Romtelecom profit halts at EUR 252 M in 2009

Romtelecom revenue last year dropped by 7.2 per cent to EUR 807.7 M, but the operating income before depreciation and amortisation (OIBDA) idled at EUR 252 M, with the business being affected by adverse economic conditions and customer migration to competition, reads the annual report by Hellenic telecom group OTE, majority shareholder in the Romanian company. Romtelecom’s OIBDA in 2008 was EUR 253.7 M and reported revenue of EUR 869.9 M. 2009 results were also sustained by cutting costs in connection with the willing withdrawal programme to EUR 8.6 M from EUR 38 M in 2008. In as far as the telecom provider’s customer base goes, the total number of landlines last year dropped by 7.4 per cent from 2,961,053 to 2,741,166 units. On the other hand, Romtelecom recorded notable upturns in respect of the number of broadband internet (ClickNet) and satellite TV (Dolce) subscribers.

‘Despite the economic crisis and tough local market conditions, last year Romtelecom successfully grew the number of revenue-generating units by 4.1 per cent compared to 2008, to a total of over 4.4 M. The broadband internet and digital TV experienced the best growth rates – by 24 per cent and 37 per cent respectively – also reflected by the increase in the relevant revenue – by 26 per cent and 87 per cent respectively – compared to 2008’ Romtelecom CEO Yorgos Ioannidis stated.

The company’s number of broadband internet customers was up 24.1 per cent from 650,669 to 807,362 and the satellite TV subscribers’ base expanded by 37.5 per cent from 643,185 to 884,136 users.

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