BAKU, Azerbaijan, Jan.14
By Tamilla Mammadova – Trend:
MagtiCom, the leading mobile operator in Georgia published a consolidated financial statement, Trend reports via the operator.
The document reveals that the total revenue of the mobile operator is grown by 3 percent reaching 417.3 million lari ($127.2 million) in 2019. The company’s net profit is grown far more. Net profit increased by 47 percent and amounted to 171.3 million lari ($52.2 million).
According to the financial report, MagtiCom received the largest revenue from fixed internet in 2019, the increase amounted to 37 million lari ($11.2 million).
MagtiCom's revenues are distributed as follows:
- Mobile communication - 231 million lari ($70.4 million), an increase of 3 percent;
- Fixed broadband services - 174.3 million lari ($53.1 million), an increase of 27 percent;
- Revenue from interconnection services - 23.8 million lari ($7.2 million), decrease by 50 percent;
- Revenue from satellite TV - 12.6 million lari ($3.8 million), a decrease of 21 percent;
- Revenue from roaming services - 11.2 million lari ($3.4 million), a decrease of 28 percent.
MagtiCom spent 46.9 million lari ($14.3 million) on the employees' salaries in 2019, the company's infrastructure depreciation costs were 108 million lari ($32.9 million), expenditures on the sales were 30.9 million lari ($), and financial costs were 49.7 million lari ($15.1 million).
As of October 2020, Magti Internet Network has 458,000 subscribers and holds a 47.5 percent market share. The number of the company's subscribers in the mobile network is 1.96 million, which is 40.4 percent of the mobile market.
As of 2019, the value of the company's assets is 941.6 million lari ($287.1 million).
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