Batelco Group announced consolidated earnings results for the full year ended December 31, 2012. For the year, the company reported gross revenues of BHD 304.7 million against BHD 327 million for the same period a year ago. EBITDA was BHD 101.8 million against BHD 126 million for the same period a year ago.

The decline was attributed to aggressive competitive conditions in Bahrain, restructuring costs for 2012 and 2013 and a number of one-off adjustments. Adjusted EBITDA normalized for one-offs was BHD 123.0 million at 40%. Net debt as at December 31, 2012 was BHD 18.4 million.

Consolidated net profit was BHD 60.3 million from BHD 80.0 million for 2011.