May 12 (SeeNews) - Telekom Romania Mobile, a subsidiary of Deutsche Telekom, said on Thursday its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) soared 301.7% year-on-year in the first quarter of 2022 to 11.7 million euro ($12.2 million).
The increase in EBITDA has been a result of the company’s base of customers growing, along with a 28.6% reduction in direct costs, Telekom Romania Mobile said in a press release.
Telekom Romania Mobile’s customer base increased 7.6% year-on-year in the first quarter of 2022, to a total of 3.82 million.
The communications services operator also reported total revenues of 78.4 million euro within the aforementioned time period, citing a 1.6% year-on-year increase.
The company further explained that cuts in mobile termination rates had impacted its revenue, the rates having been reduced by 8% in July 2021 and a further 21% in the beginning of 2022.
"On the operational side, we will continue to invest in a smart way, and to pursue a strict cost discipline that will help us prevail through these times of unpredictability," Telekom Mobile Romania Chief Financial Officer Nicolas Mahler said.
The mobile network operator announced in April it would double the number of base stations using solar energy, in an effort to reduce its carbon footprint.
In 2021, Greece's Hellenic Telecommunications Organization (OTE) purchased Telekom Mobile Romania from its then parent company, Telekom Communications Romania.
(1 euro = 4.9480 Romanian lei)