Zain Bahrain shows resilience in 2020 thanks to Digital Transformation strategy

  • Date: 13-Jul-2020
  • Source: Bizbahrain
  • Sector:Technology
  • Country:Bahrain
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Zain Bahrain shows resilience in 2020 thanks to Digital Transformation strategy

Zain Bahrain, a leading telecommunications provider in the Kingdom, reported a net profit of BD2.158 million (US$5.739 million) for the six months ending 30 June 2020 (H1 2020), representing a 15% decrease year-on-year (Y-o-Y) from BD2.533 million (US$6.737 million) in the same period of 2019. Revenues for H1 2020 increased 3% Y-o-Y to reach BD 31 million (US$82 million).



For the H1 2020 period, operating profit reached BD2.658 million (US$7.069 million), a decrease of 14% Y-o-Y from BD3.105 million (US$8.258 million) in H1 2019 , with the decrease being attributed to Zain Bahrain's increased operational costs during the COVID-19 outbreak, and support of various community initiatives to support the national fight against the virus. Zain Bahrain has also invested heavily in digitalization across all business segments.



Earnings per share reduced 15% Y-o-Y in H1 2020 to 6 fils from 7 fils in H1 2019. H1 earnings per share remained stable at 0.002 fils.



At the balance sheet level, the company's assets for the six-month period ending 30 June 2020 amounted to BD117.028 million (US$311.245 million), up 5% Y-o-Y from BD111.539 million (US$296.646 million) in H1 2019. Zain Bahrain's total equity at the end of H1 2020 stood at BD72.235 million