Mobile revenues down 28.5% year-on-year at Wind Hellas

20 Oct 2010

Indebted Greek mobile, broadband and fixed line operator Wind Hellas, which this week approved a 100% buyout bid from a group of its creditors, saw its revenues fall by 28.8% year-on-year to EUR200.8 million (USD278.1 million) in the three months ended 30 September 2010, whilst third-quarter EBITDA dropped 44.8% to EUR54.3 million. Mobile revenues fell by 28.5% to EUR162.6 million in Q3 2010, down from EUR227.3 million in 3Q09, and Wind’s fixed division’s quarterly turnover also decreased, by 10.6% year-on-year to EUR32 million. The company’s overall mobile subscriber base fell from 4.967 million at end-September 2009 to 3.881 million a year later, with pre-paid users plummeting from 3.913 million to 2.845 million in the same period, whilst post-paid subscriptions fell from 1.054 million to 1.036 million. At Wind Hellas’ fixed network division, direct (LLU) customers reached 265,000, up from 193,000 a year earlier, whilst indirect customers stood at 290,000, down from 571,000 at end-3Q 2009. The firm said that unimpressive results were compounded by competitive weakness due to its debt restructuring process, whilst TeleGeography’s GlobalComms Database adds that Greece’s entire mobile sector has seen falling revenues and subscriptions due to factors including the government’s economic austerity measures in response to the national debt crisis, and a compulsory pre-paid SIM registration scheme – implemented in November 2009-July 2010.

Greece, Wind Hellas