Beyon has released its financial results for the first quarter of 2025, reporting a net profit of BHD 18.1 million (US$ 48.0 million), a 4% decrease from BHD 18.8 million (US$ 49.9 million) in Q1 2024. The decline is primarily attributed to the implementation of Domestic Minimum Top-Taxes (DMTT) starting in January 2025, along with acquisition-related charges from its 2024 expansion efforts. Earnings per share (EPS) were reported at 10.9 fils, down from 11.4 fils in Q1 2024.
Total comprehensive income for Q1 2025 was BHD 11.8 million (US$ 31.3 million), a significant 70% drop from BHD 39.7 million (US$ 105.3 million) in Q1 2024, mainly due to investment fair value changes. Operating profit for the quarter was BHD 26.0 million (US$ 69.0 million), a 4% decline from the previous year, while EBITDA rose by 3% to BHD 45.4 million (US$ 120.4 million), maintaining a strong EBITDA margin of 39%.
Revenues for Q1 2025 increased by 6% to BHD 117.6 million (US$ 311.9 million) compared to BHD 110.5 million (US$ 293.1 million) in Q1 2024. This growth was driven by higher demand across Beyon’s digital, wholesale, mobile, and fixed broadband services.
Beyon’s balance sheet remains robust, with total equity standing at BHD 540.9 million (US$ 1,434.7 million) as of March 31, 2025, a 4% decrease from the end of 2024. Total assets were largely stable at BHD 1,255.4 million (US$ 3,330.0 million). The company reported cash and bank balances of BHD 138.4 million (US$ 367.1 million) at the end of Q1 2025.
Shaikh Abdulla bin Khalifa Al Khalifa, Chairman of Beyon, highlighted that while non-operational factors such as taxes and acquisition costs contributed to the minor decline in net profit, Beyon remains well-positioned for future growth. He emphasized the company’s strong top-line performance, sustained EBITDA margin, and focus on long-term growth opportunities.
CEO Andrew Kvaalseth commented on the continued execution of Beyon’s growth strategy, citing the deployment of Bahrain’s first private 5G network for industrial use by Batelco and the company’s focus on expanding its digital solutions. Beyon Cyber received three major accolades at the 2025 Cyber Security Excellence Awards, and Beyon Solutions signed a strategic agreement with Oracle Cloud Infrastructure (OCI) to deliver cloud services in Bahrain.
Beyon remains confident in its strategy for 2025, with ongoing investments in innovation, infrastructure, and international expansion, ensuring sustainable returns and value for stakeholders.
