Ukrtelecom accrues USD32m loss in 2010

17 Feb 2011

Ukrainian fixed, broadband and 3G mobile operator Ukrtelecom has recorded a net loss of around UAH259 million (USD32 million) for full-year 2010, after its fourth-quarter bottom line plunged to a loss of UAH196 million compared to losses in the previous three months of UAH111 million. However, the annual result was an improvement on 2009’s net loss of UAH470 million. Consolidated net revenues were flat at UAH1.675 million in 4Q10, whilst EBITDA dropped by 52.7% quarter-on-quarter as expenses rose. The telco is in the process of being sold by the Ukrainian government to Epic Services Ukraine (ESU), a subsidiary of Austrian investment fund Epic, in a USD1.3 billion deal which is expected to close in March.

Ukraine, Ukrtelecom (incl. TriMob)