Altice Portugal’s revenues grew 13% in the first half, compared to the same period in 2022, to 1,417 million euros and investment rose 2.5%, the owner of Meo announced today.
In the second quarter, revenues rose 11.8% year-on-year to €718 million, after recording revenues of €699 million in the first three months of the year, bringing the half-year total to €1,417 million.
Earnings before interest, taxes, depreciation and amortization (EBITDA) reached €500 million in the first half, up 10% on a year earlier.
In the second quarter, EBITDA amounted to EUR 254 million (EUR 245 million in the first quarter), an increase of 9.5% compared to the same period of 2022.
Investment rose by 2.5% in the first half to EUR 231 million.
In the second quarter, investment amounted to 120 million euros, “reaffirming Altice Portugal’s commitment to the expansion of new generation networks, registering a decrease of -1.9% over the same period of the previous year”, the company said in a statement.
Revenues and EBITDA registered “once again a solid financial performance in the second quarter of 2023”, with Altice Portugal maintaining “its growth trajectory in this area, “sustained by a diversified and innovative portfolio of products and services, based on the best available technology and new generation networks, providing its customers with a superior quality experience”, adds the owner of Meo.
Altice Portugal “remains at the forefront of innovation and technological progress, reaching” in the second quarter “95.0% of the population with 5G and 6.3 million homes passed with fiber, homes and companies, throughout the country”, he adds.
In the second quarter, “operating performance maintained its positive trend” and “customer acquisition remained sustained, allowing the fixed services base to increase by +4.9% over the last 12 months, with the pay-TV service customer base growing by +3.9%”.
All segments and business lines of Altice Portugal “grew revenues in the second quarter of 2023, as a result of the continued expansion of the customer base, the diversification of the portfolio of increasingly digital services, the focus on innovation and quality of service, factors that proved to be decisive for the positive evolution recorded”.
Revenues in the consumer segment “registered €336 million in the second quarter of 2023, showing a year-on-year growth of +5.0%” and the unique customer base “continued to expand and increased by +1.3% compared to the same period last year, +21 thousand net additions in 12 months, totaling 1.7 million”.
Revenues from the business services segment “stood at EUR 382 million this quarter, representing a year-on-year increase of +18.6%, driven mainly by the growth of Geodesia and Altice Labs”.
EBITDA growth in the second quarter was underpinned “by revenue growth in core services and new business lines, but also by continued discipline in operating costs”.
The investment in the second quarter reinforced “the continued focus on the mobile network, on state-of-the-art core infrastructures and on the expansion of the fiber optic network in Portugal”, the company said.
The focus on strengthening the mobile network, “and in particular the implementation of 5G technology, led to an increase in the coverage rate of the Portuguese population from 48.9% at the end of the first quarter of 2022 to 95.0% in the second quarter of 2023, with the 4G coverage rate of the national population remaining at 99.9%”.
This quarter’s results “confirm Altice Portugal’s commitment to its mission of leading the technological and digital transformation in Portugal, through innovation, promoting a more human society and connecting people to a more innovative, inclusive and sustainable life”, says the company.