Vivacom’s revenue up 5.2% in 1Q16

11 May 2016

Bulgarian telecoms company Vivacom (registered as Bulgarian Telecommunications Company, BTC) has released its financial results for the three months ended 31 March 2016, reporting a 5.2% year-on-year increase in revenues, to BGN211.7 million (USD123.2 million). The operator noted that mobile services contributed BGN120.0 million to the total in the period under review, up 5.7% y-o-y, while revenues generated by fixed serviced decreased by 5.9% to BGN82.6 million from BGN87.8 million in Q1 2015. Profit for the period reached BGN2.7 million, an 80.3% decline y-o-y on the BGN13.6 million reported in 1Q15, while adjusted EBITDA fell to BGN80.6 million (BGN84.1 million in the previous year).

In operational terms, Vivacom’s mobile subscriber base reached 3.011 million users at end-March 2016, a 4.0% improvement on the figure reported in March 2015, with 87% of the users signing up to post-paid contracts. Further, Vivacom reported a 10.4% increase in the number of broadband subscriber accounts, to 400,000, while the number of fibre-optic users increased to 184,000. Vivacom currently covers more than one million households with fibre, providing users with download speeds of up to 100Mbps. Fixed telephony subscriptions, meanwhile, stood at 1.017 million, down from 1.162 million at end-March 2015.

Bulgaria, Vivacom (BTC)