January 31 (SeeNews) - The Bulgarian unit of Norwegian telecommunications group Telenor said on Wednesday its earnings before interest, taxes, depreciation and amortisation (EBITDA) edged down to 247 million levs ($157.3 million/126.3 milllion euro) last year, from 251 million levs in 2016.
The company's total revenues rose to 675 million levs in 2017, from 667 million levs in the previous year, on the back of higher non-mobile revenues, it said in a statement. Its EBITDA margin declined to 36.6% from 37.6%.
Expressed in Norwegian crowns, Telenor Bulgaria's 2017 EBITDA edged down year-on-year to 1.18 billion crowns, from 1.19 billion crowns while its revenues edged up to 3.22 billion crowns in 2017, from 3.17 billion crowns in 2016, the Norwegian parent said in its fourth-quarter report. It noted it has used an exchange rate of 4.7689 Norwegian crowns per one Bulgarian lev in its calculations for 2017 versus 4.7494 crowns per lev for 2016 results.
In the fourth quarter alone, Telenor Bulgaria reported EBITDA of 56 million levs, down from 62 million levs in 2016, and revenues of 178 million levs, down from 179 million levs.
The number of Telenor's subscribers in Bulgaria fell to 3.15 million in 2017, from 3.43 million in the previous year.
Capital expenditure dropped to 47 million levs in the period under review, from 67 million levs in 2016.
Last week, Telenor said it has received inbound and unsolicited interest for its Central and Eastern Europe (CEE) portfolio which comprises mobile operations in Bulgaria, Montenegro, Serbia and Hungary. According to Bulgarian media reports Telenor is holding talks with a U.S. fund for the sale of its business in the three SEE countries for a total of 2.0 billion euro ($2.45 billion).
Telenor bought Bulgarian mobile operator Globul from Greece's OTE for 717 million euro in 2013. In November 2014, Globul was rebranded to Telenor Bulgaria.
On the Bulgarian mobile segment, Telenor competes with Mtel, the local unit of Telekom Austria, Bulgarian telecommunications group BTC, which operates under the brand name Vivacom, as well as with 4G operator Max.
(1 euro=1.95583 levs)