Cosmote revenues surge by 354%

The Greek operator currently has an 11 percent market share, according to company data. The blended average revenue per unit/user (ARPU) has gradually increased, amounting to €6.2 in H1 2007.

More than 65 percent of Cosmote’s new clients came from Germanos, the largest telecom distribution network in the region, acquired last year by Cosmote Group.

Germanos registered 45 percent growth in subscription activations, and a 260 percent increase in prepaid services, according to a Cosmote press release.

Earnings before interest, taxes, depreciation and amortization (EBITDA) in the first half of 2007 is 39.2 percent higher than in H1 2006 (-€18.6 million), while net losses dropped by more than half (-€20.7 million). Cosmote expects a positive EBITDA in 2008 and net profits in 2009. Net income increased by 53.1 percent in H1 2007, or -€20.7 million, compared to the company’s report of -€44.9 million year-on-year.

Cosmote Romania received €84 million of €219 million allocated by Cosmote Group for investments in H1, most of which were used for commercial development of the Romanian company, increasing network capacity and expanding coverage.

Cosmote’s competitors on the Romanian market are Orange and Vodafone. For H1 2007 Orange Romania reported 8.572 million clients and €578 million in revenues, up 18.8 and 24 percent, respectively, year-on-year, while Vodafone Romania reported 8.223 million clients and revenues up by 26.8 percent in the same period.

Cosmote Group reported an aggregated EBITDA of €463.6 million, up by 17.5 percent compared to H1 2006, and operational revenue of €1.4 billion (up 37.5 percent). Net income amounts to €176.3 million.

Operations
Cosmote Group operates in Greece, Romania, Bulgaria, Albania and FYROM, with 13.1 million clients, and expects to top 15 million by 2009.

“To become profitable on the Romanian telecom market, an operator needs a market share of at least 15 percent Nikolaos Tsolas CEO, Cosmote