Profits up 9% at Telefónica Móviles

3 Nov 2005

Telefónica Móviles has reported a healthy rise in nine-month profits on the back of its continued expansion in Latin America. The Spanish cellular operator saw net income increase 8.8% to EUR1.54 billion in the nine months to the end of September, while sales for the period jumped 45.9% thanks to its acquisition of ten South American mobile operators from BellSouth late last year. Operating income before depreciation and amortisation was up 21.1% to EUR4.23 billion. The operator, whose 93% owner Telefónica has just acquired O2, had more than 89 million subscribers worldwide at the end of September, including 19.63 million in Spain and 65.62 million across Latin America.

Spain, Telefonica Moviles Group