"Vip Mobile" marked 88,7 million euros business loss in Serbia in 2008

Mobile telephony operator "Vip Mobile" has announced today (February, 25th, 2009) that in 2008 it marked a business loss of 88,7 million euros, which is 22,2% higher than in the last year.

As it stands in the company's announcement, the incomes were increased by 3,3 times and sum to 59 million euros, and the loss before interest rates, taxes and amortization (EBITDA) was 37,2 million euros, which is 28,7% less than in 2007.

"Vip Mobile" which is a member of "Mobilkom Austria", increased the number of their clients for 78,4% durin the last year in Serbia, summing it up to 907.900 accounts, having a 91% market share at the end of the year, comparing to 5,8% which it took on in 2007.

Last year, VIP invested 92,8 million euros in expansion of their network and in the signal which is now available throughout the country.

President of the Management board, Aleksandar Sperl stated that "in 2009 "Vip" would continue to focus on its users, on expansion of production portfolio and on increase of users database, with further development of its own high quality network".

Financial director of "Vip", Roland Heidner stated that "during the first few years of its activities, Vip was planning to invest up to 250 million euros".

In the announcement stands that in the end of 2008, "Vip" has had more than 600 employees and that thanks to the cooperation of "Vip", around 100 local companies have opened up 1.500 working places.

"Mobilkom Austria" made income of 3,39 billion euros in 2008 and business profit of 689,3 million euros.