Vivacom’s revenues decrease marginally in 2014

30 Mar 2015

Bulgarian telecoms company Vivacom (registered as Bulgarian Telecommunications Company, BTC) has released its financial results for the twelve months ended 31 December 2014, reporting a marginal 0.7% year-on-year decrease in revenues, to BGN805.9 million (USD446.0 million). The operator noted that mobile services contributed BGN444.0 million to the total in the period under review, up 28.1% y-o-y, while revenues generated by fixed serviced slumped by 34.1% to BGN361.9 million from BGN396 million in 2013. Profit for the period reached BGN26.3 million, a 2.9% decrease on the BGN29.2 million reported in 2013, while adjusted EBITDA increased to BGN334.9 million (BGN324.5 million in the previous year).

In operational terms, Vivacom’s mobile subscriber base reached 2.853 million users at end-December 2014, an 11.6% improvement on the figure reported in 2013, with 85% 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 99.85% of the country at end-December 2014. Further, Vivacom reported a 8.8% increase in the number of broadband subscriber accounts, to 356,000, while the number of fibre-optic users increased to 124,600. Vivacom currently covers 883,000 households with fibre, providing users with download speeds of up to 100Mbps. Fixed telephony subscriptions, meanwhile, stood at 1.195 million, down from 1.325 million at end-December 2013.

Bulgaria, Vivacom (BTC)