Greek OTE says EBITDA of Albanian unit down 37.7% in Jan-Sep 2011.

By bne IntelliNews November 11, 2011
Albania's leading telecommunications company Albanian Mobile Communications (AMC) posted earning before interest, tax, depreciation and amortisation (EBITDA) of EUR 29.2mn in the first nine months of 2011, down by 37.7% y/y, AMCs parent company Greek OTE said. AMC total revenue fell 21.7% on the year to EUR 72.6mn, due to lower local and international termination rates and aggressive pricing strategy on local market, particularly in the prepaid segment. In a bid to offset the falling revenue, AMC launched efforts to optimize the organizations cost structure with particular focus on marketing and distribution. AMCs subscribers decreased by 10.7% y/y to some 1.819mn as of end-September 2011. In quarterly terms, the number of subscribers decreased by 4.8% in Q3 2011, or by some 92,550 subscriptions. AMCs biggest rival, Vodafone Albania reported 1.748mn subscribers as of end-September 2011, up by 2.8% y/y. We note, that AMC plans to launch 3G services in Albania by end-2011, after the company won Albanias second licence in September 2011.
AMC financial results, Jan-Sep, EURmn
2010 2011 % y/y
Revenues 92.7 72.6 -21.7
EBITDA 46.9 29.2 -37.7
EBITDA Margin (%) 50.6 40.2 -10.4pp
Total customers end-June (000) 1,912 1,820 -4.8
Source: OTE
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