Business News

Simobil Increasingly Profitable

Vienna, 13 August (STA) - Slovenia's second largest wireless carrier, Simobil, posted earnings before income tax (EBIT) of EUR 10.5m for the second quarter of 2014, an increase of 15.4%. Revenue rose 5.1% year-on-year to EUR 50.9m.

Earnings before income tax, depreciation and amortisation (EBITDA) rose 8.1% to EUR 16.4m, according to the interim report of its parent group Telekom Austria released on Wednesday.

The number of users rose 1.1% over the year before to 680,000, with the share of post-paid subscribers rising to 78.9% from 77.5% a year ago. Nevertheless, Simobil's market share inched lower, to 29.8% from 29.9%.

"Simobil continues to successfully navigate the challenging macroeconomic and fiercely competitive environment by focusing on its multi-brand strategy," the report says.

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