Davit Mamulaishvili, General Director of Silknet told "Forbes Week", that 2020 was a very difficult year. According to him, one of the problematic issues for the company is the tariffs operating on the market.
Davit Mamulaishvili notes, that they have invested many millions of dollars in the development of the network, but due to the fact that the income of mobile services in Georgia is in the national currency, it is difficult for them to withdraw their investments.
"We ask the regulator to make tariff adjustment due to the depreciation of the exchange rate so that the company can manage and maintain its performance. Of course, we understand the problems in general, but the business has its rules and vision, which are common for Georgia, as well as other countries – including the United States or Europe. We hold negotiations with the regulatory commission on these issues for a long time, but so far no results have been reached,” said Davit Mamulaishvili.
In the second quarter of 2020, Silknet's total revenue fell by 5.3% year-on-year, and in the third quarter by 4.6%. This decrease will have a negative impact on the company's financial performance.
