Telecom Argentina 9M net income up 30% on rising sales

5 Nov 2010

Argentine fixed line incumbent Telecom Argentina has announced it generated net revenue of ARS10.48 billion (USD2.65 billion) in the nine months ended 30 September 2010, an increase of 18% compared to the ARS8.86 billion reported a year earlier. Turnover from voice, data and internet services comprised ARS3.4 billion of the total, up 12% year-on-year, while mobile services accounted for the remaining ARS7.08 billion, representing a 22% rise year-on-year. Increased sales helped drive a 30% jump in net income from ARS1.01 billion in the first nine months of 2009 to ARS1.31 billion a year later, while net profit for the third quarter ended 30 September 2010 rose 47% year-on-year to ARS444 million. Telecom Argentina’s operating income before depreciation and amortisation (OIBDA) totalled ARS3.82 billion in the nine-month period, up 15% compared to 9M09. At 30 September 2010 Telecom Argentina had a total of 4.087 million fixed lines in service, up 1% year-on-year, while the firm’s broadband customers reached 1.33 million, representing an increase of 14% from 1.17 million at the end of September 2009. Telecom Argentina’s domestic mobile arm, Telecom Personal, reported a wireless customer base of 15.988 million at the end of the reporting period, an increase of 14% year-on-year, while the firm’s Paraguayan mobile subsidiary Nucleo had 1.855 million customers (including WiMAX), up 4% from 1.784 million a year earlier.