UOL: Q2 revenues up 16%, profit down 10%

14 Aug 2009

UOL reported gross revenues of BRL228 million (USD124 million) for the three months ended 30 June 2009, up 16% year-on-year, with revenues from advertising generating BRL98.3 million, up 42% on the corresponding period of 2008. UOL said the strong performance was bolstered by an increase in advertising revenues, sales of new products launched in the last two years and revenues generated from recent acquisitions. Turnover derived from subscriptions climbed 2% year-on-year to BRL129.7 million, although EBITDA of BRL33.6 million was 5% lower than the figure published in 2Q08; the EBITDA margin dropped by five percentage points to reach 20%. Excluding one-off items, EBITDA was down 1% compared with the same quarter of 2008. Net profit totalled BRL23.8 million, down 10% y-o-y, despite UOL increasing its subscriber base by 3% in the year, to 1.79 million. Of the total, 1.27 million were paying broadband subscribers, up 19% y-o-y.

Brazil, Universo Online (UOL)