Mobistar raises forecasts following 1H results

Belgian mobile operator Mobistar has revealed its financial results for the first half of 2008, posting a 3.7% drop in net profit to EUR145.1 million (USD28.5 million) against the same period last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) also fell, down 0.7% to EUR300 million. The figures are stronger than analysts had expected and as a result Mobistar has revised guidance for the financial year, raising both its revenue and net profit share forecasts. Lower revenues had been expected due to the reduction of mobile termination rates by the Belgian Institute for Post and Telecommunications (BIPT), but the operator claimed that strong performance from its Luxembourg subsidiary, VOX Mobile, helped offset losses. Mobistar is currently the second largest cellco in Belgium, and according to TeleGeograpy’s GlobalComms database, claimed 30.52% of the market at March 2008, trailing Proximus, the wireless arm of former monopoly PTO Belgacom.