Annual Report 2020 Contents: 02 Strategic Report 02 Introduction 04 Vision, Mission & Values 06 Annual Highlights 08 Board of Directors 12 Chairman’s Statement 18 Executive Management 22 CEO Message 28 BNET CEO Message 30 International Investments 32 Subsidiaries and Affiliates 38 Corporate Social Responsibility 42 Human Resources Report 46 Sustainability Excellence 60 Corporate Governance 80 Consolidated Financial Statements 81 Chairman’s Report 83 Independent Auditors’ Report to the Shareholders 87 Consolidated Statement of Financial Position 88 Consolidated Statement of Comprehensive Income 89 Consolidated Statement of Cash Flows 90 Consolidated Statement of Changes in Equity 91 Notes to the Consolidated Financial Statements 106 Supplementary Disclosures Related to the Impact of Covid-19 Contact: Office of the Registrar: Noora Sulaibeekh Bahrain Clear, Bahrain Financial Harbour Board Secretary Harbour Mall – 4th floor, P.O. BOX 3203, P.O.BOX. 14, Manama, Kingdom of Bahrain Manama, Kingdom of Bahrain Tel: +973 17884485 Fax: +973 17914988 Tel: +973 17108833 Fax: +973 17228061 Scan the QR code to view
[email protected] [email protected] 2020 Annual Report online www.batelco.com www.bahrainbourse.com His Majesty His Royal Highness King Hamad bin Isa Prince Salman bin Hamad Al Khalifa Al Khalifa The King of Crown Prince, Deputy Supreme the Kingdom of Bahrain Commander and Prime Minister of the Kingdom of Bahrain BATELCO ANNUAL REPORT 2020 INTRODUCTION INTRODUCTION Always connected www.batelco.com 02 STRATEGIC REPORT CORPORATE GOVERNANCE CONSOLIDATED FINANCIAL STATEMENTS BATELCO ANNUAL REPORT 2020 Serving our customers and the community is embedded in our corporate values, and throughout the past extraordinary year, we took steps to continue serving our customers in the best ways possible, while supporting national initiatives in the fight against the Coronavirus pandemic.