In 2023, Ukrainian mobile operator lifecell increased its net profit by 2.6 times compared to 2022, to UAH 2 billion 567.7 million.
According to the report of Turkcell’s parent company on its website on Wednesday, lifecell’s revenue increased by 24.4% last year to UAH 11 billion 712.1 million.
The operator’s EBITDA increased by 25.3% to UAH 6 billion 808.9 million, while the EBITDA margin grew by only 0.3 percentage points to 58.1%.
The operator’s capital expenditures in 2023 increased by 39.9% to UAH 4 billion 207.1 million.
According to the report, lifecell’s active subscriber base reached 11.7 million in the fourth quarter, up from 11.4 million in the third quarter and 10.2 million a year earlier.
As reported, in the first nine months of 2023, lifecell’s revenue increased by 26% to UAH 8 billion 571.8 million, EBITDA by 26.1% to UAH 4 billion 968.9 million, and net profit by 2.9 times to UAH 1 billion 68.6 million. The company also increased its capital investments by 51% to UAH 3 billion 035.7 million.
Lifecell is the third largest mobile operator in Ukraine. Turkcell owns 100% of the shares in Lifecell LLC.
Lifecell’s revenue in 2023 amounted to 75.9% of Turkcell International’s revenue and 8.4% of Turkcell’s total revenue. The Ukrainian operator accounted for 10.6% of consolidated EBITDA and 7.4% of consolidated profit of Turkcell.
On December 29, 2023, Turkcell signed an agreement to transfer 100% of the shares, as well as all rights and debts of Lifecell LLC (TM lifecell), as well as the contact center outsourcing company Global Bilgi LLC and the tower rental service provider Ukrtower LLC to the French investment company NJJ Capital. In the last report, the operations in Ukraine are listed in discontinued operations. However, the deal has been stalled due to the lack of approval from the Antimonopoly Committee of Ukraine and the arrest of some Ukrainian companies in the case against Russian businessman Mikhail Fridman, who is an indirect minority shareholder of Turkcell.
