After the quarterly results presented by leading telecommunications companies, there is a fact that stands out: the US was the only one able to increase revenues. The company’s revenues led by Miguel Almeida rose 3.2% to Euro 356 million, with the total services sold to customers to reach eight million in what was “the best quarter ever in the company with a growing all its business lines. “
The numbers are “solid, whether the operational level, or financial,” said the manager in a conference call with analysts. Are accounts that mark “the return [the company] to growth in key indicators,” he added. The net result of operator controlled by Angolan businesswoman Isabel dos Santos and by Sonaecom (owner of PUBLIC) rose 30.7% to EUR 24.1 million. And this time, unlike previous quarters, there is no impact of the merger ZON / Optimus shrinking profits.
The earnings before interest, taxes, depreciation and amortization (EBITDA) remained improved trend , rising 3.6% to 138.5 million euros and the EBITDA margin increased 0.2 percentage points to 38.9%. In late June, the US had 509,800 converged services clients (who can join television, fixed, mobile and internet), representing about 34% of total television subscribers.
total of convergent services has increased by 143% to 2.44 million. The average revenue per user (ARPU) in the fixed residential rose 12%, to 42.3 euros. In Mobile, the US had 3.86 million customers (over 130,000 in the quarter), came a little more than Vodafone, but still a great distance from the PT.
In Angola, the joint venture with Isabel dos Santos (ZAP, where the US holds 30% and SOCIP 70%), revenues also increased (23% to 18 million), but the results were penalized by a currency impact of EUR 2.8 million. The devaluation of the kwanza against the dollar and the uncertainties regarding the repatriation of capital due to the Angolan context are factors that weigh on the assessment of ZAP, according to a research of the BBVA that the PUBLIC had access.
As for PT, was first included in the quarterly data Altice, who took over management on 2 June. Revenues fell 7.1% to 590 million euros, but the Altice speaks in “improving trend” since the decline was only 0.5% over the previous quarter.
If residential wireline revenues rose 0.3% to 174.2 million in mobile revenues shrank 6% to 145 million, the new owners of PT attribute the “great losses in the prepaid, motivated by a aggressive policy of competitive prices in the contract. ” While the ARPU in fixed rose 4% to 33 euros in mobile evolution was negative: a decline of 4% to 7.1 euros. PT ended the quarter with 6.1 million mobile customers (minus 80,000). It maintains, however, the leadership of this market.
Altice also notes that the corporate business contracted 8.1%, which is explained with the “aggressive policy of a competitor prices in the segment of small and medium-sized enterprises “and the” loss of the financial sector customers, “alluding off the CGD PT’s customer portfolio last year.
The revenue of the business mobile business fell to 52.3 million euros, while revenues from the fixed business fell to 115.8 million. As a result of falling revenues, PT’s EBITDA retreated 7.7% to Euro 225 million, pushing the EBITDA margin to 38.2% (down 0.3 points).
In a telephone conference to analysts, the CEO of Altice, Dexter Goei reiterated “that there are great opportunities in PT” in terms of increased margins. In January, Goei had already stated that the average EBITDA margin of the company Altice was close to 48%, so there is room for improvement in PT.
The latest figures from Vodafone Portugal also reflect a reduction in revenue. According to data released last week by the “house mother”, the revenues were down 14.7% by June, to around EUR 517 million. Service revenues fell 2.6% reflecting what the telecommunications group dubbed as the “price convergence trend in the Portuguese market.”
In June, Vodafone had 4.9 million mobile customers ( lost 115,000 in three months), with an ARPU of 12.1 euros, and 357,000 customers in fixed broadband (which includes packages with television), having increased by around 30 000 from April.
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