4Q revenues up 10.3%, 7.1% at TIM Hellas, Q-Telecom

16 Feb 2007

Greek mobile operator TIM Hellas reported revenues of EUR245.7 million (USD322.8 million) for the fourth quarter of 2006, up 10.3% year-on-year, as it added 133,451 net new customers to reach a total of 2.832 million subscribers at the end of December. Average revenue per user fell to EUR27.6 from EUR29.9 a year earlier. Operating profit dipped by EUR200,000 to EUR22.7 million due to a rise in costs, while net losses narrowed to EUR26.2 million from EUR 50.2 million because of lower financing costs. TIM Hellas’ 100%-owned subsidiary, GSM and fixed line operator Q-Telecom, meanwhile, posted 4Q revenues of EUR44.3 million, up 7.1% from the corresponding period of 2005, whilst adding 37,190 new mobile customers for an end-year total of 1.072 million GSM users. Q-Telecom’s pro forma full-year revenues were up to EUR179.35 million from EUR148.45 million in the previous year. Its annual operating income rose from EUR18.54 million to EUR25.82 million, but full-year income before taxes was down from EUR15.98 million to EUR1.66 million due to expenses of EUR24.17 million in 2006 compared to EUR2.56 million the previous year.

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