Tele2 Russia, a subsidiary of a European telecommunications holding based in Sweden, announced yesterday its 2010 financial results.
The Russian subsidiary generated 10.3 billion Swedish crowns ($1.6 billion) in revenue, and its EBITDA reached 3.6 bn crowns ($555 million). This is a significant increase from 2009, with revenue up by 35.5 percent and EBITDA up by 44.5 percent.
The Swedish group now considers Russia its “most important” market, according to Vedomosti, a Russian business daily, which reports that Tele2 now generates more EBITDA in Russia than in any other country, including Sweden, and more revenues when not considering fixed telephony.
Tele2 is a rapidly developing cellular operator in multiple Russian regions. It has positioned itself as a mobile discounter in a country where demand for discounters is high.
Tele2 Russia counted 18.4 million subscribers in Q4 2010, an increase of 4 million in one year, with an ARPU of 219 rubles or approximately $7.50. However, this figure is still 3.7 times lower than in Sweden.
According to the company’s financial report, the mobile discounter plans to increase its capital investment in Russia up to $310 million, mainly to meet the requirements of the GSM licenses it won in 2007. These resources will also be used to develop the operator’s network capacities.
Sources: Tele2, Vedomosti, ComNews.ru
