Tashkent, Uzbekistan (UzDaily.com) -- Revenue of the digital operator Beeline Uzbekistan in 2023 increased by 22.6% compared to the previous year and reached 3.15 trillion soums, according to the VEON report for 2023.

For the fourth quarter of 2023, revenue amounted to 920.5 billion soums, which is 29.7% more than the same period in 2022. VEON noted that Beeline Uzbekistan has demonstrated revenue growth of more than 20% for the second year in a row.

EBITDA of the company in 2023 amounted to 1.32 trillion soums, decreasing by 3.8%. In the fourth quarter, EBITDA amounted to 412.3 billion soums, which is 50.1% more than in the same period last year. The EBITDA margin in the fourth quarter was 44.8%, and at the end of the year - 41.8%.

The number of Beeline Uzbekistan subscribers at the end of the fourth quarter of 2023 amounted to 8.4 million, which is 0.3% less than the same period in 2022. The 4G user base reached 6.2 million (up 10.9% year-on-year), and 4G users now account for 73.1% of total customers (up 7.3 percentage points year-on-year).

In 2023, Beeline Uzbekistan continued to expand its 4G network throughout the country, launching more than 1,700 base stations. 4G coverage reached 85%.

The number of mobile Internet users increased by 5% and reached 7.6 million users. The volume of traffic per user increased by 26.5%, reaching 10.8 GB. Revenue from mobile Internet amounted to 2.18 trillion soums, an increase of 23.9% over the year.

The development of other company services has slowed down. The number of monthly active users of the Beepul payment service grew by 4.5%, the Beeline TV and Beeline Music platforms - by 2.7% (a year earlier the growth was 27% and 24%, respectively).

In October 2023, Beeline Uzbekistan launched the first digital operator OQ, which by the end of the quarter had almost 177 thousand monthly active users. OQ provides integrated digital entertainment and communication experiences.

Capital investments in the fourth quarter of 2023 amounted to 208.5 billion soums, the intensity of capital investments was 22.7%. Taking into account the acquisition of a new office building in 2022 and additional payments in 2023, the intensity of capex over the past twelve months increased by 1.6 percentage points and reached 21.6%.