In 2009 Ukrainian telecom companies decreased their total revenues by 35 percent in dollar terms to $5.6 billion, reflecting the hryvnia’s sharp depreciation and negative impact of the ongoing economic decline.
In hryvnia terms, telecom sales were up 1 percent. In particular, cellular operators saw their revenues decline 38 percent in U.S. dollars (-3 percent in hryvnia), to $3.4 billion, accounting for 61.5 percent of total telecom revenues. Fixed-line revenues, generated mostly by state-owned telephone company Ukrtelecom, were down 40 percent to $1.1 billion on a further decline in traffic. Internet revenues remained strong in 2009 thanks to growing subscriber base and traffic, rising in hryvnia terms to Hr 2.9 billion (up 19 percent) but falling 24 percent in dollars ($344 million).