March 31 (SeeNews) - Mobile operator Yettel Serbia's net profit has decreased to 55 million euro ($60.1 million) last year from 63 million euro in 2021, 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, rose to 481 million euro in 2022 from 472 million euro a year earlier, PPF Telecom Group said in an annual financial report on Thursday.
Yettel Serbia's mobile subscriber numbers went up 1.9% reaching around 3 million. Revenue from mobile services accounted for more than half of the company's total revenue, or 305 million euro, a 33% decrease year-on-year.
In March 2022, the PFF Group's mobile operators in Hungary, Bulgaria and Serbia started fully operating under the Yettel brand.
Yettel Serbia launched a fixed broadband through a wholesale access to state-owned Telekom Srbija’s fibre network. The customer base grew to 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, the same as in 2021. Revenue at Cetin Serbia amounted to 103 million euro compared to 99 million euro in 2021.
Operating expenses increased to 345 million euro from 329 million euro at Yettel Serbia, while Cetin Serbia recorded a 13% annual rise in operating expenses to 25 million euro in 2022.
Cetin Serbia continued improving the availability and the capacity of its mobile network to meet growing demand for mobile data services, and in preparation for the introduction of 5G services.
Elsewhere in Southeast Europe, the PPF Group operates the Yettel brand in Bulgaria.
$ = 0.9157 euro