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October 28, 2020
BUSINESS

Romtelecom profit up 8.5 pc

Romtelecom’s Operating Income Before Depreciation and Amortization (OIBDA) rose by 8.5 pc in the first half of 2009, to EUR 134.9 M, despite an income decrease by 7.6 pc, to EUR 408.7 M, after a strong cost-cutting in the voluntary redundancy program, Mediafax reports. The cost of the voluntary redundancy program went down to EUR 3.3 M in Q1 this year, and to EUR 600,000 in Q2, from EUR 29.6 M and EUR 3 M respectively, in the first two quarters of 2008, Hellenic group OTE, the majority shareholder in Romtelecom announces in a press release. In H1 2008, the Romanian company had incomes worth EUR 442.4 M and an OIBDA of EUR 124.3 M. Cosmote Romania, the local division of Greek cell phone operator Cosmote, reported for the first six months of this year an operational loss of EUR 5.2 M, Agerpres reports. The result accounts for an 86.8 pc decrease from the EUR 39.3 M operational loss reported in H1 2008, according to financial information released by OTE group yesterday. The operator’s incomes for the first half of 2009 went up 73.9 pc, to EUR 203.1 M, from EUR 116.8 M a year ago. At the end of June 2009, the customer basis of Cosmote Romania had 6.330 M clients, 20 pc of them with post-paid services.

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