Cablenet Revenue Up 16.2% with Subscriber Growth Surge

Cablenet Celebrates Record Year with Significant Growth in Revenue and Mobile Subscriptions

Cablenet, a leading telecommunications provider in Cyprus, has reported an impressive 16.2 percent increase in revenue for the year 2023, reaching €74.3 million up from €63.9 million in the previous year. This remarkable growth is a testament to the company’s expanding subscriber base, which saw a 29 percent increase overall.

The company’s mobile telephony service has been particularly successful, with a 52 percent surge in its subscriber base, now boasting over 142,000 contract and prepaid subscribers. This growth has earned Cablenet the title of the fastest-growing mobile network in the Cypriot market. Additionally, revenue from mobile services alone jumped by 54 percent.

Cablenet’s CEO, Mr. Yiannos Michaelides, expressed pride in the company’s achievements, emphasizing Cablenet’s commitment to delivering strong returns for shareholders and exceptional value to customers, employees, and stakeholders.

In the realm of fixed services, Cablenet has continued to invest in expanding its network through fiber optics, now offering coverage to approximately 228,000 households across Cyprus. The company’s flagship internet service, Purple Max Internet, has received global recognition for its innovative approach and superior user experience, winning an award at the prestigious Glotel Awards and receiving nominations for other global telecommunications accolades.

Cablenet’s dedication to customer satisfaction has not gone unnoticed. Independent market research conducted by CYMAR has ranked Cablenet first in overall customer satisfaction and net promoter score within the Cypriot telecommunications market.

Mr. Nikhil Patil, Cablenet’s Chairman, acknowledged the company’s remarkable growth amidst challenges and credited the team’s dedication for the success. He reaffirmed Cablenet’s commitment to future success based on a strong foundation and strategic vision.

As Cablenet continues on its growth trajectory, it remains focused on delivering world-class service and exploring ways to enhance the lives of Cypriot consumers and businesses sustainably and efficiently.

For more updates on Cablenet’s journey and telecommunications news in Cyprus, stay tuned to Cyprus Mail on Google News.

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