VIP reports narrowing losses in 2Q10

20 Aug 2010

Macedonia’s third mobile network operator Mobilkom Macedonia (VIP Mobile), a unit of mobilkom Austria, itself part of Telekom Austria, reported that net losses for the three months ending 30 June 2010 narrowed to EUR3.7 million (USD4.7 million) from EUR5.7 million in the same period a year ago, on revenue that climbed 63.5% year-on-year to EUR8.5 million. The cellco also cut its negative earnings before interest, tax, depreciation and amortisation (EBITDA) to EUR3.1 million in the first half of the year, down from EUR8.3 million in 1H09, it said. VIP Mobile’s negative EBITDA narrowed by 60% on the year to EUR1.6 million in the second quarter alone, it added. The operator said the positive results were driven by fast growth in its mobile subscriber base which reached 353,200 as at 30 June 2010, up from 323,000 in March, and 57% higher than the 224,400 figure recorded in June 2009.

North Macedonia, A1 Macedonia (formerly Vip)