GVT’s net income up to USD33m in 3Q09

23 Oct 2009

Brazilian telephony and internet services provider Global Village Telecom (GVT) reported net profit of BRL57.2 million (USD33 million) for the three months ended 30 September 2009, reversing a loss of BRL14.7 million in the corresponding year-earlier period. Net revenues for the period under review rose 27.3% year-on-year to BRL442 million, and adjusted EBITDA climbed 30.9% to BRL173 million; the adjusted EBITDA margin increased one percentage point to 39.1%.

In the July-September period GVT added a net 247,194 new lines, for a total of 2.56 million lines by the start of October. Of those lines, 112,779 were new voice customers, 63,243 were broadband and 71,172 were VoIP and corporate lines. In the broadband sector, the company reached a total of 604,107 subscribers it said. Approximately 31.5% of its broadband clients have access to speeds of over 10Mbps, the company added.

Brazil, Global Village Telecom (GVT)