BUSINESS FOCUS - LEASING - BUSINESS DIARY

EuroTel increases customer base

THE SLOVAK mobile telecommunications company EuroTel recorded a net income of Sk12 million (€300,000) in the fourth quarter of 2003, as compared to a net of Sk52 million (€1.27 million) in the fourth quarter of 2002.

For the whole year of 2003, the company reached a net profit of Sk1.09 billion (€26.8 million), as compared to a net profit of Sk586 million (€14.39 million) for 2002.

EuroTel reported earnings before interest, taxes, depreciation, and amortisation of Sk4.43 billion (€108.7 million) for 2003, a 40 percent improvement over earnings of the same type of Sk3.16 billion (€77.6 million) for the same period of 2002.

It ended the fourth quarter of 2003 with 1,613,476 customers, a 24 percent increase over its customer count as of December 31, 2002.

EuroTel CEO Robert Chvátal said: "Throughout 2003 and particularly in the fourth quarter of last year we were able to do a number of things right. We accelerated the growth of our customer base towards the end of the year and we believe this resulted in the growth of our market share of active customers."

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