Orange Armenia aims to be in the black by end-2012

7 Jun 2012

France Telecom-Orange’s Armenian mobile business Orange Armenia expects to book its first profit since launching services there in 2009, by the end of this year. The unit’s chief executive officer Bruno Duthoit told reporters that Orange Armenia’s turnover in the first half of this year already exceeds the 2011 figure by 50%. ‘Naturally, we do not expect to recover all investments by the end of the year, but are likely to recover the operating costs,’ Duthoit said. The announcement follows a recent statement from Benoit Chin, FT-Orange vice president for Europe, in which he said the group did not expect the Armenian business to turn a profit this year – noting that it would take five-to-seven years’ work before it entered the black. However, preliminary data suggests Orange Armenia will generate non-operating income of AMD116.50 million (USD282,000) in 2Q12, compared to AMD3.52 million in the corresponding period of 2011, on revenues on of AMD3.41 billion.

Armenia, Ucom (formerly Orange Armenia)