In 2023, Cablenet experienced remarkable growth, reporting a 16.2% increase in revenue, totaling €74.3 million. The company expanded its subscriber base by 29% and won the Glotel Award for Purple Max Internet, solidifying its position as a leading telecommunications provider in Cyprus.
How did Cablenet achieve substantial growth in 2023?
Cablenet achieved substantial growth in 2023 by:
– Reporting a 16.2% increase in revenue, amounting to €74.3 million.
– Expanding the subscriber base by 29%, with a 52% growth in the mobile division.
– Completing a migration to a proprietary 4G frequency spectrum.
– Expanding fiber-optic network coverage to 228,000 households.
– Winning the Glotel Award for Purple Max Internet’s excellence.
Impressive Financial Performance
Cablenet, a prominent telecommunications provider, has outperformed expectations, marking a year of significant financial growth. In 2023, the company’s revenue soared to €74.3 million, a robust 16.2% increase from the €63.9 million reported the previous year. This surge in revenue is a direct result of the company’s strategic initiatives, which led to a 29% rise in its overall subscriber base.
The substantial growth in Cablenet’s mobile division is particularly noteworthy. By the end of the year, the subscriber count had jumped by an impressive 52%, with both contract and prepaid subscribers surpassing the 142,000 mark. This achievement solidifies Cablenet’s position as the fastest-growing mobile network within the Cypriot market.
Unwavering Dedication to Excellence
Cablenet’s CEO, Mr. Yiannos Michaelides, has articulated the company’s unwavering commitment to generating strong returns for shareholders and delivering exceptional value to its customers, employees, and stakeholders. He proudly acknowledges that the company has not only made consistent progress towards these goals but has accelerated its growth despite facing headwinds.
Technological Innovations and Awards
In the realm of Mobile Telephony, the migration to a proprietary 4G frequency spectrum was successfully completed in 2023. The company made significant investments to enhance coverage and capacity. These advancements, coupled with upgraded tools for mobile network design and monitoring, have been pivotal in driving the mobile division’s growth.
The Fixed Services sector also witnessed substantial investments from Cablenet, particularly in the expansion of its fiber-optic network. By the year’s end, network availability encompassed approximately 228,000 households—a sizeable increase from the 205,000 households covered in the previous year. This expansion is part of a broader strategy with the ambitious goal of extending coverage to 80% of households in Cyprus.
Purple Max Internet, a flagship product of Cablenet, has been internationally recognized for its excellence. In collaboration with its strategic partner Plume, Cablenet triumphed at the Glotel Awards, securing the title in the Most Innovative Operator Cloud Offering category. These recognitions reflect the company’s dedication to staying at the forefront of technological innovation in the telecommunications industry.
Leading Customer Satisfaction
Customer satisfaction remains a top priority for Cablenet, as evidenced by its leading position in overall customer satisfaction and Net Promoter Score (NPS) in the Cypriot market. This achievement is the result of the company’s continuous efforts to improve service quality and ensure the professionalism of its operational teams.
The CEO reiterates the company’s strategic objective to maintain a growth trajectory and secure significant market shares in all nationally deliverable services. Cablenet’s commitment to its slogan “For a Better Life” signals its aspiration to translate commercial and technological innovations into tangible improvements for its customers’ lives.
Cablenet’s Chairman, Mr. Nikhil Patil, echoes these sentiments, expressing gratitude to the team for their hard work and dedication. He emphasizes the company’s resilience and innovation-driven growth, underscoring the commitment to fostering Cablenet’s success well into the future.
How did Cablenet achieve substantial growth in 2023?
Cablenet achieved substantial growth in 2023 by:
– Reporting a 16.2% increase in revenue, amounting to €74.3 million.
– Expanding the subscriber base by 29%, with a 52% growth in the mobile division.
– Completing a migration to a proprietary 4G frequency spectrum.
– Expanding fiber-optic network coverage to 228,000 households.
– Winning the Glotel Award for Purple Max Internet’s excellence.
What significant financial performance did Cablenet achieve in 2023?
In 2023, Cablenet experienced remarkable financial growth with revenue reaching €74.3 million, marking a 16.2% increase from the previous year. The company’s subscriber base also expanded by 29%, with mobile division subscribers growing by 52%.
What technological innovations did Cablenet introduce in 2023?
Cablenet successfully completed the migration to a proprietary 4G frequency spectrum in 2023, enhancing coverage and capacity for its mobile division. Additionally, the company expanded its fiber-optic network coverage to 228,000 households, aiming to cover 80% of households in Cyprus.
How did Cablenet prioritize customer satisfaction in 2023?
Cablenet remains committed to ensuring high customer satisfaction by continuously improving service quality and professionalism within its operational teams. The company leads in overall customer satisfaction and Net Promoter Score (NPS) in the Cypriot market, reflecting its dedication to providing exceptional service to its customers.
