Vip Q1 2014 revenue at RSD 5.7 billion - Operator plans to invest EUR 23 million by year's end

Vip mobile generated a revenue of RSD 5.7 billion in Q1 2014, up 3 percent from the same period last year, and increased the number of clients by over 2 million, the company said in a release Thursday.

Revenues on a comparable base increased by 3% reaching RSD 5.7bn and EBITDA marked 6% increase to RSD 1.8bn versus 2013 first quarter. Also, over 2 million customers joined Vip mobile by the end of March 2014, so company’s market share reached 21.5%.

During Q1, out of strong growth of smartphones in Vip network, data use from residential customers increased by almost 80% compared to the same period last year.

According to Andreas Graf, director/CFO Vip mobile, during first quarter of 2014 the company continued to improve its network and IT systems in order to provide customers with the best mobile voice and data experience.

- During 2014 we will put special focus on our network improvement, in terms of coverage and modernization. At over 550 locations across Serbia we will upgrade our network with the latest generation equipment - said Graf.

As he added, VIP mobile will expand Vip 2G and 3G signal in smaller cities and along major roads where we will place over 320 new base stations. Their plan is to invest EUR 23 million by year’s end in further network development.

Vip mobile remains the biggest greenfield investor in Serbia having invested over EUR 807 million since November 2006, including the license fee.

Only during Q1 Vip has invested over EUR 6 million mainly in its own 2G and 3G network and customer support.