GLOBUL's Subscribers Up 18.4% in a Year

GLOBUL's Subscribers Up 18.4% in a Year

The number of GLOBUL's subscribers reached 3,872,922 at the end of 2007, which is 18.4% y/y. The company captured again a significant share of the post paid market net additions, increasing its post paid customer base to 1,669,622 in the end of 2007, up by 46% y/y.

GLOBUL full year net revenues increased 20.4% y/y to BGN 806 million, which is mainly the result of the post paid segment usage increase, up by almost 80% for the full year. Core service revenues for 2007 (airtime, SMS & data and monthly fees) were up by some 22% y/y.

The company’s earnings before interest, tax, depreciations and amortizations (EBITDA) increased by 28% y/y, amounting to BGN 316.2 million. Net income increased by c.64% y/y compared to 2006 to BGN 63.4 million.

GLOBUL sustained its market share stable at c.40%, according to company estimates.
Company revenues for the last quarter of 2007 stood at some BGN 217 million, up by 18.9% y-o-y and net profit for the last three months of the year reached BGN 26.9 million, up by more than 130%.

GLOBUL’s blended AMOU for 2007 reached 97 minutes, up by c.37% y/y, as a result of the increasing share of post paid customers in its subscriber base and several other commercial initiatives driving usage. Blended ARPU remained stable at BGN 20.

GLOBUL CEO Thanasis Katsiroubas commented on the company’s 2007 performance: „GLOBUL achievements in 2007 show that the strategy we chose for the development of our company is right and well-accepted by Bulgarian consumers. The growth in our subscriber base, especially in the post paid segment, is a clear evidence for that. The trust of our clients and the fair and balanced approach we have in developing and offering our products and services guarantees that GLOBUL will remain among the leading companies on Bulgarian market in the future.”

In 2007, COSMOTE Group marked very strong operational performance in all markets, gaining share in the mature Greek market and in its Romanian operation and substantially expanding its customer base in Albania, Bulgaria and FYROM despite aggressive new entrants in the latter two countries.

This performance has been primarily the result of GERMANOS’ contribution to subscriber acquisitions. Total net subscribers added in Q4 reached a total of 1.5 million in all five countries of operations, a significant improvement from the 1.25 added in Q4 2006. The high subscriber growth in Q4 brought total adds for the Group during 2007 to 4.4 million, and the total base to 15.5 million customers, a 39.1% customer growth from 2006.

The 15 million customer base benchmark that was set as a 2009 target has already been exceeded at the end of 2007, as a result of the Group’s successful strategy throughout the markets of its presence.

Q4-07 Q4-06 Change
Revenues 216,9 182,5 18,90%
EBIDTA 85,6 67,1 27,50%
EBIDTA Margin 39,50% 36,80%
Net Income 26,9 11,7 130,40%
Net income margin 12,40% 6,40%

Consolidated revenue growth for the twelve months reached EUR 3.06 billion, up by 28.5% y/y and excluding the GERMANOS impact, by approximately 14.2%. In Q4, consolidated revenue growth reached 7.7%, driven by strong performance by all mobile operating units. Group net income increased marginally in 2007. In Q4, net income was negatively affected by increased financial and depreciation expenses due to higher capital expenditure.

2007 2006 Change
Revenues 806 669,4 20,40%
EBIDTA 316,2 247 28,00%
EBIDTA Margin 39,20% 36,90%
Net Income 104 63,4 63,90%
Net income margin 12,90% 9,50%

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