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Telenor Bulgaria's net profit falls in 2020 despite revenue rise

Author Mario Tanev
Telenor Bulgaria's net profit falls in 2020 despite revenue rise Telenor Bulgaria/Facebook

SOFIA (Bulgaria), March 4 (SeeNews) - Telecommunications company Telenor Bulgaria, a unit of Dutch-registered PPF Group, saw its net profit decline to 55 million euro ($66 million) in 2020 from 77 million euro in 2019, the group said.

Telenor Bulgaria's revenue increased to 402 million euro last year from 384 million euro in 2019, with the average revenue per user (ARPU) on the mobile segment up 6.8% to 8.9 euro, PPF Group said in a statement on Wednesday.

The company's operating expenses grew to 262 million euro from 204 million euro.

Telenor Bulgaria's customers decreased by 1.6% year-on-year to 3.47 million in 2020, of which mobile contract subscribers formed 82%.

On the Bulgarian mobile segment, the company competes with A1 Bulgaria, a unit of A1 Telekom Austria Group, and Bulgarian Telecommunications Company (BTC), which operates under the brand name Vivacom.

PPF Group is majority-owned by Czech investor Petr Kellner.

($ = 0.8310 euro)

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