Yerevan, 16.June.2024,
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Ucom showed high and stable growth in fixed and mobile communications in 2023


In 2023, Ucom achieved a high level of stable growth in both fixed and mobile communication services.

According to the five-year strategy approved last year, the company's primary objective was to expand fixed and mobile networks, as well as to enhance the quality of communications, ensuring that all residents of Armenia have access to converged communication services—comprehensive packages encompassing mobile communications, mobile internet, fixed internet, and television. Presently, more than half of the company's fixed-line subscribers utilize converged services, receiving all communication services from Ucom.

In particular, in 2023, converged communication services became accessible in the cities of Ijevan, Goris, Gavar, and Sevan.

The company's total income in 2023 amounted to 38.2 billion drams, representing a 5.5% increase compared to 2022.

At the same time, the company's income from fixed-line communication services in 2023 totaled 16.1 billion drams, surpassing the 2022 figure by 7.9%.

The number of fixed-line subscribers in 2023 reached 133,713, marking a 6% increase over 2022.

Additionally, Ucom exhibited the most rapid growth in the number of mobile subscribers in the market in 2023 compared to 2022, with a growth rate of 9.2%. By the end of 2023, Ucom boasted 713,151 active mobile subscribers. The company's income in this segment amounted to 16.1 billion drams, an 8.1% increase over the previous year.

Operating income before depreciation and amortization (OIBDA) totaled 16.8 billion drams in 2023, reflecting a 6.6% increase from 2022. The operating margin was 43.8%.

Furthermore, the company contributed 12.4 billion drams to the state budget in taxes for the year 2023.

Technical Results

In order to modernize its networks, Ucom increased its capital expenditures by 26% in 2023. Specifically, upgrades have been made to equipment and networks, and management systems, security procedures, and software components have been updated.

The fixed network capacity has been increased, and adjustments have been implemented to guarantee reliable communications and expedited recovery following failures.

In Yerevan, the LTE mobile network infrastructure was upgraded to increase the coverage area and network capacity.

Moreover, within the capital, the FTTH (Fiber to the Home) optical network underwent expansion and quality enhancement.

"A year ago, I was entrusted with the management of this company, and during that time, we developed an ambitious five-year strategy and development concept, which was accepted and approved by the board of directors. Over this year, our team has diligently worked to implement the strategy. We have already achieved significant success; our network is expanding and improving daily. We are collaborating with globally renowned companies to ensure the technical modernization and enhancement of our network. We have set lofty goals for ourselves and are deeply committed to achieving them," stated Ralph Yirikian, Director General of Ucom.

International Certificates

In 2023, the company successfully underwent an international certification audit and obtained a certificate of compliance with the quality management system (QMS) ISO 9001.

Furthermore, following extensive and meticulous examination alongside international experts, Ucom received an ISO/IEC 27001 certificate in 2023, affirming the standards of the information security management system.

Human Resources

As of the end of 2023, the company employed approximately 1,400 individuals. Throughout the year, 396 new employees joined the company, while 195 employees received promotions. In total, 220 training and advanced training courses were conducted for company employees.

Social Responsibility

As a tradition, Ucom continued to implement its corporate social responsibility programs throughout 2023. The company provided Internet communications to the Komitas Museum-Institute and various educational institutions. Furthermore, access to the network was extended to several sporting and cultural events. Additionally, Ucom sponsored numerous scientific and educational gatherings, including the annual Silicon Mountains Tech Summit and the 18th International Microelectronics Olympiad.

In line with its environmental initiatives, the installation of solar panels was initiated in the villages of Goghtanik, Aghavnadzor, and Rind.

In 2023, support was extended to compatriots forcibly displaced from Artsakh. In collaboration with World Vision Armenia, displaced families from Artsakh residing in three regions of Armenia—Syunik, Gegharkunik, and Tavush—were furnished with warm clothing, bedding, heaters, and other essentials. This project received funding with contributions from Ucom employees.

Furthermore, Ucom participated in a joint charitable endeavor with the Galaxy group of companies and the Armenian Red Cross. This initiative facilitated the distribution of 100 tons of humanitarian aid, in the form of food packages, to 5,000 families from Artsakh.

Additionally, children from Artsakh residing in the Tavush marz were presented with New Year gifts.

Future Plans

During the presentation of the company's results, Mr. Yirikian also outlined future plans. Specifically, he highlighted agreements signed with Nokia and MediaKind, a global leader in media technologies and television.

In partnership with Nokia, Ucom aims to modernize and expand its mobile network, preparing it for the transition to 5G across Armenia. Additionally, Nokia will update the core infrastructure of Ucom's fixed and mobile network and introduce a high-capacity IP transport network.

Through collaboration with MediaKind, Ucom plans to introduce a technologically advanced TV platform, expanding beyond its current IP TV network.

A digital transformation process is scheduled to enhance the customer experience for subscribers. Furthermore, a new converged billing system will be selected and implemented.

Moreover, the company plans to issue bonds in the near future.

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