Farlep-Invest (Vega) posts net profit for Q4, but annual loss

21 Feb 2013

Farlep-Invest, the management company of Ukrainian fixed telecoms group Vega, part of the SCM conglomerate, has posted a net loss of UAH17.6 million (USD2.1 million) for the full-year 2012, while net annual revenues stood at UAH611.1 million (compared to turnover of UAH276.6 million reported by the company in 2011). The company notes that during 2011 Vega integrated regional and national telecoms units including Farlep-Invest, Dneprtel, Optima Special Communication, Optima Communications Assets (Dnepropetrovsk), Optima Communications Service (Sevastopol), Farlep-Telecom Holding (Donetsk), TD IRS, Intercom (Kiev), Lyuza (Kiev) and TC ELS (Odessa).

Farlep-Invest also reported that it achieved a net profit of UAH40.3 million in Q4 2012, on net revenues of UAH174.6 million (compared to reported sales of UAH81.1 million in 4Q11). On a quarter-on-quarter basis, this was a turnaround from a net loss of UAH16.2 million recorded in 3Q12, although the Q4 net revenue result fell from UAH180.2 million in Q3.

Ukraine, Vega