Telesp losses widen in second quarter

26 Jul 2005

Telesp Celular Participacoes reported net losses of BRL278.5 million (USD113 million) for the three months to 30 June, from a net loss of BRL67.3 million in the corresponding period of 2004. EBITDA dipped from BRL645.1 million to BRL416.6 million, while its EBITDA margin fell more than 13 percentage points to 21.4%. Telesp Celular, part of the Vivo brand owned jointly by Telefónica Móviles and Portugal Telecom, has been hit by intense competition in the Brazilian mobile market. The net loss was worse than the BRL148.6 million figure predicted by BB Investimentos, despite a 15.3% quarter-on-quarter rise in sales to BRL1.94 billion, and 5.6% growth on the second quarter of 2004.

Brazil, Telesp Celular Participaçoes