Romanian mobile telephony operator MobiFon-CONNEX GSM last year recorded profit of 64.2 million dollars amid 299.5 million dollars in turnover, higher than the economic results posted in 1999, when the company had registered 2.7 million dollars in profits, against turnover standing at 211.4 million dollars.
"I am very happy with the MobiFon results for 2000. The company grew its CONNEX GSM customer base by almost 70% and Service Revenues by 40%, while overall quality and customer satisfaction were maintained at the previously established very high levels," Ted Lattimore, MobiFon President and CEO, told Ziarul Financiar.
The company's EBITDA earnings were 130 million dollars in 2000, against 54.9 million dollars in 1999.
"EBITDA earnings registered a new high and for the first time the company provided operating income for the full year, in part due to the employee productivity improvements that kept year over year expenses stable," said Lattimore.
He thinks that investments in new services such as the short messaging service (SMS) "Chat", the WAP information applications, the Kamarad pre-paid cards and the unique One Cent Weekend calling "were timely responses to customer demand and contributed to the strong growth."
With 171.700 new clients attracted over the last quarter of last year, MobiFon had 1,171,800 subscribers at the end of 2000.
"The share between pre-paid subscriptions (Connex Go, i.e.) and the post-paid subscriptions was almost equal. This situation clearly shows MobiFon profit increase," reads a Telesystem International Wireless (TIW) press release. TIW is the main shareholder in MobiFon.
"Additionally, MobiFon's XNET ISP became Romania's largest Internet Service Provider with 44,000 subscribers by year-end. Leadership in voice and data services is directly in line with MobiFon's mission of making it easy for people in Romania to stay in touch and to connect to the world," added Ted Lattimore.
Last year, TIW integrated MobiFon in ClearWave, the group's Central and East European division for mobile telephony. ClearWave, which holds a 58.9% stake in MobiFon, also develops operations in the Czech Republic.
MobilRom, the other GSM operator in Romania, which holds Dialog service, last year registered 50 million-dollar profits, against 274 million dollars in turnover. MobilRom had 1.2 million subscribers at the end of last year. Bernard Moscheni, the company's general manager, has recently announced that MobilRom investments will amount to 100 million dollars this year.
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