Silknet Finishes 1H20 in Losses of GEL 40 million

Silknet has published the 1H20 indicators – incomes of GEL 184.9 million and losses of GEL 39.6 million. The company incomes have slightly increased, up GEL 870,000 year on year.

At the same time, losses have shrunk essentially - down 41% year on year (GEL 56.03 million in 2019). Incomes from outgoing calls marked GEL 49.6 million, landline internet – GEL 49.4 million, cellular services – GEL 30.68 million, PayTV – GEL 22.3 million, interconnection services – GEL 10.3 million, roaming – GEL 1.3 million. According to the Silknet report, the telecommunications sector turned out one of the steady sectors amid the pandemic.

The longer time spent at home signifies a growing audience for PayTV and other services. “The mentioned changes in consumer behavior are of a temporary character, however, the management believes that accelerated digitalization models will remain and they will expand our potential in long-term period”, the report reads.

The group carries out monitoring of the growing internet traffic and if necessary, the company will renew the equipment and expand the traffic capacity of the international channel.