Telefonica Chile reports 9M results

22 Oct 2009

Fixed line incumbent Telefonica Chile has posted a net profit of CLP36.8 billion (USD68.1 million) in the first nine months of 2009, up 32% year-on-year, helped by lower costs and growth in broadband and pay TV, writes BNamericas citing a company statement. Costs in the first three quarters dropped 6% thanks to the better exchange rate against the dollar compared to the previous year and lower access costs. Operating income was down 5% to CLP526 billion compared to the same period in 2008 due to a reduction in fixed-mobile access costs, decreed in January. CEO Oliver Flogel attributed the increase to better cost management and growth in connectivity of its subscribers. ‘These numbers were possible thanks to the continual growth in connectivity, as well as better performance with costs. Today, 48% of our customers have broadband and we want that to increase,’ he said. Broadband revenues totalled CLP94.7 billion in the first three quarters of the year, up 12% year on year. Pay TV revenue rose 18% to CLP34.3 billion.

Chile, Telefonica Moviles Chile (Movistar)