Bulgarian telcos announce 9m results

21 Nov 2006

The Bulgarian Telecommunication Company (BTC) has reported a consolidated nine-month net profit of BGN133.6 million (USD87.99 million), down 24.6% compared to the same period of 2005. Revenue for the period was BGN780.7 million, compared to the BGN762 million recorded a year earlier. At the end of September Vivatel, the group’s wireless subsidiary that launched on 5 November last year, had signed up more than 500,000 customers. On announcing the results BTC revealed that it expects to invest at least BGN400 million in 2007 on various projects including the expansion of Vivatel’s network, improved ADSL broadband internet access, the further digitalisation of its fixed line network, and the launch of new products and services.

Meanwhile Sofia-based cellco MobilTel announced it increased its revenue by 10% year-on-year to EUR432 million (USD554 million) in the January to September period. According to shareholder Telekom Austria, MobilTel’s earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 3.2% to EUR259 million. The country’s other cellco, Globul, reported revenue of BGN487 million for the nine month period, 26% higher than the same period of 2005. Profit rose 21.6% to BGN51.76 million.

Bulgaria, Vivacom (BTC)