Nearly triple increase in VIVACOM’s profit for 2012
VIVACOM reported over 182% increase in its profit for 2012 to 20.3 million BGN. The financial statement of the company, published today, showed nearly triple growth compared to the 2011 figures. The strong development was a result of the telecom's optimization of costs and better positioning of its products and services portfolio in 2012.
VIVACOM continued with its policy of transferring the interconnect price reductions to the end user. It reflected positively on the demand for the telecom's services and kept the upward trend in the number of its subscribers.
VIVACOM's revenues from mobile services increased steadily by 7.8% on annual basis to 397.8 million BGN, despite the reduction in the termination rates. For the same period customers increased by 16.8%, while the growth in mobile internet users was 71.6% for 2012. TV subscribers increased by more than 84% over the same period. The results allowed the company to compensate for the decline in fixed telephony revenue and that led to a decrease in total revenue by only 3.4% to 857.9 million BGN in 2012.
The financial position of the company remained stable with funds in bank accounts and short-term bank deposits amounting to 63.9 million BGN at the year-end and paid dividends of the amount of 158 million BGN. For a third consecutive year VIVACOM continues to implement its investment program focused on the expansion of high-speed internet through optical fiber technology, the development of its mobile network, and the broadening portfolio of TV services.