31, 2024 accumulated to BD88.12m, up by 2.8pc from BD85.66m at the end of 2023. The company’s asset base stood at BD141.91m, a 3.1pc increase from BD137.63m in 2023.
Zain Bahrain’s board of directors recommended annual dividends representing 9pc of the company’s paid-up capital, equivalent to 9 fils per share, which totals to a dividend amount of BD3.275m, reflecting a 55pc payout ratio, subject to the annual general meeting approval.
Zain Bahrain chairman Shaikh Ahmed bin Ali Al Khalifa said: “This year has been one of growth, resilience, and transformation - achievements that we are incredibly proud of and that lay the foundations for a brighter future. I am proud to share the outstanding progress we have made in delivering exceptional value to our customers, shareholders, and the Kingdom of Bahrain.
“Innovation and digital transformation were key drivers of Zain’s healthy revenue growth, which was attributed to the development of new services and products. We remained focused on investing in our networks and building our digital capabilities, which are important to our customers and future success.
“We are thrilled to share that Zain Bahrain has been recognised with the prestigious Employer of the Year Award in the Private Sector at the 12th annual GCC GOV HR and Youth Summit and Awards. This accolade is a testament to our unwavering commitment to nurturing a positive workplace culture and supporting employee growth. Moreover, we are delighted to announce that Zain Bahrain has maintained a remarkable Bahrainisation rate of 93.33pc and was recognised by the Labor Ministry as one of the top 10 companies achieving the highest Bahraini employment rate in 2024.
“One of the significant milestones we achieved towards the end of the year was our collaboration with BNET, the national fibre network operator, to successfully transfer Zain Bahrain’s fixed-fibre backhaul network assets. This strategic move enhances the efficiency and scalability of our network, playing a key role in supporting Bahrain’s National Telecom Plan (NTP5). Our partnership with BNET aligns with our mission to contribute to Bahrain’s vision of becoming a digital powerhouse in the region, and we are confident that this collaboration will further strengthen our position as the leading telecom provider in the kingdom.”
Zain Bahrain’s chairman concluded: “As we look towards the future, Zain Bahrain is poised to remain a leader in telecom and technology. In 2025, we aim to continue focusing on innovation and sustainability and provide customers with the best services and experiences with new business models, 5G adoption, and Al.”
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