Zain Bahrain, a leading telecommunications provider in the kingdom, has reported a revenue of BD77.24 million ($203 million) for FY2024, reflecting a 6.8% increase from BD72.32 million ($190 million) in the previous year. The company’s total profit for the year attributable to shareholders rose by 2%, reaching BD5.92 million, compared to BD5.81 million in FY2023.
The company reported basic and diluted earnings per share of 16 fils for the year. EBITDA increased to BD23.58 million for the 12 months ending December 31, 2024, up from BD22.45 million the previous year. Zain Bahrain’s total equity at the end of 2024 was BD88.12 million, reflecting a 2.8% increase from BD85.66 million at the close of 2023. Its total asset base grew by 3.1%, reaching BD141.91 million, compared to BD137.63 million in 2023.
For Q4, Zain Bahrain’s profit attributable to shareholders rose by 29.6%, reaching BD1.88 million, up from BD1.45 million in Q4 2023. Revenue for the fourth quarter increased by 7.3%, amounting to BD19.80 million, compared to BD18.45 million in the same period of the previous year. EBITDA for Q4 decreased by 5.6%, reaching BD5.44 million, down from BD5.76 million in Q4 2023.
The Board of Directors has recommended an annual dividend of 9 fils per share, equivalent to BD3.275 million, reflecting a 55% payout ratio, subject to approval at the Annual General Meeting. Zain Bahrain’s Chairman, Shaikh Ahmed bin Ali Al Khalifa, expressed pride in the company’s growth and transformation during the year, emphasizing innovation and digital transformation as key drivers of the strong financial results.
Zain Bahrain was also honored with the Employer of the Year Award in the Private Sector at the 12th Annual GCC GOV HR & Youth Summit and Awards. The company achieved a Bahrainization rate of 93.33% and was recognized by the Ministry of Labor as one of the top 10 companies for Bahraini employment in 2024.
A significant milestone for Zain Bahrain was its collaboration with BNET, the national fiber network operator, to transfer the company’s fixed-fiber backhaul network assets. This strategic move enhances the efficiency and scalability of Zain Bahrain’s network, aligning with Bahrain’s National Telecom Plan (NTP5) and supporting the country’s goal of becoming a digital powerhouse.
Looking ahead to 2025, Zain Bahrain plans to continue focusing on innovation, sustainability, 5G adoption, and artificial intelligence, ensuring that it remains a leader in telecom and technology in the region.
