Eurotel Praha 1996 Results Prove Wireless Success in Czech Republic
April 11, 1997
Prague, The Czech Republic - For Bell Atlantic's wireless investment
in the Czech Republic, 1996 financial and operational results led
EuroTel Praha to its most successful year since it began service in
Revenues from operations reached nearly (Czech crowns) CZKc4.64
billion (approximately US$171 million) in 1996 compared with 1995
CZKc2.98 billion - a growth of CZKc1.66 billion. The company had a
net profit of CZKc435 million.
EuroTel Praha invested CZKc2.65 billion in its network infrastructure
in 1996, CZKc1.73 billion higher than in 1995 CZKc924 million.
The company's combined EuroTel Classic (analog service) and EuroTel
GSM Global (digital service) customers nearly tripled in 1996 to
approximately 160,000 . As of March 31, 1997, EuroTel Praha had
204,000 customers - EuroTel Classic with 64,500 customers and EuroTel
GSM Global with 139,500 customers.
EuroTel's analog service covers 96 percent of the licensed territory
in the Czech Republic and 98 percent of its population. The company's
digital service provides service to 79 percent of the country's
During 1996, EuroTel Praha extended roaming agreements to 44 carriers
in 31 countries, including Australia, Austria, the Czech Republic,
Germany, Greece, Hungary, and Italy.
"Customer demand for mobile phones surpassed our initial estimates for
1996," said Chief Executive Officer and Managing Director of EuroTel
Praha, Mac Allman. "In fact, the Czech Republic is now among the
fastest growing wireless markets in Europe."
EuroTel Praha spol. s.r.o. is a joint venture between Czech state
telephone company SPT Telecom, a.s. (51%), and partnership Atlantic
West B.V. (49%) which is owned equally by Bell Atlantic and U S WEST
Bell Atlantic Corp. (NYSE: BEL) is at the forefront of the new
communications, entertainment and information industry. In the
mid-Atlantic region, the company's telephone company subsidiaries are
the premier providers of local telecommunications and advanced
services. Globally, it is one of the largest investors in the
high-growth wireless communication marketplace. Bell Atlantic also
owns a substantial interest in Telecom Corporation of New Zealand and
is actively developing high-growth national and international business
opportunities in all phases of the industry.