CANTV reports end of year figures, makes forecasts

17 Feb 2010

Venezuelan state-owned telco CANTV had 5.6 million fixed lines in service at the end of 2009, up from 5.2 million a year earlier, it reported in a statement. The incumbent also signed up 1.26 million fixed broadband customers by the end of December, up from 950,000 twelve months previously, whilst its mobile subsidiary Movilnet’s subscriber base reached 13.4 million at the same date, up from 11.9 million at end-2008. The operator announced targets for full-year 2010, in which it expects to reach 6.2 million active fixed lines, 1.5 million broadband subscriptions and 14.6 million mobile accounts. It also reported headline financial results for 2009, with annual net profit climbing 43% to USD490 million on a 19% rise in sales, whilst CAPEX spending of around USD900 million in the year is forecast to remain approximately the same in 2010.

Venezuela, CANTV, Movilnet