“Kyrgyztelecom ended 2024 with a profit of 107.7 mln KGS

Kyrgyztelecom OJSC published financial results for 2024. The company ended the reporting period with net profit of 107.7 mln KGS. Revenue amounted to KGS 2.3 bln, and operating expenses amounted to KGS 2.2 bln.

The main source of revenue was Internet and IPTV services, which accounted for 57.8% of the total revenue. Traditional communication services, including local, long-distance and international telephony, also retain a significant share (17.2%). The Company notes a slowdown in the rate of decline in revenues from fixed telephony: while in previous years the decline amounted to 9-10% annually, in 2024 it has decreased to 1%.

In 2024, Kyrgyztelecom transferred 727.3 million KGS to the budget, including 472.3 million KGS of taxes and 225.03 million KGS of social contributions. In addition, as part of the strategy to improve the welfare of employees, the company increased staff salaries by 10.9%.

Compared to 2023, net profit decreased by more than six times (in 2023 it amounted to KGS 668.3 mln). However, almost all of the profit was provided by a one-time transaction on the sale of 100% of shares of the telecom operator “KT Mobile” for 616.6 million KGS. If we compare the figures with 2022, the company's net profit increased by more than 30 mln KGS (from 76.7 mln KGS).