Sonaecom loss following PT bid

15 Mar 2007

Portuguese telecoms group Sonaecom has reported a full-year net loss of EUR13.5 million compared to a profit of EUR2.2 million in 2005 following its failed takeover bid for Portugal Telecom. Net profit discounting the costs related to the bid stood at EUR17 million. Sales for the year fell slightly, from EUR843.5 million to EUR836.0 million, while EBITDA increased from EUR156.9 million to EUR184.3 million. Unlike many European telcos, Sonaecom has seen an improved performance at its wireline division while its mobile unit has slipped back. Fixed line turnover was up 26.4%, while the cellular division Optimus saw sales fall by 2.7%.

Portugal, Optimus (Clix), Optimus (Movel)