Manama, Bahrain: Beyon BSC (Ticker: BEYON), today announced its financial results for the third quarter and the nine months period ended 30 September 2025. Beyon reported net profit attributable to equity holders of BD16.7M (US$44.3M) for Q3 2025, a 5% decrease from BD17.6M (US$46.7M) reported for the corresponding quarter of 2024. 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, acquisition charges associated with the acquisitions completed in 2024 and lower interest income. Earnings per share (EPS) are 10.1 fils for the third quarter of 2025, compared to 10.6 fils in Q3 2024.
Total comprehensive income attributable to equity holders in Q3 2025 was reported at BD20.3M (US$53.8M), a 16% decrease from BD24.1M (US$63.9M) in the third quarter of 2024, mainly due to foreign currency translation differences.
Operating profit in Q3 2025 of BD25.5M (US$67.6M) is 2% lower than BD25.9M (US$68.7M) reported in Q3 2024. EBITDA stands at BD45.8M (US$121.5M) in Q3 2025 and is 3% higher than BD44.6M (US$118.3M) reported in Q3 2024. The company maintained a healthy EBITDA margin of 37% in Q3 2025. Revenues for the third quarter of 2025 increased by 12% to BD123.4M (US$327.3M) compared to BD110.1M (US$292.0M) in Q3 2024.
For the first nine months of 2025, net profit attributable to equity holders of the company of BD52.0M (US$137.9M) decreased by 7% compared to BD56.2M (US$149.1M) in 2024, mainly due to DMTT, acquisition related charges and lower interest income. Earnings per share (EPS) are 31.4 fils for the period compared to an EPS of 34.0 fils for the corresponding period in 2024.
Total comprehensive income attributable to equity holders of the company decreased by 28% from BD81.3M (US$215.6M) in 2024 to BD58.8M (US$156.0M) in 2025 mainly due to investment fair value changes.
Operating profits decreased by 2% from BD81.5M (US$216.2M) in 2024 to BD79.9M (US$211.9M) in 2025. However, EBITDA increased by 3% from BD133.9M (US$355.2M) in 2024 to BD138.1M (US$366.3M) in 2025. The company maintained a healthy EBITDA margin of 38% during the period in 2025.
Revenues for the first nine months of the year of BD366.3M (US$971.6M) increased by 10% from BD333.1M (US$883.6M) of revenues in 2024, mainly due to increases in mobile, fixed broadband, wholesale and digital services. Beyon grew its overall customer base by 6% YoY with a 7% increase in mobile subscribers.
Beyon’s balance sheet remains strong with total equity attributable to equity holders of the company of BD565.5M (US$1,500.0M) as of 30 September 2025, in line with BD564.2M (US$1,496.6M) reported as of 31 December 2024. Total assets of BD1,266.0M (US$3,358.1M) as of 30 September 2025 are 1% higher than total assets of BD1,256.0M (US$3,331.6M) as of 31 December 2024. Net assets as of 30 September 2025 which stand at BD624.5M (US$1,656.5M) are in line with BD621.8M (US$1,649.3M) reported as of 31 December 2024. The Company reported cash and bank balances of BD124.2M (US$329.4M) as of 30 September 2025.
Financial and Operational Highlights
| Nine Month Period Ended 2025 | Nine Month Period Ended 2024 | Variance | Q3 2025 | Q3 2024 | Variance | |||||||
| BDM | US$M | BDM | US$M | % | BDM | US$M | BDM | US$M | % | |||
| Gross Revenues | 366.3 | 971.6 | 333.1 | 883.6 | +10 | 123.4 | 327.3 | 110.1 | 292.0 | +12 | ||
| EBITDA | 138.1 | 366.3 | 133.9 | 355.2 | +3 | 45.8 | 121.5 | 44.6 | 118.3 | +3 | ||
| Operating Profit | 79.9 | 211.9 | 81.5 | 216.2 | -2 | 25.5 | 67.6 | 25.9 | 68.7 | -2 | ||
| Net Profit attributable to equity holders of the company | 52.0 | 137.9 | 56.2 | 149.1 | -7 | 16.7 | 44.3 | 17.6 | 46.7 | -5 | ||
| Total Comprehensive income attributable to equity holders of the company | 58.8 | 156.0 | 81.3 | 215.6 | -28 | 20.3 | 53.8 | 24.1 | 63.9 | -16 | ||
| Customer Base (telecom operations)* | 4.7M | 4.4M | +6 | |||||||||
| Contribution to Revenues by International Operations | 56% | 53% | +3 | |||||||||
| Contribution to EBITDA by International Operations | 60% | 57% | +3 | |||||||||
*Excludes subscriber numbers from Sabafon, Beyon’s associate company in Yemen, and Etihad Atheeb Telecom, Beyon’s investment in Saudi Arabia.
Beyon Chairman Shaikh Abdulla bin Khalifa Al Khalifa commented on the financial results for the third quarter of 2025 and the first nine months of 2025 following a meeting of the Board of Directors on Thursday 30th October, at Beyon’s Campus, Hamala, Kingdom of Bahrain.
“The Board acknowledges the Group’s solid operational performance, delivering double-digit revenue growth and a healthy increase in EBITDA. While net profit was impacted by the application of Domestic Minimum Top-Up Taxes (DMTT), acquisition-related charges, and lower interest income, the Group’s underlying fundamentals remain strong. The continued growth in revenues and EBITDA reflects the resilience of our core business and the effectiveness of our strategy in creating sustainable value despite evolving market conditions.”
“Marking a bold new chapter in our evolution as a global technology group, Beyon achieved strategic milestones with the launch of Umniah by Beyon in Jordan and Sure by Beyon in the Channel Islands and Isle of Man. These rebrands mark a defining step in our journey to unifying our telecommunications portfolio under one identity and strengthening our global footprint. Beyon continues to shape its next phase of growth, further enhancing synergies across our markets.”
“Beyon’s strong presence at GITEX Global 2025 further underscored the Group’s growing presence and its role in contributing to the future of digital innovation. Through our collective showcase, we highlighted the breath of our capabilities in connectivity, digital infrastructure, cybersecurity, and enterprise transformation; areas that will continue to drive growth and differentiation for the group.”
“As we look ahead, Beyon remains firmly committed to advancing digital transformation in Bahrain and across our international markets, through strategic investments in next-generation infrastructure, cloud, and cybersecurity solutions. Guided by our purpose, we will continue to deliver value to our shareholders and to the communities we serve, as one Group with one vision.” Shaikh Abdulla concluded.
Beyon Chief Executive Officer, Andrew Kvaalseth, stated: “Beyon delivered solid operational performance during the period, reflecting the strength of our diversified portfolio and disciplined execution across the Group. This performance highlights our ability to navigate a changing fiscal environment while maintaining focus on innovation, efficiency, and long-term value creation.”
“Operationally, the third quarter was marked by major strategic progress. The launch of Umniah by Beyon and Sure by Beyon were defining moments for the Group, advancing brand alignment, operational synergy, investment discipline, and building the foundation for sustainable growth.
At home, Batelco by Beyon continues to deliver innovation that matters, including the introduction of Eco-SIM cards as part of our sustainability journey, and new partnerships to empower SMEs in Bahrain’s evolving economy. Our digital companies also continued to expand their impact, with Beyon Cyber partnering with Umniah to enhance cybersecurity resilience, Beyon Connect launching the Bulk KYC service in collaboration with the Information & eGovernment Authority, and Beyon Solutions advancing enterprise innovation across industries.”
“As we enter the final quarter of 2025, our focus remains on sustaining revenue growth, optimizing returns across our portfolio, and executing our strategy with financial discipline for sustained value creation.”