Portugal Telecom: net profit up 18.7% in 2009

4 Mar 2010

Portugal Telecom has posted net profit of EUR683.9 million (USD934.3 million) for the year ended 31 December 2009, up 18.7% year-on-year from EUR576.1 million in 2008. Revenues grew from EUR6.72 billion in 2008 to EUR6.78 billion a year later as earnings before interest, taxes, depreciation and amortisation (EBITDA) climbed 0.9% from EUR2.48 billion in FY08 to EUR2.5 billion at end-2009. The telco also saw its domestic fixed line customer base grow from 4.29 million at year-end 2008 to 4.58 million a year later as ADSL subscribership topped 862,000 at the same date, up from 710,000 in 2008. The company did however report a continued decline in PSTN connections over the year, down to 2.75 million from 2.84 million in 2008. The company’s wireless arm Telecomunicacoes Moveis Nacionais (TMN) added 319,000 net new customers over the twelve-month period, ending 2009 with 7.25 million mobile subscribers in total.

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