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Nov 22, 2019

B.T.L.’s Net Revenue Decreases by 24%

The annual general meeting of B.T.L. took place on Thursday night at the Biltmore Plaza, Belize City.  The utility had a record year in terms of gross revenues, which surpassed the 2018 figures by six million dollars due largely to the expansion of the fiber to house network.  On the downside, shareholders learnt that net revenue went down to seventeen million dollars, that’s a twenty-four percent decrease. So what’s ahead for B.T.L.? The future is in digital revenue streams, says the C.E.O.  Here is Hipolito Novelo with a report.

 

Hipolito Novelo, Reporting

At the thirteenth annual B.T.L. general meeting, shareholders were informed that for fiscal year 2018/2019 the company grossed one hundred and sixty five million dollars in revenue- an increase of six million and reportedly the largest gross revenue in its history.

 

Mohan Mahase

Mohan Mahase, Chief Financial Officer, B.T.L.

“This rapid expansion of the company’s revenues is in large part due to the successful deployment of our fiber to the home network and the launched of our fixed broadband services offering DigiNet. By the close of the year we had some thirty thousand subscribers on this network.”

 

While the figures are attractive, B.T.L.’s true revenue is much less. At the end of the fiscal year, B.T.L.’s net revenue was seventeen million dollars, a twenty four percent decrease. According to the company’s full year report, the expanded revenue growth was surpassed by increases in its operating cost of twelve point three million dollars.

 

Mohan Mahase

“The two main reasons for the higher operating cost were as the C.E.O. would have indicated the fact that we are running two networks. We continue to run our copper network and we continue to run our fiber to the home network. The other reasons would have been increase in purchases in bandwidth capacity to meet our subscribers’ ever increasing demand for data.”

 

And in 2017 B.T.L. realized that its outdated copper network could no longer support the company’s improved services.

 

Ivan Tesecum, C.E.O., B.T.L.

“And so in 2017 we proceeded to start a fibre to the home construction network and we are happy to say that as of September 2019 we have now completed that project. Now, we are the foundation of whatever we want to do is built in that fibre to the home network. There is nothing faster than that. There is nothing more modern than that. You have it here in Belize and you can boast of that.”

 

Ivan Tesecum

According to the C.E.O., the recently rebranded company covers about ninety percent of residential homes and businesses. Tesecum told shareholders that the telecommunication industry is going through a dynamic and challenging time. While predictions were made relating to the market conditions, no one could have predicted the depth and intensity at which the company now has to change. And that change will require much more than just state of the art infrastructure.

 

Ivan Tesecum

“The competition is not only local. The competition really is bigger than that. It is the big companies of the world, the multibillion dollars companies of the world that we are competing with; the Facebook, the Instagram and Whatsapp of the world. That’s our competition and so we had to change our mindset.  The acceleration of change is crazy. It is beyond belief but that is our job to ensure that your company is able to meet and address those market challenges.  Knowing the fact that we have new technology, we rebranded to DIGI and if you look at the logo it has the infinity sign. That means the opportunities are endless. That is what this company is all about. We realized that our people, our staff they are the foundation on which we will be successful. No matter how much equipment you have, no matter the state of the art, latest equipment you have without our staff being leaders and being developed capable then that equipment cannot run itself.”

 

And with the support of a competent staff, ambitious strategic goals and key infrastructure in place, B.T.L. is going beyond your imagination, towards a digital revenue stream.

 

Ivan Tesecum

“We realize that we need to bring in new revenue streams and these revenue streams will all be new digital revenue streams.  We have to begin looking at revenue streams outside of what you would consider your core telecom revenues so now we need to look at other business models, at other different ways in ensuring revenue streams remain constant.”

 

Reporting for News Five, I am Hipolito Novelo.


Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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