Thursday, August 13, 2015

Hi returns to profits and reaches EUR 173 million in the second quarter – publico



Hi posted profit of 671 million reais (173 million euros) in the second quarter, compared to losses of 217 million reais (56 million euros) a year earlier, he announced the Brazilian telecommunications operator Thursday .


                         This result, said the operator, who has the Pharol (formerly PT SGPS) as a shareholder of reference, including the accounting adjustment of 1,113 million reais (about 287.6 million euros at the current exchange rate) “relating to results obtained with the discontinued operations of PT Portugal which are part of the sales contract to Altice. “

The operator states that, according to what” had been mentioned at the end of 2014, this figure includes the positive effect due to exchange rate variation on the book value of PT Portugal, which at the time was recorded in equity. “

It adds that” with the completion of the sale of PT Portugal in the second quarter of 2015 this amount was reclassified to net income from discontinued operations, together with costs of the sale. “

The profit attributed to the controlling shareholders of Hi was 620 million reais (160 million euros).

In cumulative terms, the profit in the first half of Hi took 224 million reais (57.8 million euros), compared to 10 million reais (EUR 2.5 million) in the same period last year.

In the second quarter, total net revenues of Hi amounted to 6,784 million reais (1,753 million euros), a decrease of 5.2% over the same period last year, while the profit before tax , interest, depreciation and amortization (EBITDA) rose 3.6% to 1,899 million reais (490.8 million euros).

Already in the first half, revenues fell 3% to 13,824 million reais ( 3,573 million) and EBITDA lost 20.3% to 3,910 million reais (1,010 million euros).



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