Iusacell losses deepen

24 Oct 2008

Mexico’s third largest mobile operator Iusacell saw net losses rise by 55% year-on-year for the third quarter ended 31 September 2008, reaching MXN777 million (USD57.5 million), reports BNamericas citing a company statement. The increased loss was due principally to MXN417 million in increased financial costs in relation to the exchange rate with the US dollar, the company said. Net revenues increased 2% in the quarter to MXN2.7 billion, while EBITDA climbed 1% to MXN484 million. The EBITDA margin was flat at 18%. The company attributed higher revenues to greater income from post-paid plans, which increased 18% year-over-year to 1.13 million users. Pre-paid customers decreased 3% to 2.94 million. Iusacell’s 3G customer base increased to 79,500 in the quarter, more than doubling the 34,500 users registered at the end of September 2007.

Mexico, Iusacell (inc. Unefon)