A1 Bulgaria grows 9-mo EBIT, revenue by 8.1%

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A1 Telekom Austria Group said that its Bulgaria grew its earnings before interest and taxes (EBIT) by 8.1% year-on-year to 57.8 million euro ($68.6 million) in the first nine months of 2020, on the back of a similar rise in revenue.

A1 Bulgaria’s earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by an annual 6.1% to 146.1 million euro in the January-September period of 2020, A1 Telekom Austria Group said in an interim financial statement on Tuesday.

The company’s revenue increased by 8.1% to 376.9 million euro in the first nine months of 2020, with service revenue adding 6.3% to 299.5 million euro.

The rise in service revenue was driven by a 12.2% increase in fixed-line service revenue, which came in at 97.5 million euro in the review period. Mobile service revenue totalled 202 million euro, up 3.7%.

Capital expenditure in Bulgaria dropped 16% to 39.6 million euro in the first three quarters of 2020, the group said.

A1 Bulgaria’s wireless subscribers decreased to 3.767 million at the end of September, down 4% year-on-year.

In the third quarter alone, A1 Bulgaria’s EBIT increased 2.1% to 22.8 million euro, as revenue added 4.8% to 127.9 million euro.

A1 Bulgaria competes with Bulgarian Telecommunications Company (BTC), which operates under the brand name Vivacom, and Telenor Bulgaria owned by Dutch-registered investment group PPF.

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