Vivacom’s net profit increases to BGN31.9m in 1H17

9 Aug 2017

Bulgarian telecoms company Vivacom (registered as Bulgarian Telecommunications Company, BTC) has released its financial results for the six months ended 30 June 2017, reporting a marginal 0.6% year-on-year increase in revenues, to BGN432.1 million (USD259 million). The operator noted that mobile services contributed BGN247.5 million to the total in the period under review, up 0.6% y-o-y, while revenues generated by fixed services increased by 5.3% to BGN173.5 million from BGN164.8 million in 1H16, supported by a ‘growth in fixed pay-TV services.’ The company reported a net profit of BGN31.9 million for 1H17, up by BGN31.1 million y-o-y, while adjusted EBITDA increased to BGN161.2 million (compared to BGN157.2 million in the previous period).

In operational terms, Vivacom’s mobile subscriber base reached 3.135 million users at end-June 2017, a 2.4% improvement on the figure reported in 1H16, with 88% of the users signed up to post-paid contracts. The company said that the annual growth in its customer base was mainly due to its ‘superior networks’, which boasted population coverage of 99.99% (2G), 99.98% (3G) and 94% (LTE) at mid-2017. Further, Vivacom reported a 9.9% increase in the number of broadband subscriber accounts, to 452,000, while the number of fibre-optic users increased to 239,560. Vivacom currently passes 1.098 million households with fibre, providing users with download speeds of up to 100Mbps. Fixed telephony subscriptions, meanwhile, stood at 866,000, down from 987,000 at mid-2016 (down 12.3% y-o-y).

Bulgaria, Vivacom (BTC)