Банкеръ Weekly



Telekom Austria, owner of the Bulgarian Mobiltel operator, announced its first quarter financial results last week. Telecom's revenues have grown by 15.8% compared to the same period of 2005 and amount to EUR1.15BN. Its operating profit is up by 30.7% reaching EUR221.6MN. Along with the acquisition of Mobiltel, it increased the group's net profit by 39.2%, up to EUR154MN.
The shareholders of the company should be delighted as the gain per share is already EUR0.32 compared to EUR0.22 a year earlier. Fixed service revenues have grown slightly, too, and have reached EUR534MN.
As to Mobiltel, its first quarter revenues amount to EUR126.9MN compared to EUR118MN a year earlier. The operating profit of the mobile operator has fallen considerably. It has shrunk to EUR43.5MN, down from EUR68.4MN as of March 31, 2005. One of the reasons is the reduction of the average monthly revenues per customer. They amounted to EUR12 in the first quarter of 2005 and are now EUR10.7. According to experts, the stagnation is provoked by the growing competition on the Bulgarian mobile phones market which resulted in cheaper tariffs as a whole. Mobiltel subscribers are nearly 3.7 million now.

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