Belgium’s second largest cellco by subscribers, Mobistar, has released financial results for its 2008 fiscal year, revealing earnings in line with forecasts. Total revenue for the operator for the twelve months ended 31 December 2008 rose 1.7% year-on-year to EUR1.57 billion (USD2.03 billion), although service revenue fell 0.1% to EUR1.44 billion. The drop in service revenue was attributed to continued pressure on prices and mobile termination rates (MTR), alongside the lowering of roaming fees for both voice and data. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 0.1% y-o-y to EUR591.6 million, while net profit for the twelve-month period also dropped to EUR280.1 million, down from EUR289.9 million a year earlier, a 3.4% decline. Mobistar has indicated that it expects to see net profit fall further in 2009 as a result of increased regulatory pressure and the declining economic climate.
Mobistar reported that its combined subscriber base at the end of the year had risen to 3.74 million, up almost 250,000 against the same time a year earlier. Average revenue per user (ARPU) however, had reportedly fallen by 5.9% over the year to EUR32.5 per month at 31 December 2008.