Bulgaria’s M-Tel Down on Profit, Up on Subscribers Q2

Business | August 19, 2010, Thursday // 13:39
Bulgaria: Bulgaria’s M-Tel Down on Profit, Up on Subscribers Q2

Bulgaria’s largest mobile operator M-Tel has registered a 21% drop in profit and a 11% increase in number of clients for Q2 2010.

M-Tel’s revenue for Q2 2009 was EUR 42.8 M, while that for the same period this year is EUR 33.6 M.

The company increased its big market share to 50.2% Q2 2010 from 50% for the same period last year.

Among the biggest wins reported by the company is a 74.5% increase of broadband mobile access, up to 73,000 subscribers at present.

M-Tel is also reporting an improvement on the mean profit per subscriber, although it still stays lower than that for Q2 2009. The telecom attributes that to lowered prices for calls and rates for mutual connection.

Telekom Austria Group, which owns MTel, reports a slight drop in group profit (3.9%) and a drop in EBTIDA with 8.3% for the first half of 2010.

Nevertheless it reports stabilization of its losses and strong cash flow.

Telekom Austria sees itself as operating in an “ever more competitive business environment, conditioned by strong competition, regulatory pressure and macroeconomic hindrances.”

The company announces expected profit at EUR 4.7 B and EBTIDA around EUR 1.6 M for 2010.

The dividend per share of Telekom Austria stays at a lower bound of EUR 0.75.

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Tags: Mtel, M-Tel, profits, revenue, mobile, mobile communication, mobile operators, economic crisis
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