Ukrtelecom cuts income by 14% to UAH 2.5 billion in H1, 2023

In January-June 2023, the Ukrtelecom telecommunications company reduced revenue by 14% to UAH 2.5 billion compared to the same period last year.

This was stated in the message of Ukrtelecom, Ukrainian News Agency reports.

In the 6 months of 2023, the company's Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) were more than UAH 700 million, and EBITDA margin 27.8%.

The number of optical Internet subscribers in the first half of the year increased by almost 10% to 320,000.

According to the report, 2,023 km of fiber optic lines were built in 2023.

Revenues for the first half of the year from commercial rental of property amounted to UAH 230 million.

"During the full-scale war, the company lost a number of real estate facilities in temporarily occupied settlements, many buildings were damaged and destroyed by the enemy. According to preliminary estimates, the company's direct losses from destroyed buildings, lost equipment, telecom networks and other assets in the temporarily occupied territories amount to about UAH 700 million. The total devastating consequences of Russian aggression for Ukrtelecom reach UAH 2.8 billion, which is mainly due to economic impairment of operating assets," the statement said.

As of now, Internet access services are provided in 88% of Ukrainian settlements covered by its network before the full-scale Russian invasion.

As Ukrainian News Agency earlier reported, Ukrtelecom ended 2022 with the EBITDA of more than UAH 1.2 billion, reducing income by 15% to UAH 5.6 billion compared to 2021.

Ukrtelecom JSC is one of the largest telecommunications companies in Ukraine.

The company is part of the SCM group of companies.