EnglishLandline telephony operator "Romtelecom" posted revenues of 408.7 million Euros in H1 2009, down 7.6% over H1 2008 revenues, which stood at 442.4 million Euros, according to a report by Greek group OTE, the majority shareholder in the company.
Operating profit before depreciation and amortization (OIBDA), however has increased 8.5% in the first six months of this year, from 124.3 million Euros in H1 2008, to 134.9 million Euros.
Broadband and TV services posted a lower rate of growth over the previous periods, due to the current world crisis that is affecting the Romanian market.
In the second quarter of 2009, revenues of "Romtelecom" amounted to 207.3 million Euros, down 7.1% over Q1 2008, when they stood at 223.2 million Euros, the main reason being a 12% contraction in voice service revenues, as a combined result of the 8% decrease in ARPU (average revenue per user, ed. note) and a 4% drop in the number of lines.
Revenues from VPN also posted a 12% increase YOY in the first semester of 2009, following a 27% increase of the customer base for these services.
"Recent estimates show that Romania"s economy could shrink by 7-8% this year, which means a seriously worse revision of the previously forecasted 4.1% drop. Thus, the company"s goals are now to keep its customer base, maintain its current profitability levels and liquidity, as well as position the company to capitalize on the economic recovery", officials of the majority shareholders claim.
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