Vivacom reports revenues, customer growth in 2015

13 Apr 2016

Bulgarian telecoms company Vivacom (registered as Bulgarian Telecommunications Company, BTC) has released its financial results for the twelve months ended 31 December 2015, reporting a 5.2% year-on-year increase in revenues, to BGN847.9 million (USD492.5 million). The operator noted that mobile services contributed BGN483.0 million to the total in the period under review, up 8.8% y-o-y, while revenues generated by fixed serviced slumped by 5.7% to BGN341.1 million from BGN361.9 million in 2014. Profit for the period reached BGN16.5 million, a 37.2% decrease on the BGN26.3 million reported in 2014, while adjusted EBITDA dropped to BGN331.7 million (BGN334.9 million in the previous year).

In operational terms, Vivacom’s mobile subscriber base reached 3.024 million users at end-December 2015, a 6.0% improvement on the figure reported in 2014, with 87% of the users signing up to post-paid contracts. The company said that the annual growth in its customer base was mainly due to its ‘superior network’, which covered 99.92% of the country at 31 December 2015. Further, Vivacom reported a 9.5% increase in the number of broadband subscriber accounts, to 390,000, while the number of fibre-optic users increased to 171,600. Vivacom currently covers 1.034 million households with fibre, providing users with download speeds of up to 100Mbps. Fixed telephony subscriptions, meanwhile, stood at 1.051 million, down from 1.195 million at end-December 2014 (down 12% y-o-y).

Bulgaria, Vivacom (BTC)