Zain Bahrain announces its Financial Results for Q4 and full year ended 31 December 2024

• The company reported a 2% increase in total profit for the year attributable to the shareholders amounting to BD 5.92 million for the year ended 31 December 2024.
• Revenue generated in 2024 accumulated to BD 77.24 million, a 6.8% jump from BD 72.32 million in 2023.
• Zain Bahrain Chairman: “Innovation and digital transformation were key drivers of Zain’s healthy revenue growth, which was attributed to the development of new services and products. We remained focused on investing in our networks and building our digital capabilities, which are important to our customers and future success.”

Zain Bahrain (Ticker: ZAINBH), a leading telecommunications provider in the Kingdom, announced its financial results for the fourth quarter (Q4 2024) and full year ended 31 December 2024

For Q4 2024, Zain Bahrain reported a total profit attributable to the shareholders of BD 1.88 million representing a 29.6% increase compared to BD 1.45 million for the same period in the previous year with Basic and Diluted earnings per share of 5 fils. Revenue, meanwhile, increased to BD 19.80 million, representing a growth of 7.3% compared to BD 18.45 million for the same period in the previous year. EBITDA reached BD 5.44 million, down by 5.6% from BD 5.76 million in Q4 2023. 

The company reported a 2% increase in total profit for the year attributable to the shareholders amounting to BD 5.92 million for the year ended 31 December 2024, compared to BD 5.81 million in the previous year. Basic and Diluted earnings per share stood at 16 fils for the year ended 31 December 2024. Revenue generated in 2024 accumulated to BD 77.24 million, a 6.8% jump from BD 72.32 million in 2023. EBITDA increased to BD 23.58 million for the year ended 31 December 2024, from BD 22.45 million in the previous year.

Zain Bahrain’s total equity as of 31 December 2024 accumulated to BD 88.12 million, up by 2.8% from BD 85.66 million at the end of 2023. The Company’s asset base stood at BD 141.91 million, a 3.1% increase from BD 137.63 million in 2023.

Zain Bahrain’s Board of Directors recommended annual dividends representing 9% of the company’s paid-up capital, equivalent to 9 fils per share, which totals to a dividend amount of BD 3.275 million, reflecting a 55% payout ratio, subject to the Annual General Meeting approval.

Zain Bahrain Chairman H.E Shaikh Ahmed bin Ali Al Khalifa said, "This year has been one of growth, resilience, and transformation—achievements that we are incredibly proud of and that lay the foundations for a brighter future. I am proud to share the outstanding progress we have made in delivering exceptional value to our customers, shareholders, and the Kingdom of Bahrain.

Innovation and digital transformation were key drivers of Zain’s healthy revenue growth, which was attributed to the development of new services and products. We remained focused on investing in our networks and building our digital capabilities, which are important to our customers and future success.

We are thrilled to share that Zain Bahrain has been recognized with the prestigious Employer of the Year Award in the Private Sector at the 12th Annual GCC GOV HR & Youth Summit and Awards. This accolade is a testament to our unwavering commitment to nurturing a positive workplace culture and supporting employee growth. Moreover, we are delighted to announce that Zain Bahrain has maintained a remarkable Bahrainization rate of 93.33% and was recognized by the Ministry of Labor as one of the top 10 companies achieving the highest Bahraini employment rate in 2024.

One of the significant milestones we achieved towards the end of the year was our collaboration with BNET, the national fiber network operator, to successfully transfer Zain Bahrain’s fixed-fiber backhaul network assets. This strategic move enhances the efficiency and scalability of our network, playing a key role in supporting Bahrain’s National Telecom Plan (NTP5). Our partnership with BNET aligns with our mission to contribute to Bahrain’s vision of becoming a digital powerhouse in the region, and we are confident that this collaboration will further strengthen our position as the leading telecom provider in the Kingdom.”

Zain Bahrain’s Chairman concluded, "As we look toward the future, Zain Bahrain is poised to remain a leader in telecom and technology. In 2025, we aim to continue focusing on innovation and sustainability and provide customers with the best services and experiences with new business models, 5G adoption, and Al"

The complete financial statements and Zain Bahrain’s financial results announcement press release are available on the Bahrain Bourse website, www.bahrainbourse.com

Zain Bahrain key achievements Q4 2024:

Network

• Completed the Fiber Backhaul Asset Transfer Deal with BNET 

Announced successful transfer of Zain Bahrain fixed-fiber backhaul network assets with BNET which is designed to support mobile network operations and promote equitable access to infrastructure.

Customer Relations:

• Wiyana Entertainment Launch in Partnership with TOD and Shahid 

Announced an exciting enhancement to the popular Wiyana postpaid plans. The new Wiyana Entertainment offers customers complimentary subscriptions to premium streaming platforms, Shahid and TOD, which will enhance their digital experience.  

Sustainability and Inclusivity (AlZaina fil Ain):

• Unveiled New Green Solution with Ericsson Smart Hybrid Site 

Launched Ericsson Hybrid Power Solution, designed to significantly reduce fuel consumption by 25% and enhance operational efficiency. The Hybrid Power system combines a diesel generator with lithium batteries to optimize energy use.

• Participated in National Tree Week with Tree-Planting Ceremony

Zain Bahrain has reinforced its commitment to environmental sustainability with a tree-planting ceremony in celebration of the National Tree Week. Zain Bahrain’s involvement in this initiative reflects its ongoing dedication to fostering a greener future for the Kingdom.

• Planted 2000 in Support of National Bahrain Mangroves and Forever Green Initiatives

Supported the planting of 2,000 mangrove seedlings on the western coast of Eker in line with the Bahrain Mangrove initiative launched by His Highness Sheikh Mohammed bin Salman bin Hamad Al Khalifa and the Forever Green initiative.

Partnership:

• Hosted an event in collaboration with Nokia

Hosted an event in collaboration with Nokia to showcase the latest technologies in leveraging AI to enhance network operations. The event focused on the latest advancements in data center technologies, emphasizing innovative solutions that leverage artificial intelligence (AI) to enhance network operations and drive efficiency.

Awards:

• Awarded the “Innovative Partner of the Year 2024”.
• Awarded the “Best Visionary Partner of the Year 2024”.
• Received the “Employer of the Year Award in the Private Sector”.
• Honored the Sustainability in HR Award at the HRM Summit Awards 2024.
• Recognized by the Ministry of Labour for the outstanding efforts in employing the national workforce in the private sector.