William Malcolm

Vodafone Czech Republic Sees Profit Decline In Full Year Results

In the fiscal year ending in March this year, Vodafone Czech Republic reported a profit of 1.25 billion crowns, which is 14 percent less than in the previous period. The company transferred the profits to its parent group Vodafone Group. According to company’s annual report and the Commercial Register.

In the payment of the dividend, the Czech Vodafone sent the parent company 485 million crowns from retained earnings from previous years. In total, he paid the group almost 1.74 billion crowns.

The number of mobile customers fell by 48,000 to 3.94 million at the end of the fiscal period. By contrast, the number of fixed high-speed Internet connections increased by 29,000 to 589,000. The share of mobile users with a contract increased by 2.7 percentage points year-on-year to 74.8 percent.

“Last year was marked by an increase in data traffic of more than 70 percent, but also a decrease in roaming revenues by about 70 percent. At the same time, we invested in infrastructure, including expanding 5G network coverage, which now reaches 35 percent of the population. The largest 5G network in the Czech Republic, Vodafone’s investments in the development and purchase of infrastructure reached a total of 24 billion crowns in five years, “spokesman Ondřej Luštinec told ČTK today.

At the end of March, Vodafone was also the first domestic operator to switch off the older 3G network, which was used by about one percent of customers. He wants to use the released frequencies to build 5G or increase the capacity of LTE. For the 5G, the operator will also use frequencies in the 700 and 3500 MHz bands from a recent auction.

Vodafone belongs to the multinational Vodafone Group. Two years ago, he bought the largest cable network in the Czech Republic, UPC, which is within reach of about 1.5 million households.