ArmenTel 3Q10 operating revenue down 5.3%

Armenian fixed and mobile operator ArmenTel, which trades under the Beeline banner of its Russian parent Vimpelcom, booked net operating revenues of USD48.7 million in the third quarter of 2010, down 5.3% when compared to the same period of 2009 which the firm attributed to an 11.3% decline in fixed line revenues in the reporting period. Adjusted OIBDA fell 17.7% year-on-year to USD22.4 million, with fixed line OIBDA down 21.3% and its mobile equivalent down 11.6% year-on-year, respectively. The adjusted OIBDA margin was 45.4% compared to 51.2% in 3Q09. On a more positive note, the telco said 3Q10 net revenue was up 9.4% quarter-on-quarter. ArmenTel said third-quarter mobile revenue of USD21.1 million was up 20% on the previous quarter. Mobile subscriptions reached 581,000 at the end of September 2010, up from 502,000 a year earlier, including 65,200 mobile broadband and dongle users. Blended ARPU was USD11.4 per month, down 16.8% from USD13.7 previously, and average MOU increased 6.6% to 286.7 minutes.