Ukrtelecom revenue falls 10% in 2023

MOSCOW. March 5 (Interfax) - Ukrtelecom JSC, Ukraine's largest fixed telecom provider, saw its revenue drop 10% to UAH5 billion in 2023, Ukrainian media reported the company as saying, citing unaudited financial statements.

EBITDA exceeded UAH1 billion, and the EBITDA margin fell by 1.3 percentage points to 21.1%.

Ukrtelecom said capital expenditures totaled more than UAH500 million, as the company continued to carry out projects to develop its optical network and protect infrastructure from cyberattacks.

The company laid almost 5,300 km of fiber optic cable in 2023, giving more than 2 million households the option to use modern optical network services by the end of the year. The number of users of the company's fiber optic Internet services rose 15%, driving 18% revenue growth in this segment.

Revenue from commercial leasing of real estate freed up thanks to network modernization grew by 35% to over UAH500 million

The company said its losses as a result of the conflict in Ukraine total UAH2.8 billion and are primarily due to impairment of operating assets and loss of assets. About 260 structures belonging to the company have been damaged and about 50 have been completely destroyed.

Ukrtelecom is also the sole owner of TriMob LLC, a provider of UMTS/WCDMA standard mobile services. Ukrtelecom has been part of Ukrainian tycoon Rinat Akhmetov's SCM investment group since 2013.

The official exchange rate was UAH38.16/$1 on March 4.