The Us has closed the first nine months of the year with a net profit of 78.4 million euros, an increase of 6.6% compared to the figure recorded in the same period last year. The results released by the carrier this Monday, November 7, were slightly above the estimates of analysts
The increase in the number of services provided by the carrier contributed to the increase in revenues at 5.3% for a total of 1.1 billion euros, with the benefits of telecommunications to grow by 5.6% to 1.07 billion euros. Of this total, 667,4 million euros (+4.5%) and were derived from the revenue of consumption, eur 310 million of the increase in 3.8% of revenues in the business segment and “wholesale” and 37.4 million euro (+19,5%) with respect to the sale of equipment.
In the area of cinemas has registered a growth rate of 2.5% of income to 44.7 million euros, unlike the recipes of the item of Audiovisual fell 0.5% to 52.6 million euros.
Taking into account the net income before results of businesses and non-controlling interests, which includes the ZAP, Dreamia, and the TV Sport, the Us would have registered a growth of 26.4% of consolidated profits to 86.5 million euros.
by Analyzing only the third quarter of this year the results of associated companies and joint ventures was € 1.4 million, a value that compares with the negative figure of 2.9 million euros recorded in the same period of 2015. This reversal was due “to a combination of a performance less the negative of the 30% share of the Us in the ZAP, which recorded a contribution to the results net marginally positive in 70 mi, euros, supported by an environment of exchange rates more stable in Angola,” and also to “the improvement felt in Sport TV as a result of changes in its model of distribution and shareholder structure”, reads the statement sent to the CMVM.
At the end of July, Vodafone became part of the shareholding structure of Sport TV, going to hold, at par with the Us and Joaquim Oliveira, 33.3% of the capital of the channel. Before, the Sport TV was owned equally by the operator and by Olivedesportos. The Meo also signed a memorandum of understanding to integrate the shareholder structure of the sports channel.
Number of services subscribed grows 8%
January to September the number of services of the mobile operator led by Miguel Almeida increased by 8% to 8,941 million, which responds to 664,8 thousand new additions compared to the same period last year.
Still in the field operating, the Us highlights the growth in the number of mobile customers to 4,396 million, a number “record,” according to the carrier, and that represents 370,5 thousand new customers in this segment (an increase of 9.2%) and a share of 23.8%.
The carrier also highlights the increase in the consumption of data on 88%, to an average of 1,116 MB/month, a number that rises to 1,461/month when it comes to devices with a 4G (42% of the total number of smartphones used in the Uk).
In the pay-tv operator closed the third quarter with 1,586 million customers, an increase of 4.2% (64,2 thousand new subscriptions).
The carrier also highlights the increase in the number of customers converged in 19% to 661,4 thousand, “representing 45.2% of the total customer base of fixed access, up from 40,2% recorded in the same period of 2015″.
Already in the fixed broadband services and fixed telephone line registered growth of 11,85% and 6.1%, to 1,237 million and 1,692 million, respectively.
In the corporate segment the number of services followed the same trend, having increased by 11.1% to 1,382 million compared to the same period of 2015.
At the end of September the Us had a total of 3,741 million homes passed with new generation network, a number that corresponds to an increase of 197 thousand homes with fibre in the face of 2015. This growth results from the investment that the operator has been doing which in the first nine months of the year amounted to 292,6 million euros, a value in line with the period I analysis of the previous year.
In September the net debt of the Us stood at 1.1 billion euros, which corresponds to two times the EBITDA. The operator recalls that “you have all of your financing needs secured until the second half of 2017″.
Costs increase with sports content
consolidated operating costs in the Us increased 5.2% to 692 million euros in the first nine months of the year. Having m account only the third quarter, the increase was from 5% to 235 million euros.
The direct costs grew by 4.7% to 334,9 million euros in total of nine months and 7.4% to 115.7 mexican million euros from July to September. The main reason for this increase, according to the Us, was ” the additional cost with the programming resulting from the process of competitive bidding for sports content “premium” that has occurred in the last few weeks of 2015 and in early 2016″. That is, due to the recent acquisition of the tv rights of the games of Benfica, Sporting, Braga, among others.
This 'war' by the sports content, which ended with the signing of a contract for the sharing of the transmission of the same as well as of the costs among all the operators, has also led to an increase of 31% in the third quarter of the programming costs of doing this.
“The increase in the cost of content is also related to a change in the cost structure of the distribution model of TV Sport for all operators in the market, and that resulted from the need to introduce a more sustainable model financially,” explains the company.
(News updated at 17:36 with more information)