Telecom Armenia OJSC, known by its trademark Team Telecom Armenia, has recently released its financial and operational data for the 2nd quarter of 2024. The company’s commitment to transparency and accountability is evident in the detailed presentation of its technical, economic, and financial performance indicators. The report highlights significant growth in both the number of subscribers and revenue across its mobile and fixed communication services.
Mobile Communication:
During the 2nd quarter of 2024, Telecom Armenia generated a revenue of 4.89 billion AMD from mobile communication, representing a 5.5% increase compared to the 1st quarter of the same year. This figure also surpassed the revenue from the 2nd quarter of 2023 by 5.0%. The company reported a total of 1,051,679 mobile communication subscribers by the end of the 2nd quarter of 2024.
The number of mobile communication subscribers saw a notable increase, with a 1.5% rise compared to the 1st quarter of 2024 and an 8.9% increase compared to the 2nd quarter of 2023. Additionally, the number of subscribers using mobile Internet services showed steady growth, reaching 761,137 in the 2nd quarter of 2024. Revenue from mobile Internet services amounted to 2.54 billion AMD, reflecting a significant increase compared to the previous quarter and the same period in 2023.
Telecom Armenia’s market share in the mobile communication sector stood at 25.9% as of the 2nd quarter of 2024, solidifying its position as a key player in the Armenian telecommunications market.
Fixed Communication:
In the 2nd quarter of 2024, Telecom Armenia reported a revenue of 3.93 billion AMD from fixed-line services, marking a 5.2% increase compared to the same period in the previous year. The company also noted a growth in the number of connected Internet subscribers, reaching 96.9 thousand by the end of the 2nd quarter of 2024.
With a market share of 32.3% in the fixed Internet sector, Telecom Armenia continues to expand its reach and provide high-quality services to its subscribers. The company’s strategic project involving the construction of a high-speed optical fiber network with a bandwidth of 25 Gb/s has shown promising results, attracting new subscribers and ensuring a high level of customer satisfaction.
Hayk Yesayan, CEO of Team Telecom Armenia, expressed optimism about the future growth prospects of the company, emphasizing the importance of the new fiber network in driving revenue growth and enabling the launch of advanced mobile services across Armenia.
Telecom Armenia OJSC has a rich history in the telecommunications sector, dating back over a century as the first telecommunications network in Armenia. The company’s commitment to providing cutting-edge technologies and high-quality services to both individual and corporate subscribers underscores its position as a leader in the industry.
As the first telecommunications company in Armenia to conduct an initial public offering (IPO), Telecom Armenia has further solidified its commitment to transparency and openness. The company’s shares are listed on the Armenian Stock Exchange, reflecting its dedication to public accountability and investor confidence.
In conclusion, Telecom Armenia OJSC’s performance in the 2nd quarter of 2024 demonstrates its continued growth and success in the telecommunications market. With a focus on innovation, reliability, and customer satisfaction, the company is well-positioned to meet the evolving needs of its subscribers and drive further expansion in the industry.