Telemig outlines migration costs

8 Mar 2004

Telemig Celular plans to invest between USD69 million and USD121 million in the next 18 months to migrate its TDMA infrastructure to GSM. The announcement came at the same time as the release of the cellcos 2003 financials, which showed that for the year ended 31 December 2003 it reported a 118% hike in net profit to BRL148 million on the back of a 15% rise in revenue to BRL1 billion. EBITDA for the year stood at BRL490 million, up 24.4%. Customers increased by 20.7% to BRL2.32 million while ARPU remained stable at BRL38.8.