PT reports solid first half

7 Sep 2004

Portugal Telecom (PT) has reported operating revenues of EUR2.92 billion for the first half of 2004, a rise of 7.2% over the corresponding year earlier period. EBITDA rose by 8.6% from EUR1.07 billion to EUR1.17 billion, whilst net income soared by almost 125% to EUR322.5 million. The operator’s net debt, including the investment of EUR238 million in the acquisition of treasury stock, fell by 22% to EUR3.1 billion.

Revenues from PT’s domestic wireline, pay-TV and broadband services rose by 1.5% year-on-year to EUR908 million, as a decrease in wireline traffic volumes was offset by increased pay-TV and broadband subscriptions. In the year to 30 June 2004 PT’s broadband subscriber base grew by 98% to 529,000. PT’s mobile arm saw its domestic customer base climb by 8.1% to 4.87 million, although monthly ARPU fell slightly from EUR24.7 to EUR23.8. Its Brazilian mobile venture Vivo had a buoyant twelve months, with total subscribers rising by 34.2% to 23.51 million.

Portugal, PT Móveis, PT Portugal (MEO)