Press Releases

Sofia, January 30, 2012 - VIVACOM reports more than 17% increase in the revenue from mobile services to BGN 327.2 million and 8% decrease in the fixed one to BGN 517.6 million for 2011 compared to 2010. This shows the Telco financial results for the year, published today.

The stable growth of the mobile services revenue allowed operator to decrease the cost price of the services and to present lower offers to final customers. This approach led to a serious growth of 28% in VIVACOM's customer base for only a year which succeeded to compensate the decrease in fixed services revenue thus reflecting the total revenue drop of only 1.2 % to BGN 885.9 million. The company declares more than 4 million clients to use its services and a second place in terms of number of customers and total revenue.

The biggest success VIVACOM reports in mobile data traffic usage which for a year has increased more than 10 times while the growth in customers using these services has risen more than 200%. More than 280% is the growth in VIVACOM TV-subscribes as the company becomes the second largest satellite provider in Bulgaria for only one year.

Net profit for 2011 has decreases comparing to last year numbers and reaches BGN 8.4 million. The difference is mainly due to a reduction of revenues from fixed services, reduced retail prices and discontinued operations.

In 2011 VIVACOM completed the deal with Bluesat Partners Ltd. for the sale of the 50 % of NURTS Bulgaria AD for BGN 58.7 million. Completion of this deal transfers the whole process for development of the digital radio and TV-infrastructure to NURTS Bulgaria AD, a joint-venture between Mancelord Limited, the company which from August 2010 owns 50% of the company, and the new investor.

At the end of 2011 the company's financial position remained strong with cash in bank accounts and bank deposits totaling BGN 142.1 mln and paid dividends for BGN 160.3 mln. VIVACOM continues with the implementation of its 600 million BGN investment program allocated in the next three years for service development and expansion of its telecom infrastructure.

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