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Vodafone Romania reports 2009/2010 results

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Vodafone Romania reported 142,000 net additions in the fiscal year 2009/2010, for a total of 9,730,000 customers. As compared to 2008/2009, the company increased its closing customer base by one per cent.
Postpaid customers accounted for 38 per cent and prepaid for 62 per cent of Vodafone’s total customer base. “At the end of a challenging year, in which the entire economy was impacted by the crisis, our results show a 20 per cent drop in revenues compared to the previous financial year, following the downwards trend of the entire telecommunications industry in Romania. However, our efficiency oriented strategy helped us to maintain a high EBITDA margin, only three per cent lower than last year. This allowed us to continue to invest significantly in , a recent example being the launch of 3G services in the 900 MHz frequency. We are pleased that, in a year of economic downturn, we managed to contribute to the digitization of the country and to the future growth, offering our users  a high speed mobile Internet network available at national level,” said Liliana Solomon, CEO, Vodafone Romania.
The company also indicated that service revenue decreased by 20 per cent year-on-year, for a total of 891.4 million Euro. Total revenue reached 921.5 million Euro, representing a decrease of 21 per cent as compared to the previous financial year. On a quarterly basis, service revenue decreased by 10 per cent in the three months ended March 31, 2010, compared to the previous quarter ended December 31, 2009, while the customer base increased by 67,000. “Even if the revenue decrease rate has slowed down quarter to quarter, we cannot yet talk about a recovery of the market. Vodafone will continue to invest in and to stay close to its customers, individuals and businesses, with the most useful and advantageous communication services”, added Liliana Solomon.   
EBITDA reached 396 million Euro compared to 527 million Euro in 2008/2009, which accounts for a 25 per cent year-on-year decrease. EBITDA margin reached 43% this financial year.
Total ARPU (Average Revenue per User) for the 12 months ended March 31, 2010 was 7.7 Euro, as compared to 9.8 Euro at the end of March 2009, corresponding to a decline of 21.3 per cent year-on-year. Mobile ARPU consolidated for the same period was 7.6 Euro, as compared to 9.7 Euro in the previous year, corresponding to a 21.1% decrease on the year.  


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