Poor Q2 results for cellcos

2 Aug 2005

According to a report by AE Brazil, Brazil’s main mobile operators – Vivo, Oi, Claro, Brasil Telecom GSM and TIM – have reported disappointing results for the second quarter. Although combined net revenue for the five cellcos stood at BRL6.7 billion (USD2.8 million) at the end of June, an increase of 15% on the same period of 2004, EBITDA fell by 60% to BRL672 million, and margins fell to 10% from 28.8%. Net losses grew by 363% to BRL955 million.