The latest financial results of MobiFon verify this operator retains the cellular market leading position, with an estimated share of 53%. MobiFon's total number of subscribers amounted to 2,462,500 at the end of Q3, compared to 1,622,700 at the end of the same 2001 period, an increase of 52%.
It expects to gain another 500,000 subscribers for 2003 and be well over three million, Ted Lattimore, company president and COO has recently told Ziarul Financiar. Lattimore expects MobiFon to total 2.6-2.7 million customers by the end of the year.
The Q3 results published on Wednesday show the company to have registered $112.6 million in service revenues, an increase of 17% from July-September 2001, when service revenues amounted to $96.1 million.
Operating income rose 30% to $43.0 million compared with $32.9 million for the third quarter in 2001.
EBITDA increased 23% to $64.4 million compared to $52.4 million for the same period last year.
For the first nine months, service revenues increased 19% to $311.5 million compared to $260.7 million for the same period last year. Operating income rose 31% to $110.1 million compared to $83.9 million for the first nine months of 2001. EBITDA increased 24% to $172.8 million compared to $138.9 million for the 2001 period.
MobiFon added 125,500 net subscribers for the third quarter. The pre-paid/post-paid mix at the end of the third quarter of 2002 was 65/35 compared to 62/38 a year ago, according to a release of the parent company, Telesystem International Wireless.
"Two months before the liberalisation of telecommunications in Romania, Connex is the market leader with 2,462,500 clients and an estimated share of 53%. These results are very satisfactory and, along with Connex' ever increasing profitability, they confirm our constant development in an expanding market," Ted Lattimore says.
The monthly average revenue per subscriber (ARPU) was $14.45 in Q3 as compared with $14.12 in the preceding quarter and $19.04 in the third quarter of 2001.
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