Tariff cut brings rewards

Features

Cosmote, the leading Greek mobile operator, has credited increased traffic for a reported rise in revenues of 13.8% for the first half of 2003.

Half year revenues were up to EUR 574.6 million and net income up 16.7% to EUR 235.6 million. EBITDA margin stood at 41%, a slight rise on the equivalent 2002 period.
Although the operator cut tariffs by an average 25% Cosmote carried 2.1 billion minutes on its network during the first half of the year, an increase in traffic volumes of 32% year on year.  This translated to an increase in airtime revenues of 17.9%.
ARPU for the period was stable compared to 2002, at around EUR 28. This included absorbing the effects of the increased number of pre pay customers and the decrease in tariffs. ARPU from contracted subscribers on the other hand was up 8.4% to EUR 46.4 which the operator attributed to increased usage resulting from its tariff cuts.
Data contributed 17% by revenue and roaming revenues 2% of total revenues.
AMC, the group's Albanian company reported revenues that were largely stable, although EBITDA for the half year was down 17.1% at EUR 28.1 million.