# Over the past two years, the net profit of Euroset fell five times

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

Based on the report data 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, income from financial services was higher than income from commissions received from mobile operators and amounted to 4.7 billion rubles.

Due to the restructuring of the company 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, from 2012 to 2014 the net profit of Euroset of the company fell 5 times, and EBITDA - 4 times. However, in 2014, the company still managed to raise 13 billion rubles, so the company's capital became positive. Recall that the financial debt of the company amounted to 10 billion rubles.

Now let's take a quick look at the salaries of top management of the company. The average monthly income of the Euroset top manager 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 elite received about 600 million rubles.

After this short digression, it’s time to move on to the main question: what does Euroset intend to do next? The answer is simple: cut costs. And the main expenses of the company are rent payments for the area of ​​the company’s salons and, of course, remuneration, which at once makes up 80% of the total list of embezzlement. Representatives of Euroset say that in 2014 the company experienced small reductions.