- Zain Bahrain Q2 2024 net profit increased by 2.6 % to reach BD 1.35 million
- EBITDA for H1 2024 increased by 7.6% to BD 11.79 million from 10.96 million in H1 2023.
- Revenue for the first six-months of 2024 reached BD 38.44 million, an increase of 3.5% compared to BD 37.12 million for the same period in 2023.
- His Excellency Shaikh Ahmed, Zain Bahrain Chairman: [i”[/i] I am proud to share that Zain Bahrain has emerged as a leader in 5G innovation, with speeds exceeding 6 Gbps in its latest trial conducted in partnership with Ericsson. This achievement is a testament to Zain’s relentless pursuit of excellence and dedication to pushing technological advancement’s boundaries.”
Zain Bahrain (BSE: ZAINBH), a telecommunications industry innovator in the Kingdom, announced its financial results for the second quarter (Q2 2024) and 1st Half of 2024.
The operator reported a net profit of BD 1.35 million for the three months ended 30 June 2024, representing an increase of 2.6% from BD 1.32 million in Q2 2023. Basic and diluted earnings per share remained stable at 4 fils. EBITDA for Q2 2024 increased by 11.9% reaching BD 6.09 million from BD 5.44 million in Q2 2023. Revenue for Q2 2024 remained stable at 18.93 million compared to Q2 2023.
For the six months ended 30 June 2024, Zain Bahrain reported net profit of BD 2.42 million, representing a 11.9% decrease from BD 2.75 million in H1 2023. Basic and diluted earnings per share for H1 2024 is 7 fils compared to 8 fils in H1 2023. EBITDA for H1 2024 increased by 7.6% to BD 11.79 million from 10.96 million for the same period in 2023. Revenue for H1 2024 reached BD 38.44 million, an increase of 3.5% compared to BD 37.12 million for the same period in 2023.
Zain Bahrain’s balance sheet remains strong with a total equity of BD 84.73 million as of 30 June 2024, compared to BD 85.66 million for the year ended 31 December 2023, a slight decrease of 1.1%. The company’s assets as of 30 June 2024 stood at BD 133.82 million, from BD 137.63 million as of 31 December 2023, a decrease of 2.8%.
Commenting on the results, Zain Bahrain Chairman, His Excellency Shaikh Ahmed bin Ali Al Khalifa said, “I am pleased to announce that during this quarter, Zain Bahrain has significantly expanded its business solution offerings, embraced innovative solutions, and launched a range of consumer and enterprise services. The telco continued to successfully forge new partnerships with esteemed organizations to expand its reach and create new opportunities for mutual growth and success across the Kingdom.”
Zain Bahrain Chairman continued, “Furthermore, I am proud to share that Zain Bahrain has emerged as a leader in 5G innovation, with speeds exceeding 6 Gbps in its latest trial conducted in partnership with Ericsson. This achievement is a testament to Zain’s relentless pursuit of excellence and dedication to pushing technological advancement’s boundaries. We have also won four awards at GHEDEX 2024 for Human Capital Development, Hybrid Working Strategy, Workplace Culture and Employee Wellness, and Leadership Development Program. These accolades highlight Zain’s dedication to workforce development, innovative talent management, resulting in an impressive 93% Bahrainization in the Zain workforce.”
“As we move forward, I am confident that Zain Bahrain will continue to thrive and excel in the ever-evolving landscape of telecom and fintech, unlocking economic opportunities, improving financial well-being, and driving sustainable future growth. Zain Bahrain’s commitment to innovation, excellence, and customer experience is unwavering, and we are poised to grasp new opportunities and overcome challenges with resilience and determination,” concluded the Zain Bahrain Chairman.
The financial information and Zain Bahrain’s financial results announcement press release are available on the Bahrain Bourse website: www.bahrainbourse.com.
Zain Bahrain’s Key Achievements in Q2 2024:
Customer Experience:
Announced Zain Mega Contest Season 6 with Exciting Prizes and Opportunities
Launched Mega Contest Season 6, offering customers a chance to win valuable prizes until May 2025. This highlights the telco’s commitment to rewarding customer loyalty and enhancing customer engagement to deliver an exceptional experience.
Network:
Leads the Region in 5G Innovation, With Speeds Exceeding 6 Gbps in Latest Trial with Ericsson
In a recent trial with Ericsson, Zain Bahrain takes the lead in regional 5G innovation by achieving record-breaking speeds exceeding 6 Gbps. This accomplishment allows more devices to connect simultaneously without sacrificing speed, ultimately enhancing user experience and showcasing Zain Bahrain’s commitment to delivering exceptional connectivity.
Sustainability & Inclusion (Zaina Fel Ain)
Concluded the 4th Edition of the National School Z-Waste Competition in Collaboration with the Ministry of Education, Supreme Council for Environment, and Crown Industries
Successfully concluded the 4th edition of the national school Z-waste competition with the participation of over 35 schools and has collected more than 13.6 tons of electronic waste over the years since its initiation. This competition reflects the telco’s commitment to environmental sustainability and supports the UN’s Sustainable Development Goals.
Partnerships
Partnered with Bahrain Polytechnic to Provide Enhanced Network Service
Signed an agreement with Bahrain Polytechnic to provide advanced telecommunication services, enhancing connectivity for faculty, staff, and students through Zain Bahrain’s advanced network infrastructure and cutting-edge technologies to enhance the institution’s connectivity capabilities.
Awards
Zain Bahrain Wins Four Prestigious Awards at GHEDEX Bahrain 2024
Received four awards at GHEDEX 2024 for Human Capital Development, Hybrid Working Strategy, Workplace Culture and Employee Wellness, and Leadership Development Program. These accolades highlight Zain’s dedication to workforce development, innovative talent management, and commitment to creating a supportive and inclusive work environment.
