Vivacom reports 5% decrease in revenues to USD570m in 2013

5 Mar 2014

Bulgarian telecoms company Vivacom (formerly Bulgarian Telecommunications Company, BTC) has released its financial results for the twelve months ended 31 December 2013, reporting a 5% year-on-year decrease in revenues, to BGN811.9 million (USD569.87 million). Of this figure, BGN415.9 million was generated by Vivacom’s mobile unit, while fixed services contributed BGN396 million to the total. The company noted that, for the first time in its history, revenues from mobile operations exceeded revenues generated by fixed services, mainly due to steady growth in the number of mobile subscribers during the period under review.

In operational terms, Vivacom’s subscriber base reached 2.6 million users at end-December 2013, a 10% improvement on the figure reported in 2012, although the company revealed that due to changes in the methodology of reporting pre-paid services, the total excludes pre-paid users with no generated traffic in a 90-day period. The company said that the annual growth in its customer base was mainly due to investment in its 3G network, which covered 99.8% of the country at end-December 2013. Further, Vivacom reported a 2% increase in the number of broadband subscriber accounts, to 327,000, while the number of fibre-optic users increased by 22%. Vivacom currently covers 680,000 households with fibre, providing users with download speeds of up to 100Mbps.

Bulgaria, Vivacom (BTC)