MANAMA — For the nine-month period, Batelco Group’s gross revenues are down marginally by 2% YoY to BD273 million ($724.1 million) mainly due to competitive pressures in key markets. Gross revenues declined by 4% in Q3 2016 compared to the same quarter in 2015 and 2% since Q2 2016.
EBITDA for the period was BD105.2 million ($279 million), a 2% decline year over year.
EBITDA decreased by 8% in the third quarter of 2016 compared to Q3 2015 and 6% since Q2 2016. Throughout the period, the Group was able to continue its successful cost containment programs resulting in a 3% YTD reduction in expenditure compared to the same period last year. The Group continues to sustain its robust EBITDA margin of 39%.
Results from operating activities for the period were BD52.8 million ($140.1 million), reflecting a 7% decrease year-over-year. — SG
