Sonaecom falls from profit to loss

29 Jul 2008

The Portuguese alternative telco Sonaecom has reported a second-quarter net loss of EUR6.7 million (USD10.5 million), down from a profit of EUR1.3 million in the year-ago period. Earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped 12% year-on-year to EUR34.6 million thanks to higher operating costs, which rose 16.7% to EUR202.3 million. Service revenues were up 11% at EUR215.1 million, largely due to the acquisition last year of fixed line rivals Oni and Tele2 Portugal. Cellular subsidiary Optimus reported 2.33 million active clients at the end of June, up from 2.15 million a year before.

Portugal, Optimus (Clix), Optimus (Movel)