Batelco recently announced net profit attributable to equity holders of the company for Q4 2021 of US$33.7M, an increase from US$17.2M for the corresponding quarter of 2020. Earnings per share (EPS). Total comprehensive income attributable to equity holders in Q4 2021 was reported at BD11.2M (US$29.7M), a 7% increase from BD10.5M (US$27.9M) in the fourth quarter of 2020.
Revenues for the fourth quarter in 2021 of US$274.0M increased by 2% compared to US$269.5M in Q4 2020. Operating profit for Q4 2021 is up by 34% to BD18.1M (US$48.0M) from BD13.5M (US$35.8M) in Q4 2020.
Batelco Chairman Shaikh Abdulla bin Khalifa Al Khalifa announce the 2021 4th Quarter and full year financial results following a meeting of the Board of Directors on Thursday 24 February at Batelco Headquarters, Hamala, Kingdom of Bahrain.
“The Board is very pleased to finish 2021 with positive financial results, achieving 16% increase in Net Profits, 3% increase in Revenues, and Operating Profit and EBITDA up by 10% and 5% respectively. The results for 2021 reflect the successful execution of Batelco’s strategy which include strengthening the core business and implementing new and upgraded solutions as part of the Company’s ambitious digitisation plans.”
“The past year was distinguished by key achievements across our core businesses and advances in our digital growth, including the launch of Batelco’s first digital brand, Beyon Money. We are extremely happy to enter this new chapter and look forward to seeing the developments in the coming year.”
“Reflecting the importance of people, Batelco continued with initiatives aimed at nurturing its team members, developing a high-performance culture and an admirable workplace environment. I am delighted to note that these efforts resulted in Batelco being recognised as a great workplace, by Great Place to Work® Institute Middle East, for the second year. Furthermore, I personally presented rewards to Batelco’s team members who were selected throughout 2021 as part of the 2nd annual Chairman’s Award programme.”
“The combined knowledge and experience contributed by my colleagues on the Board is invaluable and I offer each one my personal thanks for the roles they played in helping to ensure we continued to meet the expectations of Batelco’s shareholders. I also offer my appreciation to Batelco’s management and team members for their efforts in implementing Batelco’s strategy, which helped to deliver this strong set of financial results.”
“Batelco’s Board places great importance on meeting shareholders’ expectations and we are pleased to announce a good increase in EPS for 2021. On behalf of my colleagues, I want to thank our shareholders for the confidence they place in our strategic direction, and we will remain committed to delivering excellent returns on their investment in the year ahead.”
“Batelco was gratified to see the government announcement of a new national economic growth and fiscal balance plan aimed at supporting the post-Covid recovery. Accordingly, on behalf of Batelco’s Board I would like to extend my sincere gratitude to His Majesty King Hamad bin Isa Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, for the ongoing support which is vital for all sectors including telecoms.”
“The many successes of 2021 have provided us with a strong platform as we take on ambitious plans for 2022. Digital growth will continue to factor strongly in the Company’s plans to play a bigger role in areas beyond our traditional core business. I have confidence in the commitment of Batelco’s management and team members and look forward to a successful year ahead,” Shaikh Abdulla concluded.