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Moldtelecom net profit in 2018 amounted to 59.01 million lei, decreasing by 4.6% versus the previous year (61.85 million lei)

Moldtelecom net profit in 2018 amounted to 59.01 million lei, decreasing by 4.6% versus the previous year (61.85 million lei)

According to the published annual financial statements of the company, its sales in 2018, compared with 2017, decreased by 4% - from 1 billion 770.8 million to 1 billion 700.3 million, and the cost of sales decreased by 5.3% - from 1 billion 468.1 million to 1 billion 390.7 million lei. Last year, the company reduced distribution expenses from 203.3 million to 189.68 million lei (-6.7%), as well as administrative expenses - by 12.6% - to 58.3 million lei. Last year, Moldtelecom's assets decreased from 5 billion 948.29 million to 5 billion 828.97 million lei (-2%). In particular, long-term assets amounted to 5 billion 392.3 million lei (-2.4%), and current assets - 436.59 million lei (+ 3.2%). The report notes that in general, the company's operating income amounted to 1 billion 768.4 million lei, which is 3.6% more versus 2017. The main activity of Moldtelecom is the provision of electronic communications services with a share of 96.1 % in the total sales structure for 2018. The share of revenues received as a result of the withdrawal of current assets accounted for 1.4% and operational leasing activities - 1.1%. The level of profitability from sales (percentage ratio between total profit and sales volume) in 2018 was 18.2%, which is 1.1 percentage points more than a year earlier. Return on assets increased by 0.03 percentage points and amounted to 1.32%, return on equity remained at the level of 2017 - 1.4%. The authorized capital of the company is 984.19 million lei. Moldtelecom is the national landline telephone operator. The company also provides mobile services under the Unite brand and Internet and cable TV access services. 100% of the company’s shares belong to the state. // 21.05.2019 - InfoMarket.

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