Vodafone Ukraine posts UAH 3.8 profit, ups revenues 8.1% to UAH 15.9 billion over 9M, 2023

In January-September 2023, the Vodafone Ukraine mobile communication operator (Kyiv-based VF Ukraine PrJSC, formerly known as MTS-Ukraine) received a net profit of UAH 3.807 billion, while for the nine months of 2022 the company received a loss of UAH 620 million.

This is stated in the company's message, Ukrainian News Agency reports.

During this period, the operator's revenues increased by 8.1%, or by UAH 1.191 billion, to UAH 15.911 billion.

It is also reported that OIBDA (Operating Income before Depreciation and Amortization) increased by 8% to UAH 9.05 billion, and OIBDA margin remained at 56.9%.

Capital investment for the nine months amounted to UAH 3.78 billion, which is 86% more compared to the same period last year.

"The subscriber base remains stable compared to the previous quarter of 2023 - 15.2 million customers. The decrease compared to the third quarter of last year is due to a decrease in the number of mobile phone users due to active hostilities, the inaccessibility of mobile phone networks in the temporarily occupied territories and in the war zone and mass migration," the statement said.

As Ukrainian News Agency earlier reported, in 2022, Vodafone Ukraine reduced its net profit 3.5 times, or by UAH 2.732 billion, to UAH 1.1 billion compared to 2021.

In 2022, the operator's income decreased by 2%, or UAH 321 million, to UAH 19.824 billion.

In March 2020, Vodafone (United Kingdom) signed a partnership agreement with the Vodafone Ukraine mobile operator to extend the use of the Vodafone brand in the work of the Ukrainian society for the next five years.

On December 3, 2019, Bakcell (Azerbaijan) completed the purchase of the Vodafone Ukraine mobile operator from the MTS telecommunications company for USD 734 million.

Bakcell is part of the NEQSOL Holding group of companies, the founder of which is the Azerbaijani Nasib Hasanov.

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