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Vipnet Holding 60 Percent of the Wireless Broadband Market
The number of prepaid wireless broadband customers increased more than eight times
In 2009, Vipnet had 4.7 percent customer base increase to 2.6 million customers and increased market share to 42.6 percent in terms of number of SIM Cards despite of challenging environment. It was reported today by the Telekom Austria Group in Vienna, of which the Croatian mobile operator is also a member. The number of Vip wireless broadband customers also increased reaching the number of 137.000, which represents an increase of even 77 percent. The number of prepaid wireless broadband customers increased thereby more than eightfold. Vipnet has thereby confirmed its position of market leader again with a market share of almost 60 percent. The mobile penetration rate in Croatia reached 138.4 percent at the end of 2009, while it represented 133.6 percent at the end of 2008.
- The challenging economic environment has had an influence on customers usage which we partly compensated with customer base growth and especially growth of wireless broadband customer base. Due to strict cost management we also slightly improved our EBITDA when we exclude external factors from regulations and additional tax – stated Mladen Pejković, CEO of Vipnet.
The 13.2 percent increase in the number of postpaid subscribers 2009 has partly compensated the decrease in Average Revenue per User (ARPU) due to the overall purchasing power decrease as a result of overall unfavorable economic market situation.
In 2009 Vipnet had revenue amounting to EUR 476.9 million compared to EUR 523.6 million at the end of 2008. Revenues were impacted by lower customer usage, as well as additional marketing benefits, roaming regulations and new mobile termination rates.
A reduction of operating expenses by 6.2 percent from cost saving measures, initiated to mitigate the burden from the six percent levy on mobile telephony services, thus helped to restrain the decline of EBITDA to EUR 170.8 million.
Operating income (EBIT) amounted to EUR 100.8 million in 2009. During the same period, Vipnet invested EUR 57.6 million in the long-term strategy aimed at ensuring the quality of service and Vip network coverage, as well as innovative products and services tailored to the customers’ needs.
