Vivacom 9M14 revenues drop 4.9%; profit surges 56%

11 Nov 2014

Bulgarian telecoms company Vivacom (registered as Bulgarian Telecommunications Company, BTC) has released its financial results for the nine months ended 30 September 2014, reporting a 4.9% year-on-year decrease in revenues, to BGN600.7 million (USD381.5 million). The operator noted that mobile services contributed BGN326.4 million to the total in the period under review, up 21.7% y-o-y, while revenues generated by fixed serviced slumped by 26.6% to BGN274.3 million from BGN300.9 million in 9M13. Net profit for the period reached BGN16 million, a 56% improvement on the BGN10.3 million reported in 2013, while earnings before interest, tax, depreciation and amortisation (EBITDA) remained largely flat at BGN239.1 million (BGN239.8 million in 9M 2013).

In operational terms, Vivacom’s subscriber base reached 2.809 million users at end-September 2014, an 11.3% improvement on the figure reported in 3Q13, with 84% of the users signing up to post-paid contracts. The company said that the annual growth in its customer base was mainly due to investment in its 3G network, which covered 99.81% of the country at end-December 2013. Further, Vivacom reported a 7.1% increase in the number of broadband subscriber accounts, to 346,000, while the number of fibre-optic users increased to 110,720. Vivacom currently covers 831,000 households with fibre, providing users with download speeds of up to 100Mbps. Fixed telephony subscriptions, meanwhile, stood at 1.227 million, down from 1.358 million at end-September 2013.

Bulgaria, Vivacom (BTC)