Mobistar reports 6.6% drop in EBITDA in first three months of 2009

24 Apr 2009

Belgium’s second largest mobile operator by subscribers, Mobistar, has reported financial results for the three months ended 31 March 2009. It revealed a 6.6% drop in earnings before interest, tax, depreciation and amortisation (EBITDA) to EUR134 million (USD174.6 million), lower than analyst expectations. Consolidated net profit for the company also declined, falling 12.5% to EUR60.1 million; profit had been expected to fall with Mobistar citing regulatory pressure, increased competition and the economic downturn as factors. Consolidated turnover, however, rose 2.5% to EUR371.2 million, boosted by the sale of smartphones, although service revenues were down to EUR349.6 million, a 0.3% drop attributed to lower spending by corporate clients.

Mobistar also reported that the number of active customers group-wide rose 6.4% to 3.86 million, of which 3.78 million were attributed to its Belgian operations; the remainder subscribed to Luxembourg-based operator, VOXmobile.

Belgium, Orange Belgium, Orange Luxembourg