Vivacom’s annual profit reaches BGN72m in 2017

12 Mar 2018

Bulgarian telecoms company Vivacom (registered as Bulgarian Telecommunications Company, BTC) has released its financial results for the twelve months ended 31 December 2017, reporting a 1.6% year-on-year increase in revenues, to BGN889 million (USD558.4 million). The operator noted that mobile services contributed BGN521.3 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 BGN349.1 million, up from BGN336.4 million in 2016, supported by a ‘growth in fixed pay-TV services’. The company reported a net profit of BGN72.6 million for 2017, up from a net loss of BGN145 million in 2016, while EBITDA increased to BGN324.3 million (compared to BGN281.9 million in the corresponding period a year earlier).

In operational terms, Vivacom’s mobile subscriber base totalled 3.085 million users at end-2017, down 1.5% y-o-y, 89% of which were signed up to post-paid contracts. Further, Vivacom reported a 9.8% increase in the number of broadband subscriber accounts, to 480,000, while the number of fibre-optic users increased to 259,200. Vivacom currently passes 1.13 million households with fibre, providing users with download speeds of up to 100Mbps. Fixed telephony subscriptions, meanwhile, stood at 806,000, down 13.0% y-o-y from 926,000 at end-2016.

Bulgaria, Vivacom (BTC)