Kazakh Kcell decreases profit in 2014
Baku, Azerbaijan, Jan. 29
By Elena Kosolapova - Trend:
Kcell company, a leading operator in Kazakh telecommunication market decreased its net profit by 8.1 percent in Jan.-Dec. 2014 compared to the same period of 2013, Novosti-Kazakhstan reported on Jan. 29 citing the company.
The company's net profit reached 58.271 billion tenge (184.45 tenge = $1) in 2014.
The company's revenue (excluding national currency rate adjustments) increased by 0.8 percent, reaching 189.1 billion tenge in the mentioned period. The company's revenue (inluding national currency rate adjustments) remained at 187.6 billion tenge.
EBITDA (excluding non-recurring items) increased by 0.6 percent to 105.3 billion tenge. EBITDA margin increased to 56.1 percent from 55.8 percent a year ago.
Operating income (excluding non-recurring items) decreased by 1.8 percent to 80.1 billion tenge. Free cash flow of the company decreased by 21 percent to 63.744 billion tenge in Jan.-Dec. 2014.
A total number of 299,000 new subscribers joined the Kcell database in 2014. Meanwhile, total subscriber base decreased from 14.307 million users to 13.055 million users as a result of disconnection of 1.551 million subscribers from the database.
Kcell was established in 1998 and since February 1999 began rendering services of cellular communication under the trade mark Kcell. As of Dec. 31, 2013 the company's subscriber data base was 14.3 million.
Kcell is affiliated with TeliaSonera, the largest Scandinavian telecommunications holding.
Edited by S.I.
Follow the author on Twitter: @E_Kosolapova