Sonaecom reports first-half loss

30 Jul 2007

The Portuguese telco Sonaecom has reported a first half net loss of EUR4.6 million (USD6.26 million) after a profit of EUR32.6 million in the same period last year. The 1H 2006 result was boosted by a one-off income from the sale of Sonaecom’s Enabler unit. EBITDA fell 6.2% to EUR73.2 million following a 6.9% increase in operating costs which wiped out a 4.4% rise in revenues to EUR413.4 million. Sonaecom failed in a bid earlier this year to take over larger rival Portugal Telecom, but has since confirmed deals to acquire smaller players Tele2 Portugal and Oni Telecom. Sonaecom offers a range of fixed line and internet services and is also the major shareholder in Portugal’s third largest cellular operator, Optimus.

Portugal, Optimus (Clix), Optimus (Movel)