SFR revenues down on sales taxes and regulatory changes

13 May 2011

French mobile operator SFR said first-quarter revenues fell slightly to EUR3.06 billion (USD4.40 billion) in 1Q11, as a result of the cost of higher sales taxes (VAT) and a regulatory-imposed reduction in call termination rates. Stripping out these effects, SFR said its full-year turnover would have climbed 4.3% year-on-year. The group booked EBITDA of EUR923 million, down 6.3% year-on-year, and a decrease of 1.2% when excepting the roughly EUR50 million impact of the new VAT regulatory decision. SFR added a net 94,000 post-paid mobile customers in the first quarter of this year, for a total of 15.916 million contract accounts, improving the customer mix by 1.8 percentage points year-on-year to 75.6%. SFR’s total mobile customer base reached 21.039 million at the same date.

France, SFR