Sister companies Telemig and Amazônia report first quarter results

3 May 2007

Telemig Celular has posted first quarter net income of BRL42.6 million (USD21 million), up 35% year-on-year, on the back of a 24% rise in revenue to BRL317 million. EBITDA came in at BRL121 million, soaring 40% on the corresponding period last year. The results were boosted by lower churn rates, as well as declines in selling and marketing expenses and customer acquisition costs. The operator’s total subscriber base at the end of the period stood at 3,495,940 users, a slight increase compared with 3,401,000 customers one year ago. Telemig operates in the state of Minas Gerais.

Sister company Amazônia Celular also reported first quarter results, recording a net loss of BRL5.6 million, an improvement on the BRL8.1 million loss incurred last year. Revenue increased 18% to BRL115 million, with EBITDA up by more than 50% to BRL28.4 million. Net additions in the quarter totalled 45,354 new customers bringing the total subscriber base to 1,256,134. Amazônia operates in the northern states of Roraima, Amazonas, Amapá and Pará, as well as in the northeastern state of Maranhão.