Last week Trivon AG, which does business through its subsidiaries under the Virgin Connect brand in Russia, confirmed its commitment to doing business in Russia and unveiled its latest results during the official opening of its new Nizhny Novgorod regional headquarters.
Speaking to regional and local government officials, key customers and members of the press, Istvan Kovacs, CEO of Trivon Networks in Russia, cited the acquisition and merger of a leading local operator, MegaMax, in late 2013, as “a great example of execution of our strategy – find local operators with talented local management and share in the growth opportunity with them.”
“The combined branch has demonstrated very solid growth as evidenced by the first five months of 2013 versus 2014 – revenue up 27% for the period, EBITDA up 67%, and a total cost reduction of 39%. This year Virgin Connect has invested CAPEX of more than 60 million rubles [nearly $1.5 million] to connect new customers.
