RCS & RDS, the biggest independent telecom operator in Romania, saw a 14% increase in its revenues in the first quarter of this year, up to EUR 165 million.

The growth was due to the advance on the cable television, landline internet and mobile phone segments.

The company’s net profit rose by 21.5% year-on-year to EUR 15.8 million, according to Digi Communications, the parent company of RCS & RDS.

The number of mobile phone subscriptions rose from about 2.84 million at the end of March 2016 to EUR 3.3 million in the first quarter of this year, a 16.4%. increase. The average income per client on the mobile phone segment went up to EUR 3.79 per month in the first three months of this year, up from EUR 3.32 per month in the same period last year.

The number of cable television subscriptions increased by 5.1% from 2.75 million in March 2016 to 2.89 million at the end of March 2017.

Last year Digi Communications, the group which includes RCS & RDS, recorded a net profit of EUR 11.8 million at a turnover of EUR 842.1 million. Digi Communications recently listed its shares on the Bucharest Stock Exchange after a EUR 210 million initial public offering (IPO). The company is currently valued at over EUR 880 million.

editor@romania-insider.com