Beyon yesterday announced its financial results for the second quarter and first half of 2025.
Beyon reported net profit attributable to equity holders of BD17.2 million ($45.6m) for Q2 2025, a 13 per cent decrease from BD19.8m ($52.5m) reported for the corresponding quarter of 2024. The YoY decline in net profit attributable to equity holders is mainly due to additional taxes from the application of domestic minimum top-taxes, effective January 1, 2025, and acquisition charges associated with the acquisitions completed in 2024.
Earnings per share (EPS) are 10.4 fils for the second quarter of 2025, compared to 12.0 fils in Q2 2024.
Total comprehensive income attributable to equity holders in Q2 2025 was reported at BD26.7m ($70.8m), a 53pc increase from BD17.4m ($46.2m) in the second quarter of 2024, mainly due to favourable foreign currency translation differences and investment fair value changes.
Operating profit in Q2 2025 of BD28.5m ($75.6m) is in line with BD28.5m ($75.6m) reported in Q2 2024. EBITDA stands at BD46.9m ($124.4m) in Q2 2025 compared to BD45.2m ($119.9m) in Q2 2024, an increase of 4pc. The company maintained a healthy EBITDA margin of 37pc in Q2 2025.
Revenues for the second quarter of 2025 increased by 11pc to BD125.3m ($332.4m) compared to BD112.5m ($298.4m) in Q2 2024.
For the first six months of 2025, net profit attributable to equity holders of the company of BD35.3m ($93.6m) decreased by 9pc compared to BD38.6m ($102.4m) in 2024, mainly due to DMTT and acquisition related charges. EPS are 21.3 fils for the period compared to an EPS of 23.3 fils for H1 2024.
Total comprehensive income attributable to equity holders of the company decreased by 32pc from BD57.1m ($151.5m) in H1 2024 to BD38.6m ($102.4m) in H1 2025 mainly due to investment fair value changes.
Operating profits decreased by 2pc from BD55.6m ($147.5m) in H1 2024 to BD54.5m ($144.6m) in H1 2025. However, EBITDA increased by 3pc from BD89.2m ($236.6m) in H1 2024 to BD92.3m ($244.8m) in H1 2025. The company maintained a healthy EBITDA margin of 38pc in H1 2025.
Revenues for the first six months of the year of BD242.8m ($644.0m) increased by 9pc from BD222.9m ($591.2m) of revenues in H1 2024, mainly due to increases in mobile, fixed broadband, wholesale and digital services. Beyon was able to grow its overall customer base by 6pc YoY with a 7pc and 3pc increase in mobile and broadband subscribers respectively.
Beyon’s balance sheet remains strong with total equity attributable to equity holders of the company of BD567.8m ($1,506.1m) as of June 30, 2025, 1pc higher than BD564.2m ($1,496.6m) reported as of December 31, 2024.
Total assets of BD1,274.6m ($3,380.9m) as of June 30, 2025 are 1pc higher than total assets of BD1,256.0m ($3,331.6m) as of December 31, 2024. Net assets as of June 30, 2025 which stand at BD624.7m ($1,657.0m) are in line with BD621.8m ($1,649.3m) reported as of December 31, 2024. The company reported cash and bank balances of BD125.9m ($334.0m) as of June 30, 2025.
The board of directors approved an interim cash dividend for shareholders of 13.5 fils per share or 13.5pc of paid-up capital for the six-month period of 2025. This is in line with the 2024 interim dividend payment and the board of directors’ commitment to continuously deliver strong returns to shareholders.
Commenting on the results, Beyon chairman Shaikh Abdulla bin Khalifa Al Khalifa said: “The board is pleased to see Beyon continuing the positive trajectory established in previous quarters, delivering solid revenue growth and a healthy EBITDA margin in the second half of 2025. The group’s performance remains is in line with expectations and reflects the continued strength of our strategy.”
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