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Revenues of TeliaSonera’s Uzbek subsidiary grow by 30%

Business Materials 5 February 2014 15:12
Cellular operator Coscom, (a subsidiary of Scandinavian TeliaSonera in Uzbekistan under the Ucell trademark), increased its revenues by 30 percent to 3.118 billion Swedish krona ($478.2 million), in 2013, according to TeliaSonera’s report published on Feb.5.

Tashkent, Uzbekistan, Feb.5
By Demir Azizov - Trend:

Cellular operator Coscom, (a subsidiary of Scandinavian TeliaSonera in Uzbekistan under the Ucell trademark), increased its revenues by 30 percent to 3.118 billion Swedish krona ($478.2 million), in 2013, according to TeliaSonera's report published on Feb.5.

The average MOU (monthly average minutes of usage) in the Ucell network amounted to 305 in 2013 compared to 266 minutes in 2012, an increase of 14.7 percent, according to the report.

Ucell's earnings before interest, taxes, depreciation and amortization (EBITDA), increased by 85.8 percent to 1.68 billion Swedish krona ($257.6 million) in 2013. The marginality of operations increased from 38.2 percent to 53.9 percent.

Ucell subscriber base has decreased by 10.3 percent to 8.496 million users in 2013 due to the fact that the company wrote off over 1.5 million inactive users in the first quarter of 2013, the report said.

Coscom LLC was founded in 1996. In July 2007, Fintur Holdings B.V., controlled by TeliaSonera, acquired 100 percent of the assets of the U.S. MCT Corporation which owned stakes in Coscom.

Starting in June 2008, the operator began providing mobile services in Uzbekistan under the brand name Ucell, working under the GSM-900-1800 standard. In February 2009, Ucell launched 3G for commercial operations and in July 2010 the network of the fourth 4G generation in Tashkent based on LTE (Long Term Evolution) technology.

Currently, TeliaSonera owns 94 percent of the shares of the operator, while Uzbek minority shareholders hold six percent.

Translated by L.Z.

Edited by C.N.

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