Cosmote Romania's revenues exceeded €100 mln

Revenues surged by 232 percent in the third quarter, to €41.5 mln from €12.5 mln year-on-year, while losses amounted to €8.8 mln, similar to last year's level.

"The company's rapid evolution, both in terms of our client database and the significant increase in total revenues, is in keeping with targets for positive EBITDA in 2008 and net profit in 2009," said Antonis Kerastaris, CFO of Cosmote Romania.

The company estimates that Cosmote's investments in infrastructure will amount to €200 mln by the end of 2007. The Cosmote network covers 97 percent of Romania's population and is expected to exceed this level by year-end. The company also surpassed the 3 million client threshold at the end of October when it had an estimated 13 percent market share.

The Cosmote group registered €2.25 mln in operating revenue in the first nine months of 2007, up 38.1 percent year-on-year. It further reported a total of 14.1 million clients by the end of September, and estimated that expects to exceed 15 million clients in the coming six months.