Cosmoté profits up on higher calls

23 Feb 2005

Greek mobile operator Cosmoté reported a 19.6% hike in net profits in 2004 to EUR302.5 million (USD396 million), thanks to a rise in domestic call traffic and monthly services fees, and a strong performance from its Albanian operations. Group operating revenues for the full year rose by 17% year-on-year from EUR1.36 billion to EUR1.59 billion, driven by a 21.1% rise in ‘airtime and monthly service fees’ revenues, a 15.2% hike in interconnection revenues (including for the first time EUR15.8 million of SMS interconnection revenues), and a 61.3% increase in revenues from the sales of handsets and accessories. In Greece, traffic volumes for the twelve months to 31 December 2004 rose by 28% year-on-year, but roaming revenues reached just EUR42 million, 2% lower than in 2003 due to a sizeable drop in tourist arrivals. The Athens Olympics also failed to generate the level of roaming revenues the company had earlier predicted, despite the event boosting non-recurring revenue by around EUR26 million.

Cosmoté ended 2004 with 4,151,347 mobile subscribers, of which around 2.52 million are pre-paid, having added 40,378 net contract additions and 193,959 new net pre-paid users during the course of the year. In Albania, its AMC unit added 621,172 net additions to lift its customer total to 1.62 million. The Albanian operator’s revenues reached EUR121.2 million, up 13.5%, while EBITDA improved to 57.6% and the net income margin to 29.3%.

Albania, Greece, Cosmote (old), ONE Telecommunications (formerly Telekom Albania)