Vivacom reports net loss of BGN6.8m in 1H15

5 Aug 2015

Bulgarian telecoms company Vivacom (registered as Bulgarian Telecommunications Company, BTC) has released its financial results for the six months ended 30 June 2015, reporting a 3.1% year-on-year increase in revenues, to BGN404.8 million (USD224.7 million). The operator noted that mobile services contributed BGN230.6 million to the total in the period under review, up 11.1% y-o-y, while revenues generated by fixed services decreased by 5.8% to BGN174.2 million from BGN185.0 million in H1 2014. In the period under review, the company reported a net loss of BGN6.8 million, down from the net profit of BGN19.0 million reported in 1H14, while adjusted EBITDA fell to BGN168.2 million (BGN173.6 million in the previous year).

In operational terms, Vivacom’s mobile subscriber base reached 2.957 million users at 30 June 2015, a 10.4% improvement on the figure reported in June 2014, with 85% of the users signing up to post-paid contracts. Further, Vivacom reported a 10.5% increase in the number of broadband subscriber accounts, to 370,000, while the number of fibre-optic users increased to 148,000. Vivacom currently covers 964,000 households with fibre, providing users with download speeds of up to 100Mbps. Fixed telephony subscriptions, meanwhile, stood at 1.124 million, down from 1.256 million at end-June 2014.

Bulgaria, Vivacom (BTC)