Slovenia

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Key financials (in EUR million)

2014

2013

Change
in %

Revenues

199.6

198.9

0.4

EBITDA comparable

63.6

62.8

1.2

EBITDA comparable margin

31.8%

31.6%

EBITDA incl. effects from restructuring and impairment tests

63.6

62.8

1.2

Operating income

41.0

39.9

2.8

Capital expenditure

89.9

23.2

287.6

 

 

 

 

Mobile communication

 

 

 

ARPU (in EUR)

19.1

19.9

−3.9

Mobile communication subscribers (in ̒000)

681.5

679.2

0.3

Share of contract customers

79.4%

78.0%

Market share

29.2%

30.0%

Mobile broadband subscribers (in ̒000)

24.3

20.8

16.8

Penetration

111.8%

108.5%

 

 

 

 

Employees (full-time equivalents as of 31 Dec)

399

396

0.7

Si.mobil continued to successfully navigate a challenging macroeconomic and fiercely competitive environment by focusing on its multi-brand strategy also in 2014. The company also acquired around 50% of the mobile spectrum auctioned in the frequency auction in April 2014 for EUR 63.9 mn, thereby securing 2 × 10 MHz in the new 800 MHz band and modest gains in the other bands.

In the year under review Si.mobil slightly increased its customer base in Slovenia by 0.3% to around 681,500, largely on the back of positive momentum in the no-frills segment. This was accompanied by a further improvement in the proportion of contract customers to 79.4% (2013: 78.0%). Despite this, Si.mobil’s market share declined slightly from 30.0% in the previous year to 29.2% in 2014 as a result of the aggressive pricing environment.

Revenues in Slovenia increased slightly by 0.4% to EUR 199.6 mn in the year under review, benefitting from strong growth in equipment revenues due to the sale of high-value equipment to new customers. This was partially offset by lower fee and traffic revenues as a result of price pressure and reduced roaming revenues, as well as lower interconnection revenues following the reduction in mobile termination rates in September 2014. As a result of the increase in no-frills contract customers, the average monthly revenue per mobile user (ARPU) declined to EUR 19.1 (2013: EUR 19.9).

Demand for high-value equipment led to a sharp rise in material expenses in the year under review; however, this was partially offset by a reduction in interconnection expenses due to lower prices, as well as a reduction in marketing and sales expenses. All in all, operating expenses increased only slightly by 0.2% to EUR 139.2 mn. As a result EBITDA comparable rose by 1.2% year-on-year to EUR 63.6 mn. With depreciation and amortisation slightly lower, operating income increased by 2.8% to EUR 41.0 mn.

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