Globul Subscribers Up, Revenues Down in Q2

Business | August 8, 2013, Thursday // 15:07
Bulgaria: Globul Subscribers Up, Revenues Down in Q2

Telenor recently acquired Bulgarian operation, Globul, saw its revenues in the second quarter fall 15.1% to EUR 87 M on an annual basis, even though its total customer base increased.

This decline is chiefly due to cuts in both domestic and international MTRs as part of the regulatory glide path introduced on 1 July, 2012. National MTRs in Bulgaria have also been reduced to EUR 0.022 per minute on 1 January 2013.

Service revenues dropped by 18.9% in the second quarter compared to the same period last year.

The MTR cuts had a negative impact on Q2 EBITDA, which decreased by 12,3% to EUR 34,2 M.

Globul’s total customer base exceeded 4.6 million at the end of Q2, up 6.4% from the prior-year level.

Earlier this week Stein-Erik Vellan, who was named CEO of Telenor recently acquired Bulgarian operation, Globul, introduced the new top management appointments.

The Norwegian incumbent in April agreed to buy Globul and retailer Germanos from Greece's OTE for EUR 717 M.

Globul & Germanos were consolidated in the Telenor Group on August 1, 2013.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: OTE, greece, Germanos, Globul, Bulgarian, Telenor, Stein-Erik Vellan, Bulgaria, mobile, market, Norwegian, Norway, incumbent
Advertisement All Are Welcome! Join Now!
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria