In 2009, the company reduced its net revenue by 19.9% or USD 87.6 million to USD 351.1 million, as compared with 2008. CAPEX (capital expenditure) totaled USD 216 million in 2009.
The EBITDA indicator in 2009 made up USD 20.2 million, which is 37.5% or USD 12.1 million less than in 2008.
Commenting on the financial results of the company, senior executive director of Astelit, Tansu Yegen, said that the reduction of the revenues is linked to the devaluation of hryvnia against dollar.
The fall in the level of EBITDA was entailed by the pressure of competition making the operator actively invest into the marketing activity to attract new subscribers.
Tansu Yegen also pointed to positive dynamics of the increment of subscriber’s base in 2009. He expressed hope for dampening of economic crunch aftermath in 2010.
The Turkcell company (Turkey) owns 54.8% of the shares in Astelit while the System Capital Management corporation (Donetsk) owns 45.2%.