Zain Bahrain Q3 2020 results show net profit up 21% – successful expansion of its 5G network
Revenue for Q3 2020 amounted to US$39.345 million, down by 2.688% as compared to the US$40.432 million reported in Q3 2019. Earnings per share in Q3 2020 reached 4 fils, up 33% from the 3 fils in Q3 2019. Operating profit for Q3 2020 reached US$4.630 million, an increase of 13% Y-o-Y, compared to the US$4.07 million recorded in Q3 2019.
For the nine months ending September 30, 2020 year-to-date, Zain Bahrain reported net profit of US$9.831 million, representing a 3% decrease Y-o-Y from US$10.120 million for the same period in 2019. Zain Bahrain generated revenues of US$122.685 million during the first nine months of 2020, an increase of 1% Y-o-Y. The revenue was driven by mobile data and broadband usage, as well as the continual expansion of the 5G network across the Kingdom. Earnings per share remained resilient at 10 fils for both nine-month periods in 2019 and 2020. Operating profit for the nine-month period in 2020 reached US$11.681 million, a 5% decrease on the US$12.29 million recorded in 2019.
The recent commercial launch of 5G services offers incredible mobile experiences to our customers, accelerating new innovative business models and unlocking opportunities for many sectors. With the ever-increasing demand for mobile data and broadband services due to the unprecedented times we face, the resilience and capability of broadband networks has become even more critical for us.
His Excellency Shaikh Ahmed bin Ali Al Khalifa, Chairman of Zain Bahrain
Shareholders equity stood at US$195.712 million, up 4% Y-o-Y, from US$187.815 million in 2019. Zain Bahrain’s asset base as of September 30, 2020 stood at BD122.780 million (US$325.675 million), up 6% Y-o-Y from US$308.680 million in 2019.
Key achievements of Q3 include the expansion of Zain Bahrain’s 5G services footprint in the Kingdom accelerating business opportunities for many sector and a significant investment in 5G and 4G infrastructure resulting in enhanced experience with faster internet speeds and improved indoor coverage.
The Zain Bahrain team is working tirelessly to ensure that connectivity and communication services operate in a reliable, stable, and secure manner. The Q3 results are a testament to the fact that our customer and digital-first strategies are empowering our customers, and we are committed to increasing the capacity of broadband connections, enhancing network performance and digital services to cater for unprecedented levels of data usage. We would like to take this opportunity to thank the Government of Bahrain for its outstanding performance in handling the Covid-19 pandemic.
His Excellency Shaikh Ahmed bin Ali Al Khalifa, Chairman of Zain Bahrain
