Promising Q3 for Telemig

9 Nov 2005

Mobile operator Telemig Celular has reported a net income of BRL590.6 million (USD27 million) for the third quarter of 2005, up 7.13% on the same period of 2004. Revenues grew by 7.7% year-on-year to BRL402 million, while EBITDA stood at BRL124 million, up 8.8%. The cellco ended September with around three million customers, up from 2.6 million twelve months ago and 2.9 million at the end of June. Net additions for the quarter stood at 69,000, below expectations of 78,000. ARPU dropped from BRL31.8 to BRL26.9 and market share fell from 51% to 39%, which the company attributed to stiff competition in the sector. Churn increased from 9% to 11%.

Brazil, Telemig Celular