Over the past two years, Euroset's net profit fell five times

According to data from the financial report of the parent company of Euroset Holding NV holding, Euroset's revenue for the last year amounted to about 72 billion rubles. For comparison, two years ago, this figure was 12% more - according to RBC magazine, revenue for 2012 was the largest in the company's history, it amounted to 82.2 billion rubles. For this period of time, both commissions received from mobile operators and revenues from the sale of various goods, the main source of Euroset revenue, have decreased.

Based on the report for the last two years, profits from the sale of various gadgets decreased by 7%. The only thing that can please Euroset is the profit from the sale of financial services, which turned out to be the only profitable segment for the period from 2012 to 2014. Last year, revenues from financial services were higher than revenues from commissions received from cellular operators, and amounted to 4.7 billion rubles.

Due to the restructuring of the company, conducted in 2009-2010, the profitability of Euroset has increased. EBITDA increased to 9.2 billion rubles. However, due to the fact that later there was a decrease in commission payments from VimpelCom and MegaFon, in the period from 2012 to 2014, the net profit of the Euroset of the company fell 5 times, and EBITDA - 4 times. However, in 2014, the company still managed to raise 13 billion rubles, thus the company's capital became positive. Recall that while the financial debt of the company amounted to 10 billion rubles.
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Let us now take a quick look at the salaries of the top management of the company. The average monthly income of the top manager of Euroset in 2008 alone amounted to more than 4 million rubles. Then the board consisted of 12 people, and with the help of simple mathematics we can calculate that in 12 months the whole top received about 600 million rubles.

After this small lyrical digression, it's time to move on to the main question: what is Euroset going to do next? The answer is simple: reduce costs. And the main expenses of the company are rental payments for the salons of the company and, of course, remuneration, which is 80% of the total list of wastes. Representatives of Euroset state that the company’s staff in 2014 had a slight reduction.