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The number of users of Bulgaria’s second largest mobile phones operator Globul has reached approximately 4 million, the company announced Thursday.
“Despite the challenging environment in Bulgaria during the second quarter of 2010, with growing macroeconomic pressures, lower consumer expenditure, fierce competition and increasing market saturation, Globul has managed to post positive performance in a series of indicators,“ the company said in a statement announcing its financial results for 2010 Q2.
Globul’s revenue in the second quarter of 2010 declined by 9% year-on-year down to BGN 207 M. In the first quarter, the company also registered a slight revenue decrease of 4.2% year-on-year down to BGN 203.4 M.
Its revenues in the first half of 2010 dropped by 6.7% down to BGN 410 M (compared with BGN 439.7 M in 2010 H1).
The company’s postpaid customer base increased by nearly 7% from Q2 2009, reaching a total of 2.2 million, or 55% of its total customer base.
“Globul has continued migrating prepaid customers to postpaid through innovative offers, and this, together with the prepaid registration process, has led to a decrease of nearly 10% in the prepaid customer base versus Q2 2009. As a result, GLOBUL’s total customer base at the end of June 2010 reached approximately 4 million. It is noted that for the first time since the end of 2008, GLOBUL closed the quarter with positive net additions,” said the company.
Service revenues declined by almost 2.6% in Q2 2010, mainly due to macroeconomic factors, intense competition in the business postpaid segment and lower interconnection rates.
Globul & Germanos managed to reduce the cost base by 8.6% compared to Q2 2009 through consistent cost rationalization initiatives focusing primarily on sales, distribution, network and administrative expenses.
Average usage per customer continued to grow with blended AMOU for Q2 2010 standing at 134 min, or 15% higher than Q2 2009, while blended ARPU for Q2 2010 has reached 8.9 EUR, or almost 2% above Q2 2009.
GLOBUL is the trademark under which Cosmo Bulgaria Mobile EAD offers mobile telecommunications services in Bulgaria. The company is 100% owned by the Greek company COSMOTE.
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