Astelit Sustains Losses Of USD 26.4 Million In Q3

lifeThe Astelit cellular mobile telephone company, which provides mobile telephone services under the life:) brand name, finished the July-September period with USD 26.4 million in the red.

This is said in the quarterly report of Astelit.

In the third quarter, the company’s revenues in the hryvnia equivalent shrank by 8.85% or UAH 60.1 million to UAH 670.6 million (in dollar terms, it increased by USD 8.3 million or 8.9% to USD 84.9 million).

EBITDA (earnings before interest, taxes, depreciation, and amortization) of the company made up USD 21.5 million.

The company’s average revenue per user (ARPU) was USD 2.6.

Its capital expenditures fell by USD 26.8 million or 84.3% to USD 5 million in the third quarter of 2010, compared with the corresponding period of 2009.

As Ukrainian News earlier reported, the Astelit cellular mobile telephone company ended the second quarter of 2010 with EBITDA (earnings before interest, taxes, depreciation, and amortization) of USD 20.3 million.

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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