Business News

Simobil Operating Profit Up 22% in First Half-Year

Ljubljana, 18 August (STA) - Slovenia's second-largest mobile operator, Simobil, generated EUR 12.7m in operating profit in the first six months of 2010, which is up 22.1% over the same period last year.

Operating revenues meanwhile dropped by 7.3% to EUR 81.7m year-on-year, according to data published on Wednesday by Telekom Austria, Simobil's parent company.

Operating profit in the second quarter of the year topped EUR 6.4m, which is 10.3% more than in the same period in 2009. In year-on-year comparison, revenues in the second quarter remained flat at EUR 42.2m.

Simobil however managed to increase earnings before interest, taxes, depreciation and amortisation (EBITDA) by 2.6% to EUR 11.7m in the second quarter.

EBITDA for the first half-year was also up, by 6.9% to EUR 23.2m, mostly due to lower costs of material and marketing services which compensated for lower revenues.

Simobil increased the number of users by a further 1.7% to 592,000 in the second quarter, which took the company's market share from 28% to 28.2%.

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