Batelco announces 2021 Q4 and full year financial results

Batelco announces 2021 Q4 and full year financial results

Manama, Bahrain: Batelco (Ticker: BATELCO), announced net profit attributable to equity holders of the company for Q4 2021 of BD12.7M (US$33.7M), a 95% increase from BD6.5M (US$17.2M) for the corresponding quarter of 2020. Earnings per share (EPS) are 7.7 fils for the fourth quarter of 2021 compared to 3.9 fils in Q4 2020. Total comprehensive income attributable to equity holders in Q4 2021 was reported at BD11.2M (US$29.7M), a 7% increase from BD10.5M (US$27.9M) in the fourth quarter of 2020.

Revenues for the fourth quarter in 2021 of BD103.3M (US$274.0M) increased by 2% compared to BD101.6M (US$269.5M) in Q4 2020. Operating profit for Q4 2021 is up by 34% to BD18.1M (US$48.0M) from BD13.5M (US$35.8M) in Q4 2020. EBITDA stands at BD37.0M (US$98.1M) in Q4 2021 compared to BD34.6M (US$91.8M) in Q4 2020, an increase of 7%.

For the full year of 2021, net profit attributable to equity holders of the company of BD65.9M (US$174.8M) increased by 16% from BD56.7M (US$150.4M) in 2020. The increase in net profit is mainly attributable to increases in revenues throughout the year. Earnings per share (EPS) are 39.8 fils for the year compared to an EPS of 34.2 for 2020.

Total comprehensive income attributable to equity holders