CTBC Q3 profits jump 77% to USD5.1m

20 Nov 2008

Brazilian telecoms operator CTBC has reported consolidated net profits of BRL11.9 million (USD5.1 million) for the three months ended 30 September, up 77.3% compared to the same period in 2007, BNamericas reports citing a company earnings statement. Group net quarterly revenues climbed 8.9% year-on-year to BRL318 million and EBITDA was up 14.5% at BRL89.7 million; the EBITDA margin was 28% up one percentage point in a year.

At 30 September 2008 CTBC had a total of 1.3 million customers it said, up 12.4% compared to Q3 2007, driven by a rise in subscribers to its mobile and broadband services. The company had 212,000 high speed internet customers at the end of the third quarter, up 20.5% y-o-y, while the mobile base swelled 25.5% to 433,000. The fixed telephony user base grew 3.6% to 683,000, which CTBC attributed to the success of its pre-paid plans for residential users and on winning a bigger share of corporate clients. CTBC is looking to migrate its existing infrastructure to a fully IP platform over the next few years. It currently covers the areas of Distrito Federal and the states of Minas Gerais, Rio de Janeiro, Sao Paulo, Mato Grosso do Sul, Goias and Parana.

Brazil, Algar Telecom, Algar Telecom (formerly CTBC [Fixa])