A1 Telekom Austria Group said that its Bulgarian unit grew its earnings before interest and taxes (EBIT) by 11.6% year-on-year to 74.6 million euro ($90.4 million) in 2020, on the back of a rise in revenue.
A1 Bulgaria's earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by an annual 7.3% to 192.4 million euro last year, A1 Telekom Austria Group said in an annual financial statement on Tuesday.
The company's revenue increased by 5.7% to 513.8 million euro in 2020, with service revenue adding 6.3% to 402.3 million euro.
The rise in service revenue was driven by an 11.4% increase in fixed-line service revenue, which came in at 131.3 million euro last year. Mobile service revenue totalled 271 million euro, up 4%.
Capital expenditure in Bulgaria dropped 27.2% to 57.2 million euro in 2020, the group said.
A1 Bulgaria's wireless subscribers decreased to 3.75 million at the end of 2020, down 1.9% year-on-year.
In the fourth quarter alone, A1 Bulgaria's EBIT grew 25.6% to 16.8 million euro, despite a 0.6% decrease in revenue to 136.9 million euro.
A1 Bulgaria competes with Bulgarian Telecommunications Company (BTC), which operates under the brand name Vivacom, and Telenor Bulgaria, owned by Dutch-registered investment group PPF.