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BTL Hosts 12th Annual General Meeting and its worth ½ Billion dollars Print E-mail
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Friday, 05 October 2018 00:00

The Belize Telemedia Limited (BTL) hosted its 12th Annual General Meeting (AGM) Press Conference at their Digi Regent Street Store on Tuesday, October 2, 2018. Company leaders, including CEO Rochus Schreiber and CFO Ivan Tesecum, provided comprehensive details of the company’s 2017-2018 fiscal year. Persons in attendance, including shareholders and other invited guests, who were presented with numbers by the CFO which showed the evidence of the company’s success.

According to the company’s Chief Financial Officer, Ivan Tesecum, the company has achieved record heights. “This year for BTL was a record year, yes- a record year in gross revenues as we hit the largest revenues for BTL ever in history at $159 million. That was a growth of $2.1 million or a 1.3% increase. Coupled with that, we have also, and we continue, with strong operational cash flows of $71.5 million as is measured by the EBITDA, or Earnings before Interest, Taxes, Depreciation, and Amortization which shows how strong the company generates its cash.”

He also conveyed the company’s yearly accomplishments, as compared to the previous fiscal year, and stated that mobile, broadband, and DigiNet services were the contributing factors for the company’s surplus. “The area that we look at is internet; and this is very astounding and the reason for that is because last year, we had reported a decrease in internet revenues. This year, we are reporting an increase of 1.5 (%). So we have swung that around mainly due to the fiber home expansion that we spoke about.”

He then continued with how else the company was proactive in generating revenue. “And then we look also, we have to diversify our revenue streams. BTL continues to be in a very competitive market and, as we know, we continue to offer value for our customers. But we also need to find new revenue streams to continue growing the company. This year, we had new revenue streams of about $3.4 million. That is the resale of bandwidth to wholesalers. And we had a $2 million increase also in terms of Microsoft sales.”

But like Tesecum continues, it cannot be argued that their 4G LTE services has been a bulk of their revenue. “However, our largest growth was seen, and we continue to see, from the strongest, the best, the largest, the biggest, 4G LTE advanced mobile network. That saw an increase of $4.1 million over last year. And that is driven mainly by the usage patterns of customers which continues to see an increase in data.”

The company expects that the next fiscal year will be just as or even more successful especially due to its $96 million fiberization of its network and expanded services to neighboring countries.

The net worth of the company, according to CEO Schreiber, is currently $0.5 billion dollars.