Financial results of FE "VELCOM" for the first quarter of 2010

The mobile operator announces the financial results of the first quarter of the current year. According to the results for March 31, 2010 the revenues of the operator (according to the International Financial Reporting) equaled to 296.1 billion Belarusian rubles, EBIТDA made up 140.2 billion Belarusian rubles. The subscriber base increased to 4 million 116 thousand, market share made up 41.2%, coverage equaled to 94.1% of the territory of the Republic of Belarus, where 100% of the urban population lives, penetration increased from 99.4% to 105.3%. Today the number of GSM base stations of velcom makes up 3276. For the accounting period velcom installed 37 base stations and provided with GSM-coverage 21 settlements. Thus the main efforts of velcom in the first quarter of the year were aimed at modernization and optimization of the characteristics of the existing base stations of the GSM-coverage, extend of the presence in the regions and development of the third generation 3G|3G+ network with the support of HSPA+.

– The first quarter of 2010 was very intensive for velcom. While launching the first HSPA+ network in Belarus within shortest timeframe successfully, velcom continued also to develop its core-business, achieving a solid growth of revenues by 12.5% compared to the first quarter 2009, – noted Helmut Duhs, Chief Executive Officer of SB Telecom Ltd. on issues of FE "VELCOM".