Mobile services, consolidation of NURTS boost Vivacom 1H16 results

3 Aug 2016

Bulgarian telecoms company Vivacom (registered as Bulgarian Telecommunications Company, BTC) has released its financial results for the six months ended 30 June 2016, reporting a 6.1% year-on-year increase in revenues, to BGN429.6 million (USD246.2 million). The operator noted that mobile services contributed BGN246.0 million to the total in the period under review, up 6.6% y-o-y, while revenues generated by fixed serviced decreased by 5.4% to BGN164.8 million from BGN174.2 million in H1 2015; newly consolidated TV provider NURTS contributed BGN22.6 million to the total. Profit for the period reached BGN800,000, a 112.5% increase y-o-y on the BGN6.8 million loss reported in 1H15, while adjusted EBITDA fell to BGN157.2 million (BGN168.2 million in the previous year).

In operational terms, Vivacom’s mobile subscriber base reached 3.063 million users at end-June 2016, a 7.4% improvement on the figure reported in June 2015, with 86% of the users signing up to post-paid contracts. Further, Vivacom reported a 11.1% increase in the number of broadband subscriber accounts, to 411,000, while the number of fibre-optic users increased to 197,280. 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 987,000, down from 1.124 million at end-June 2015.

Bulgaria, Vivacom (BTC)