Zain Bahrain (Ticker: ZAINBH), the most innovative operator in the Kingdom, announced its results for the nine-month period to 30 September 2015.
The operator recorded net profit of BD 3.412 million (US$ 9.026 million) for the nine-month period compared to BD 2.924 million (US$ 7.735 million) for the corresponding period in 2014, representing an increase of 16.7%. Net profit for the three months to September 2015 amounted to BD 1.338 million (US$ 3.539 million) compared to BD 700,000 (US$ 1.851 million) reported for the same period in 2014, an increase of 91%. EBITDA for the nine month period was BD 21.0 million (US$ 55.555 million), representing a 38.6% margin, compared to EBITDA of BD 20.2 million (US$53.439 million) for the previous year.
The company recorded revenues of BD 53.630 million (US$141.878 million) for the nine months, a decrease of 7.6% from the same period in 2014 which stood at BD 54.041 million (US$ 142.965 million) while representing 5% growth from the second quarter of 2015 (i.e. from BD 17.489 million to BD 18.508 million).
The rise in company’s profits was marked by strong positioning in data and the drive of efficiencies across the operation. At the end of the third quarter, Zain Bahrain maintained a strong growth in its customer base by 3% (from 787,000 to 814,000 active customers) while demand for broadband services increased.
Commenting on the company’s financial results, Zain Bahrain’s Chairman, Sheikh Ahmed Bin Ali Al Khalifa said: “Our continued focus on maximizing customer experience has enabled Zain Bahrain to maintain its market leadership resulting in an encouraging set of financial and operational results.”
Sheikh Ahmed continued “We are pleased that our focus in customer experience has led to exponential growth in mobile data subscribers. Zain Bahrain is committed to fostering innovation, and success can only be achieved by enabling innovation across the full spectrum of products and services,” added Sheikh Ahmed.
“We ended the third quarter with a growing customer base and positive financial results. We will continue to drive our operations towards growth and allow a better alignment with the competitive environment of the industry,” said Sheikh Ahmed.
Key operational and commercial notes for Q3 2015
• Zain Bahrain launched a series of innovation initiatives during the third quarter of this year. A new service aimed at limiting in-store waiting time across its retail network was introduced. The new service, utilizing the latest technology to achieve higher levels of customer satisfaction, offers more ease and convenience to the operator’s growing customer base by allowing them to schedule appointments based on their busy schedule.
• Another key initiative was the launch of the ‘Smart Desk’ within four of its retail branches. The customer-focused solution aims to provide Zain customers with walk-in technical support related to devices and services provided by the operator.
• Further strengthening its ties with the expatriate community, Zain Bahrain announced a partnership with the National Finance and Exchange Company (NAFEX), one of the leading providers of foreign exchange services in the Kingdom. NAFEX customers receive three free Zain ‘dangerous’ SIM cards with every money remittance they make in any of the company’s widely spread branches.
• Zain Bahrain launched a series of outreach programs in Ramadhan under the theme of, ‘Enrich Your Ramadan’. Initiatives included the launch of a tailor-made package for individuals with special needs and a Ghabga in collaboration with Bahrain Mobility Institute.
• Eighteen students joined the 2015 Summer Training Program under Zain Bahrain’s Future University Network (F.U.N) initiative. The unique training program provides university undergraduates with the opportunity to gain valuable and real-life workplace experience through different specialized human development programs.
• Under the patronage of HH Sheikh Nasser bin Hamad Al Khalifa, Chairman of the Board of trustees to the Royal Charity Organization, Zain Bahrain celebrated the 12th edition of its ‘Back to School’ project.