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Batelco Group Announces 2012 Financial Results; Reports BD60 million (US$160 million) of Net Profits; Grows Subscriber Base by 18% to 7.8 Million
 
 
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Tuesday, 22nd January 2013 - Manama, Bahrain: Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, today announced its results for the twelve-months ended 31 December 2012 ("the year"), which were marked by sound financial results and operating performance at its subsidiaries across the MENA region.

Financial and Subscriber Highlights
Ø Gross Revenues of BD304.7M (US$808.2M) for the year;

Ø EBITDA of BD101.8M (US$270.0M) representing a 33% margin for the full year; adjusted EBITDA normalised for one-offs was BD123.0M (US$326.0) at 40%;

Ø Consolidated Net Profit of BD60.3M (US$160.0M) for the year;

Ø Subscriber base of 7.8 million, an increase of 18% YoY, when normalized. This includes 17% growth in mobile customers and 52% growth of the broadband subscriber base;

Ø Continued diversification of Group revenues with 41% of revenues and 39% of EBITDA now sourced from markets outside Bahrain;

Ø Successful execution of growth strategy with announced plans to acquire equity interest in Cable & Wireless Communications' (CWC) operations across 11 new markets to support greater diversification, revenue and subscriber growth;

Ø Progress on cost leadership, with the launch of restructuring programme, which will drive savings of BD20M annually from 2014 onwards;

Ø Significant cash and bank balances totaling BD95.0M (US$252.0M) at year end and low debt;

Ø Recommended cash dividends of BD36.0M (US$95.5M) for the full year, equivalent to 25 fils per share, marking ongoing ability to deliver value to shareholders; and 10% bonus share issue, awarding one extra share for every 10 shares currently held by the Company's shareholders.

Ø A sound overall financial position as affirmed by a continued Investment Grade Credit Ratings from Fitch and Standard & Poor's Ratings Services.

This press release has been issued by Batelco Corporate Affairs department.

For further information, please contact Batelco Public Relations Office

Public.Relations@btc.com.bh / Fax +973 17611898

Press release posted on: Jan 22 2013

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CategoryDescription
Telecommunications
 
http://www.batelco.com
Country: Bahrain

Bahrain Telecommunications Company (Batelco) is the leading integrated communications provider in the Kingdom of Bahrain and an emerging force among the regions key telecommunications players.

Batelco serves both the corporate and consumer markets in the most liberalised and competitive environment in the Middle East, and remains committed to delivering cutting-edge telecommunications to its customers in Bahrain and the MENA region. The Company's management and staff are driven by an enthusiasm for delivering the best customer experience based on innovation, affordability and reliability of products and services.

Batelco's specialised services cover the full spectrum of telecommunications solutions for residential and business customers and span a comprehensive range of mobile services, international roaming, high-speed Internet connections, satellite services, WiFi, MPLS IP-VPN network provisioning and management, Datacoms services over fixed, wireless and internet platforms, managed services, systems integration and enterprise solutions.

Batelco has invested US$1.4 billion in Bahrain's telecom infrastructure over the past 26 years, including significant investment in Next Generation Networks infrastructure which has reinforced the Kingdom's position as a leading communications hub. The Company's shares are listed on the Bahrain Stock Exchange with a total capitalization of approx US$ 3.2 billion as of February 2008.

With an ongoing strategy to grow overseas, the Batelco Group incorporates joint venture operations in Jordan, Kuwait, Yemen, Saudi Arabia and Egypt.

Batelco Main Number 17 88 18 81













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