Vivacom’s net profit surges to BGN60m in 9M17

15 Nov 2017

Bulgarian telecoms company Vivacom (registered as Bulgarian Telecommunications Company, BTC) has released its financial results for the nine months ended 30 September 2017, reporting a 1.8% year-on-year increase in revenues, to BGN662 million (USD393 million). The operator noted that mobile services contributed BGN385.1 million to the total in the period under review, up 2.5% y-o-y, while revenues generated by fixed services increased by 4.9% to BGN261.9 million, up from BGN249.8 million in 9M16, supported by a ‘growth in fixed pay-TV services’. The company reported a net profit of BGN59.7 million for 9M17, up by BGN53 million y-o-y, while EBITDA increased to BGN256.7 million (compared to BGN235.9 million in the corresponding period a year ago).

In operational terms, Vivacom’s mobile subscriber base reached 3.168 million users at end-September 2017, a 0.9% improvement on the figure reported in September 2016, 87% of whom were 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/3G) and 93.82% (LTE) at 3Q17; the company is aiming to expand its 4G infrastructure to 99% of the population by year-end. Further, Vivacom reported a 10.0% increase in the number of broadband subscriber accounts, to 464,000, while the number of fibre-optic users increased to 245,920. Vivacom currently passes 1.1 million households with fibre, providing users with download speeds of up to 100Mbps. Fixed telephony subscriptions, meanwhile, stood at 837,000, down 12.6% y-o-y from 957,000 at end-September 2016.

Bulgaria, Vivacom (BTC)