TMN and Vivo boost PT

14 Nov 2007

The Portugal Telecom (PT) Group has reported a 5.7% year-on-year rise in consolidated operating revenues for the first nine months of the year, to EUR4.53 billion (USD6.6 billion). EBITDA was up 11.8% at EUR1.73 billion, while net income jumped 27.2% to EUR670 million. The growth was driven by strong performances at PT’s two largest cellular subsidiaries, TMN in Portugal and Vivo in Brazil. Vivo’s operating revenues were up 13.8% y-o-y in the nine months to the end of September, while sales at TMN rose 1.3% over the same period. The domestic wireline business saw a drop in revenues, however, from EUR1.57 billion in 9M 2006 to EUR1.48 billion in the first nine months of this year as the number of PSTN and ISDN access lines dropped by 10.5% in twelve months. TMN saw customer numbers rise 9.3% in the year to end-September to pass six million, while at Vivo there was a 9% increase in subscribers to 31.3 million.

Brazil, Portugal