Beyon reports Q1 profit, revenue increases 6%
The YoY decline in net profit attributable to equity holders is mainly due to additional taxes from the application of Domestic Minimum Top-Taxes ('DMTT'), effective 1 January 2025, and acquisition charges associated with the acquisitions completed in 2024. Earnings per share (EPS) are 10.9 fils for the first quarter of 2025, compared to 11.4 fils in Q1 2024. Total comprehensive income attributable to equity holders in Q1 2025 was reported at BD11.8M (US$31.3M), a 70% decrease from BD39.7M (US$105.3M) in the first quarter of 2024, mainly due to investment fair value changes.
Operating profit in Q1 2025 of BD26.0M (US$69.0M) is 4% lower than BD27.0M (US$71.6M) reported in Q1 2024. EBITDA stands at BD45.4M (US$120.4M) in Q1 2025 compared to BD44.1M (US$117.0M) in Q1 2024, an increase of 3%. The company maintained a healthy EBITDA margin of 39% in Q1 2025.
Revenues for the first quarter of 2025 increased by 6% to BD117.6M (US$311.9M) compared to BD110.5M (US$293.1M) in Q1 2024, mainly due to increases in digital, wholesale, mobile and fixed broadband services.
Beyon's balance sheet remains strong with total equity attributable to equity holders of the company of BD540.9M (US$1,434.7M) as of 31 March 2025, 4% lower than BD564.2M (US$1,496.6M) reported as of 31 December 2024. Total assets of BD1,255.4M (US$3,330.0M) as of 31 March 2025 are in line with total assets of BD1,256.0M (US$3,331.6M) as of 31 December 2024. Net assets as of 31 March 2025 which stand at BD595.0M (US$1,578.2M) are 4% lower than BD621.8M (US$1,649.3M) reported as of 31 December 2024. The Company reported cash and bank balances of BD138.4M (US$367.1M) as of 31 March 2025.
Beyon Chairman Shaikh Abdulla bin Khalifa Al Khalifa said: 'The first quarter of 2025 was marked by continued topline growth and momentum across Beyon's digital companies as well as our telecom and connectivity businesses. The performance reflected strong performance in digital services, wholesale, mobile, and fixed broadband. We also recorded a 3% increase in EBITDA and sustained a robust EBITDA margin, demonstrating our operational efficiency and disciplined cost management. With a solid business strategy for the year and promising growth opportunities, we look forward to continuous achievements and success across Beyon's companies.'
'Due to the impact posed by non-operational factors such as the implementation of Domestic Minimum Top-Taxes (DMTT) and acquisition-related charges following our 2024 expansion strategy, net profit saw a minor year-on-year decline. Both of these were anticipated external factors, and Beyon continues to be well-positioned to capture emerging opportunities built on its operational strengths.'
From his end, Beyon CEO Andrew Kvaalseth said, 'The results of the first quarter of 2025 reflect the solid fundamentals of our business and the ongoing execution of our growth strategy. Across our businesses our focus continues to be on delivering innovative solutions and expanding our footprint. On the connectivity front, Batelco deployed the Kingdom's first private 5G network for industrial use, a transformative move for Bahrain's manufacturing sector, and also saw a brand uplift alongside the announcement of 'One Plan' a first of its kind product plan designed to integrate customers' mobile and home connectivity needs all in one single plan.'
'Within our digital companies, Beyon Connect's contribution to eKey 2.0 continues to gain traction across banking, finance, insurance and telecommunications sectors in alignment with our commitment to digital transformation. Beyon Cyber was recognized with three major accolades at the 2025 Cyber Security Excellence Awards, marking their rapid growth, regional market penetration, and innovative in-house developments. Beyon Solutions signed a strategic agreement to deliver cloud services with Oracle Cloud Infrastructure (OCI) Dedicated Region, supported by its comprehensive suite of managed services to support businesses and government entities in the Kingdom of Bahrain.'
'Looking ahead, we remain confident in our trajectory for 2025. With a strong foundation and forward-looking strategy, Beyon is strategically positioned to capitalise on emerging opportunities and continue delivering value for all stakeholders.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
3 hours ago
- Daily Tribune
US-China Trade Talks Resume in Sweden Amid Tariff Deadline Pressure
Senior officials from the United States and China are meeting in Stockholm this week to restart trade negotiations, with hopes of extending reduced tariffs and avoiding a new wave of economic strain as a key deadline approaches. The talks, taking place over two days in the Swedish capital, bring together US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. Both sides are under pressure to find common ground before the current truce on tariffs expires on August 12. This round of dialogue comes at a critical time for President Donald Trump's trade policy, with countries like Brazil and India also racing to secure trade deals with Washington before August 1. If no agreements are reached, these countries risk seeing US tariffs on their exports jump from the current 10% to as high as 50%. The US has already implemented some of the steepest import duties since the 1930s, according to data from The Budget Lab at Yale University. Now, trading partners are scrambling to avoid further economic fallout. In a statement on Monday, China's Foreign Ministry expressed hope that the meetings would be conducted in a spirit of 'mutual respect and reciprocity.' Spokesman Guo Jiakun emphasized the importance of reducing misunderstandings and strengthening cooperation to ensure stable and healthy US-China relations. Back in April, both Washington and Beijing had imposed tariffs on each other's goods at triple-digit levels. A temporary truce in May, agreed upon during talks in Geneva, brought US tariffs down to 30% and China's to 10%. But with that agreement nearing its expiration, the pressure is back on. Since the Geneva truce, both sides have held follow-up talks in London to resolve lingering issues. The meetings in Sweden are now seen as a pivotal opportunity to prevent a return to more aggressive trade measures. The world's two largest economies will be closely watched this week—not just by markets, but by nations whose economic futures may be shaped by the outcome.
Daily Tribune
5 days ago
- Daily Tribune
Coca-Cola plans US cane sugar alternative after Trump push
Coca-Cola on Tuesday said it would release a version of Coke in the United States made with US-grown real cane sugar, a move requested by President Donald Trump. 'We're going to be bringing a Coke sweetened with US cane sugar into the market this fall, and I think that will be an enduring option for consumers,' said CEO James Quincey on a call with analysts. The company currently uses high-fructose corn syrup (HFCS) for many of its US products -- a sweetener that has long drawn criticism from Health Secretary Robert F. Kennedy Jr. and his 'Make America Healthy Again' agenda. Trump last week said that the company had agreed to use cane sugar in the United States version of Coke. 'This will be a very good move by them -- You'll see. It's just better!' Trump wrote on Truth Social. Coca-Cola at the time did not confirm the move even if it said it appreciated Trump's 'enthusiasm' for its brand. In announcing the new option, Quincey insisted that the main Coke product would still be made with corn syrup, with the cane sugar version offered as an alternative. Mexican Coke -- which is made with cane sugar -- is often sold at a premium in US stores and prized for its more 'natural' flavor. The US president did not explain what motivated his push for the change.
Daily Tribune
5 days ago
- Daily Tribune
Japan Clarifies: No Defense Spending in New US Trade Deal
TDT | Manama Japan's top trade negotiator has clarified that the new trade agreement between Japan and the United States does not include any provisions related to defense spending or tariffs on steel and aluminum. Speaking to reporters in Washington on Wednesday, Ryosei Akazawa, Japan's envoy on tariffs, confirmed, 'The deal does not include anything on defense spending,' putting to rest speculation that military budgets might be part of the broader agreement. This follows earlier calls by U.S. President Donald Trump urging Japan to boost its defense spending. Akazawa also confirmed that US-imposed tariffs of 50 percent on Japanese steel and aluminum remain unchanged and were not addressed in the newly agreed trade deal. 'If you are asking whether the deal includes steel and aluminium, it does not,' he stated. Despite the exclusions, the announcement of the trade pact brought a boost to investor confidence. Japan's stock market surged in response, with the Nikkei 225 index jumping 3.18% to close at 41,040.66 yen. The broader Topix index also rose by 3.11%, finishing at 2,924.42 yen — gains led primarily by automotive stocks as the deal includes tariff reductions on vehicles and car parts. The agreement marks a step forward in trade relations between the two nations, focusing on economic cooperation without touching on more contentious defense or industrial issues.
