Vodafone Ukraine provides business update in light of COVID-19 pandemic
Vodafone Ukraine demonstrated its readiness to the changing economic situation in the country by taking effective measures to maintain the dynamics and profitability of its business.
Despite the introduction of quarantine in Ukraine as of March 12, Vodafone has maintained business continuity by continuing to fulfill obligations to its customers, partners, suppliers and investors.
In addition to ensuring the full operability of its infrastructure and continuity in providing services, Vodafone has continued to invest in expanding its network capacity and 4G roll-out during the quarantine period, to meet increasing demand for services, in particular for access to high-speed Internet. Recently measures have been taken to raise network capacity in all major regions of Ukraine.
This became possible due to the business sustainability of Vodafone Ukraine and the high level of automation of its business processes and operations, which has enabled the company to deal with the influence of external circumstances.
Vodafone Ukraine successfully adapted to the new market environment, retained jobs, and transformed operations to maintain revenues, even though some stores were closed. Vodafone Ukraine's efforts have to date have maintained revenues in a sustainable range and maintained high debt-service capacity.
“Vodafone Ukraine would like to confirm the principles of its pro-active debt management strategy. In line with its objectives, the Company will, on an ongoing basis, consider opportunities to manage its debt portfolio, opportunistically and subject to market conditions. The Company’s debt management strategy extends to both its private and public debt instruments and includes inter alia open market operations and tenders. The Company remains committed to maintaining a robust liquidity position as well as a sustainable debt leverage profile”, - said Olga Ustynova, CEO of Vodafone Ukraine.
The company continues to deliver services to its clients. Vodafone’s equipment supports remote administration and monitoring with no need for physical presence of staff. Digital contact centers provide customers service in 24/7 mode. The company does not expect significant delays in orders from suppliers; it has created what it considers to be a sufficient safety margin to maintain operations during quarantine. In case of quarantine prolongation, the company is ready to revise its budget expenses in the current period.
During the crisis, the company quickly shifted its focus to promoting goods and services most requested by clients during the quarantine.
The company has also made every effort to help the country cope with the epidemic. The total amount of financial assistance provided in Ukraine from Vodafone Ukraine and the shareholder company Neqsol Holding amounted to UAH 33 million.
The company supports Ukrainians who remain in quarantine at home, giving them free access to educational and entertainment services: Vodafone Press, Vodafone Music, Bookmate, BeFit. It broadcasts school lessons for free through the Vodafone TV service. During quarantine, Vodafone subscribers can activate the Online Pass service for free to communicate in popular social networks and messengers. Vodafone provides additional Internet packages and minutes for calls to medical workers, as well as to Ukrainians who find themselves in a difficult situation, including in roaming.
The company also provides ongoing information support to citizens on critical issues related to government measures to fight COVID-19.