Batelco Operational Review & Highlights 2012
“Our total subscriber base grew to more than 7.8 million across six markets (excluding results from Indian operations) representing 18% growth year on year with especially strong results from Jordan and Yemen.”
Manama, Bahrain: Batelco Group (Ticker: BATELCO), the leading telecom in the Middle East of reference with operations across six countries, announced its results for the twelve-months ended 31 December 2012 (“the year”).
“Despite ongoing challenges in the MENA markets and difficult market conditions worldwide, we successfully identified and announced a major acquisition which will see the size, scale and reach of the Group expand significantly.”
Commenting on the Group’s operational performance across the network, Group CEO, Shaikh Mohamed Bin Isa Al Khalifa, said: “We are extremely pleased with the strides we have made during 2012 and the foundations we have set for further building our operations, subscriber base and presence in both existing and new growth markets. We ended the year on a strong note throughout our operations. Our total subscriber base grew to more than 7.8 million across six markets (excluding results from Indian operations) representing 18% growth year on year with especially strong results from Jordan and Yemen during the year and fourth quarter in particular. We are working hard to support organic growth whilst continuing to identify opportunities to acquire new cash generative businesses with a strong and growing base of customers.”
“Despite ongoing challenges in the MENA markets and difficult market conditions worldwide, we successfully identified and announced a major acquisition which will see the size, scale and reach of the Group expand significantly. Through the synergies we hope to achieve by the pooling of resources, technologies and expertise, we will also further enhance our competitiveness and the strong presence we have already built and progressed in 2012 across our existing markets of operation. This includes reinforcing our market position in Bahrain, where we remain the leaders across a significant spectrum of communications services, as well as the strengthening of our operations in overseas markets, where we are continuing to grow and build market share.“
Batelco Group Chairman Shaikh Hamad Bin Abdulla Al Khalifa added: “The actions we’ve taken over the past year, both in streamlining our operations and planning for further growth will also ensure this continues well into the future. Towards this end, we were delighted to have announced in December 2012 our intention to make a transformative acquisition. With the addition of CWC’s Monaco and Islands Businesses, Batelco Group is poised to emerge as a regional company of international reference with an innovative portfolio of services and a more diversified revenue stream. We are confident that combined with our continued organic growth, this acquisition, which will be accretive from the outset, will help to even further bolster profitability and our ability to deliver value for shareholders.“
“Batelco growth strategy and the further development of the Group are a reflection of the strong leadership by our executive teams, supported by tremendous efforts by our employees across all markets to retain our customers’ loyalties and improve the way we develop and deliver services. The continuous focus by all our people on improving the way we serve our customers coupled with financial discipline, will enable us to pursue growth and meet our long term objectives,” concluded Shaikh Hamad.
This press release has been issued by Batelco Corporate Affairs department.
For further information, please contact Batelco Public Relations Office
Public.Relations@btc.com.bh / Fax +973 17611898