April 12 (SeeNews) - Mobile operator Yettel Serbia recorded a net profit of 55 million euro ($60.1 million) in 2022, the Netherlands-based parent company PPF Telecom Group said.
Total revenue at Yettel Serbia, which is wholly-owned by the telecommunications arm of privately-held Czech PPF Group, totalled 481 million euro in 2022, while operating expenses totalled 345 million euro, PPF Telecom Group said in an annual financial report last month.
In March 2022, the PFF Group's mobile operators in Hungary, Bulgaria and Serbia started fully operating under the Yettel brand, thus making comparative data from 2021 partially inapplicable as it encompasses consolidated figures for both Serbia and Montenegro.
Yettel Serbia's mobile subscriber numbers stand at around 3 million. Revenue from mobile services alone amounted to 305 million euro in 2022.
Yettel Serbia launched a fixed broadband through a wholesale access to state-owned Telekom Srbija’s fibre network. The customer base stood at 41,000 subscribers in 2022.
Cetin Serbia, a provider of fixed and mobile infrastructure to Yettel Serbia, recorded a profit of 36 million euro last year, with total sales revenue totalling 103 million euro.
Cetin Serbia continued improving the availability and the capacity of its mobile network to meet the growing demand for mobile data services, and in preparation for the introduction of 5G services.
$ = 0.9154 euro