Business news from Ukraine

Vodafone Ukraine increased its revenue by 13% in January-March

21 May , 2024  

Vodafone Ukraine, the country’s second-largest mobile operator, increased its revenue by 13% to UAH 5.76 billion in January-March, compared to the same period last year, while net profit decreased by 12% to UAH 915 million.

According to a post on the operator’s website on Monday, Vodafone Ukraine’s revenue grew by 8% to $151 million in dollar terms, while net profit fell by 15% to $24 million.

OIBDA grew by 12% to UAH 3.18 billion and by 7% in dollar terms to $83 million. OIBDA margin decreased by 0.5% to 55.3%.

In January-April, capital investments decreased by 35% to UAH 815 million, and by 37% to $21 million in dollar terms. The company noted that capital expenditures in this reporting period decreased amid a 26% increase to UAH 5.65 billion in 2023.

Revenues from mobile voice and data services, fixed-line services, and sales of goods/services had a positive impact on the operator’s revenue. Roaming services had a negative impact, the company said.

In the first quarter of 2024, ARPU (average monthly revenue from fixed-line voice services per subscriber) increased by 8% to UAH 112.2 due to increased consumption of data and other services.

Vodafone Ukraine’s subscriber base grew by 2.7% to 15.8 million users. At the same time, in 2023, the operator’s subscriber base grew by 3.2% to 15.9 million compared to 2022.

“Throughout the reporting period, Vodafone Ukraine has seen stable dynamics in its subscriber base and operating performance,” the report says.

As of March 31, 2024, the company’s net debt amounted to UAH 10.068 billion ($257 million). The total nominal redemption amount of 5-year Eurobonds issued in 2020 as of March 31, 2024 is $100.1 million.

Earlier, Vodafone Ukraine CEO Olga Ustinova said that the company would invest UAH 10 billion in the development of mobile and fixed networks, transition to energy-efficient GPON Internet technology, and measures to increase energy independence over the next two years.