Sonaecom: Q4 net profit falls 77% y-o-y

8 Mar 2010

Portuguese telco Sonaecom has posted net profit of EUR3.1 million (USD4.24 million) for the three months ended 31 December 2009, down 77% from EUR13.1 million in the same period a year earlier. Revenues fell about 7% to EUR232.8 million, while earnings before interest, taxes, depreciation and amortisation (EBITDA) declined 10% to EUR39.1 million. However, full year net profit climbed from EUR5 million in 2008 to EUR5.7 million a year later. Sonaecom’s wireless arm Optimus added 105,700 net new customers in the fourth quarter of 2009, ending the year with a total of 3.43 million mobile subscribers. Meanwhile the company’s wireline division saw its customer base decline by 18.4% year-on-year, ending the year with 483,613 fixed lines in service, with direct broadband connections falling by 22.3% in the same period, ending the year with 146,349 in total.

Portugal, Optimus (Clix), Optimus (Movel)