Iusacell losses widen

27 Feb 2009

Grupo Iusacell, Mexico’s third largest mobile operator by subscribers, has reported revenues of MXN11.1 billion (USD740 million) for 2008, an 8% increase year-on-year. EBITDA was up 5% to MXN2.2 billion but net loss slumped to MXN3.2 billion from a loss of MXN1.2 billion in 2007 following foreign exchange losses and devaluation of the Mexican peso. Iusacell’s subscriber base fell from just over four million to 3.5 million after the cellco stopped counting inactive pre-paid subscribers.

Mexico, Iusacell (inc. Unefon)