Vodafone Romania’s revenues, down 1.2% in Q2
Telecom group Vodafone Romania recorded service revenues of EUR 189.7 million for the quarter ended on June 30, 1.2% lower than in the same period last year.
The revenues also decreased by 4% in April-May compared to the company's budget planning. However,
Vodafone also cut its operational expenditures by 10% in the period, which prevented cash flow problems. There was no significant impact on the number of customers either, the company said.
The Q2 results reported on Friday by Vodafone Group shows that Vodafone Romania reached 10.8 million customers at the end of the analyzed period.
"The past months came with huge and numerous challenges for individuals, businesses, and other social and economic actors within our digital society. At Vodafone, we took immediate measures to ensure that our business continues to operate at full strength under these new circumstances to be able to support the society, as fixed and mobile communications have proven, once again, to be vital infrastructures. Our main objective was to protect our employees and develop seamless connectivity solutions for all our customers to be able to carry on their personal and professional lives," said Vodafone Romania CEO Murielle Lorilloux.
According to the company's report, in the financial year April 1, 2019 - March 31, 2020, Vodafone Romania recorded a net profit of RON 165.7 mln (EUR 43 mln), from a loss of RON 6.4 mln in the previous financial year.
The company's turnover rose by 4.4% year-on-year to RON 4.05 bln (EUR 860 mln).