Romtelecom’s expansion into the cable industry is reflected in the financial results of its subsidiary NextGen Communications.
According to figures obtained by ZF from Romania’s Trade Register, the company had a turnover of €1.728 million in 2009, as opposed to only €6,000 the previous year. Its gross loss meanwhile amounted to €1.55 million, compared to €287,000 in 2008.
NextGen was formed by Romtelecom in 2008 in order to compete with the market leaders RCS/RDS and UPC and has grown steady, principally through the acquisition of cable networks belonging to New Com.
It currently has over 160,000 subscribers to its cable TV, internet and telephony services and could post a turnover in excess of €15 million this year.