Silknet published the financial report for 1H2021. According to the document, the company's total revenue is GEL 197.8 million, which is 6.95% more compared to the same period of the last year.
At the same time, in the first half of the year, "Silknet" earned a net profit of GEL 17.8 million, while in the same period of 2020, it had a loss of 39.6 million.
According to the components, Silknet's revenues are distributed as follows:
•Revenue from mobile connection - GEL 93 million, of which GEL 49.8 million was received for outgoing calls and GEL 36.6 million - from mobile internet. The company has a total of 1.69 million subscribers;
•Fixed internet - GEL 50.2 million. The company has 291 thousand subscribers on the market;
•Pay TV (Broadcasting Transit) - GEL 23.4 million. The company has 241 thousand subscribers on the market.
Silknet's improved financial performance is driven by an increase in revenue from its subscribers. In particular, as of June 2021, the monthly amount paid by one subscriber in the Silknet mobile network was GEL 9.6, while this figure was GEL 8.9 in 2020. The average fixed internet subscriber income was GEL 28.6 per month, which was GEL 27.4 in 2020.
According to the financial report, Silknet earned a total of GEL 20.3 million from interconnection, roaming, infrastructure leasing and wholesale internet.
According to the financial report, major expenditures for Silknet in the first half of the year were depreciation and amortization expenses, which amounted to GEL 58 million, including financial expenses amounted to GEL 45.8 million. The company paid GEL 31 million for the salaries and benefits of the employees, while it spent GEL 21 million for the purchase of various services.
As of June 30, 2021, Silknet's assets amounted to GEL 838.7 million, while the company's total liabilities amounted to GEL 880 million. Among them, the main liability is USD 200 million Eurobonds that the company listed on the stock exchange in April 2019.
