life:) announces Q1 results

15 May 2009

Ukrainian wireless network operator life:) has published its results for the three months ended 31 March 2009, showing an annual 22.3% increase in subscribers to 11.5 million. Of the total, 8 million were deemed by the operator to be ‘active’, having made or received a call/SMS in the last three months. Revenues in the first quarter of 2009 were USD79.1 million, a 12.3% decrease compared to the same period of 2008. EBITDA was USD3.6 million, compared to USD2.1 million in the same period of 2008, while net losses were USD24.4 million, down from a loss of USD32.4 million in Q1 2008. General director of life:) Tansu Yegen said: ‘The first quarter of 2009 has been very challenging for the economy of Ukraine with the worsening macroeconomic situation seriously effecting the business. The national currency depreciated by around 52% against the US dollar as of 31 March 2009 compared to a year ago, although remained stable compared to the previous quarter.’

Ukraine, Lifecell (formerly Astelit)