PT’s profit falls 16.3%, sales up 2.5%

10 May 2007

Portugal Telecom’s net profit fell 16.3% year-on-year to EUR177 million (USD240 million) in the first quarter to the end of March 2007, on revenues that were up 2.5% at EUR1.46 billion, while EBITDA grew 5.1% to EUR571 million. The fixed line division posted sales down 6% on last year’s results to EUR499 million, and EBITDA down 2.8% to EUR240 million. PSTN/ISDN lines fell by 2% or 104,000 to 4.357 million by the end of March, but PT gained 16,000 ADSL customers in the quarter for a total retail base of 701,000. At mobile unit TMN, revenues rose 1.9% over the corresponding period of last year to EUR363 million, and EBITDA climbed 3.4% to EUR160.9 million. The cellco added 10,000 net new customers in the quarter for a total of 5.714 million users, while ARPU fell to EUR19.1 from EUR20.5 a year ago. Net profit at the group’s PT Multimedia unit grew 8.9% year-on-year to EUR18.5 million as revenue increased 8.6%.

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