Sonaecom posts EUR1.2 million net profit

3 Aug 2009

Sonaecom has reported net profit of EUR1.2 million (USD1.7 million) for the three months ended 30 June 2009, up from a loss of EUR6.7 million in the same period a year earlier. Revenues for the quarter grew 1.2% year-on-year, up to EUR240.7 million, whilst operating expenses dropped by 6.6% to EUR188.9 million. CAPEX fell to EUR30.9 million, down from EUR35 million in 2Q08. The firm also reduced its net debt by 12.5%, ending June 2009 with EUR321 million outstanding. Sonaecom saw its fixed line customer base shrink by 24.6% year-on-year as it ended the second quarter of 2009 with 528,500 connections, down from 701,000 a year earlier. The company’s mobile arm Optimus, however, added 286,600 net new customers, ending June with a subscriber base of 3.27 million.

Portugal, Optimus (Clix), Optimus (Movel)