Astelit Ends First Quarter with Profit of USD 3.6 Million

life_logo_EngThe Astelit cellular mobile telephone company, which provides mobile telephone services under the life:) brand name, ended the first quarter of 2010 with EBITDA (earnings before interest, taxes, depreciation, and amortization) of USD 3.6 million.

According to the statement, the company’s revenues increased by UAH 54 million or 8.9% to UAH 663 million (in dollar terms, it increased by USD 3.9 million or 4.9% to USD 83 million) in the first quarter.

The company’s average revenue per subscriber remained unchanged at USD 2.3 in the first quarter of 2010, compared with the corresponding period of 2009.

Its capital expenditures reduced by USD 15.1 million or 35.6% to USD 27.1 million in the first quarter of 2010, compared with the corresponding period of 2009.

Astelit’s Chief Executive Director Tansu Yegen said that the financial indicators of the company improved in the first quarter because the total number of its subscribers reduced while the number of its active subscribers increased, its expenditures on sales and marketing reduced, and the profitability of its tariff plans increased.

As Ukrainian News earlier reported, the number of subscribers of Astelit increased by 0.04 million or 0.3% to 12.16 million in March compared with February.

Astelit reported a loss of USD 111.8 million for the year 2009, when its net revenues reduced by USD 87.6 million or 19.9% to USD 351.1 million compared with 2008.

The Turkcell company (Turkey) owns 54.8% of the shares in Astelit while the System Capital Management corporation (Donetsk) owns 45.2%.

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