Page 53 - SAMENA Trends - January-February 2025

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Zain Bahrain Revenue For 2024 Hits US$203 Million

Zain Bahrain, a leading telecommunications provider in the representing 9% of the company’s paid-up capital, equivalent
kingdom, has announced a revenue of BD77.24 million ($203 to 9 fils per share. This totals to a dividend amount of BD3.275
million) for FY2024, up 6.8% from the previous year's figure of million, reflecting a 55% payout ratio, subject to the Annual General
BD72.32 million ($190 million). Announcing its financial results Meeting approval. Zain Bahrain Chairman Shaikh Ahmed bin Ali
for the 12-month period ended December 31, 2024, Zain Bahrain Al Khalifa said: "This year has been one of growth, resilience, and
said it reported a 2% increase in total profit for the year attributable transformation - achievements that we are incredibly proud of and
to the shareholders amounting to BD5.92 million compared to that lay the foundations for a brighter future. I am proud to share
BD5.81 million in the previous year. Basic and diluted earnings the outstanding progress we have made in delivering exceptional
per share stood at 16 fils for the year, while the ebitda increased value to our customers, shareholders, and the Kingdom of
to BD23.58 million for the year ended December 31, 2024, from Bahrain." Innovation and digital transformation, he stated, were
BD22.45 million in the previous year. Zain Bahrain's total equity key drivers of Zain's healthy revenue growth, which was attributed
as of December 31, 2024 accumulated to BD88.12 million, up by to the development of new services and products. "We remained
2.8% from BD85.66 million at the end of 2023. The company's focused on investing in our networks and building our digital
asset base stood at BD 141.91 million, a 3.1% increase from BD capabilities, which are important to our customers and future
137.63 million in 2023, it added. On the Q4 performance, Zain success," observed Shaikh Ahmed. "We are thrilled to share that
Bahrain said its total profit attributable to the shareholders stood Zain Bahrain has been recognized with the prestigious Employer
at BD1.88 million representing a 29.6% increase compared to of the Year Award in the Private Sector at the 12th Annual GCC
BD1.45 million for the same period in the previous year with Basic GOV HR & Youth Summit and Awards. This accolade is a testament
and Diluted earnings per share of 5 fils. Revenue for the fourth to our unwavering commitment to nurturing a positive workplace
quarter, meanwhile, increased to BD19.80 million, representing a culture and supporting employee growth," he noted. "Moreover,
growth of 7.3% compared to BD18.45 million for the same period we are delighted to announce that Zain Bahrain has maintained a
the previous year. Ebitda reached BD5.44 million, down by 5.6% remarkable Bahrainization rate of 93.33% and was recognized by
from BD5.76 million in Q4 2023. Impressed with the results, Zain the Ministry of Labor as one of the top 10 companies achieving the
Bahrain's Board of Directors have recommended annual dividends highest Bahraini employment rate in 2024," he added.

Zain KSA Reports Highest Ever Revenue of SAR 10.4 Billion (US$2.8 Billion)

Zain Group’s operation in Saudi Arabia (Zain KSA) released its highlight Zain KSA’s operational strategy, focusing on providing
financial results for 2024, reporting an all-time high revenue of the best user experience for individuals and businesses over a
SAR 10.4 billion (USD 2.8bn), compared to SAR 9.9 billion (USD powerful 5G network – one of the most advanced in the region
2.6bn) in 2023, reflecting a 5% growth. The company reported net – positioning Zain KSA as the digital provider of choice in Saudi
profit of SAR 596 million (USD 159m) for 2024 compared to SAR Arabia. Consumer and enterprise revenue segments continued
1,267 million in 2023, which included one-off gain of SAR 1.1 billion to grow during the year, with sustained demand for ‘Yaqoot’ all-
from sale of 8069 towers recognized during 2023. Adjusting this digital service and attaining a high ROI in adjacent businesses,
one-off gain, normalized net-profit grew 354%. EBITDA reached specifically fintech through ‘Tamam Finance.’ Commenting on the
SAR 3.3 billion (USD 886m), a 12% growth YoY. With the sustained results, Zain Vice-Chairman and Group CEO & Zain Saudi Arabia
upward financial and operational performance, Zain KSA’s Board Vice-Chairman, Bader Al Kharafi, said, “This impressive growth
of Directors recommended to distribute cash dividends of SAR in Zain KSA’s constantly improving financial results for 2024 are
0.5 per share (5%) to shareholders for 2024. The financial results attributed to the team’s focus on operational efficiency, digital
innovation, new business verticals and expansion of 5G services.
This is supported by the provision of a great customer mobile and
data experience that is instrumental in growing its enterprise and
individual customer base. Furthermore, the close cooperation and
support of the resources of Zain Group is a vital element in Zain
KSA’s forward trajectory.” Al Kharafi concluded, “The operation
is playing its key role as a major contributor to Saudi Arabia’s
ICT sector; a position it has earned through vast investments in
5G network expansion and multiple initiatives aimed at further
developing Saudi nationals. Zain KSA’s productive relationship
with The Communications, Space & Technology Commission,
emphasize the company’s dedication to supporting the targets of
the Kingdom’s Vision 2030.”

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