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Altice Portugal records €550.7 million in revenue, 10.3% growth in Q2 2021 - Business

Altice Portugal records €550.7 million in revenue, 10.3% growth in Q2 2021 – Business

Altice Portugal presented results for the second quarter of 2021, revealing that revenue in the period was 550.7 million euros, a year-on-year increase of 10.3%. EBITDA was €213 million, up 5.9% in the same period.

Calculations made for the first half of 2021, MEO owner revenue increased by 7.6% (1099.8 million euros) and EBITDA by 1.4% (417.3 million euros), “indicating a sustainable development in the continued growth of the customer base, in An innovative and diversified portfolio, in maintaining high levels of service quality and rationalizing organic structure and operating costs,” it says in a statement. However, the company’s results take into account the delay in 5G Auction, which the company says continues to destroy value.

The operator claims that growth benefited from an economic context that has partially returned to normal, after the gradual lifting of containment measures related to the COVID-19 pandemic.

In terms of EBITDA growth in the first six months of the year, Altice highlights maintaining the company’s focus on operational control, as well as implementing an integrated restructuring plan. It also says that its customer base has grown sustainably, both in terms of demand for fiber and the services it provides.

The report also highlights the expansion of its fiber optic network, which added more than 111,000 homes during the second quarter of 2021 and 208 thousand homes in the first half. By the end of June, Altice had registered 5.8 million homes using fiber optics in Portugal.

The company says that while the national social and economic context continues to suffer from the effects of the pandemic, there has already been some recovery. Revenue increased 0.3% sequentially: €550.7 million in the second quarter versus €549.1 million in the first three months of the year.

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Revenue, which grew by 10.3% in the second quarter and 5.1% in the first, when compared to the same period last year, is justified by the return of revenue from sports activities (i.e. premium content) that were suspended in 2020. There was also a decrease in the volume of equipment sales. Due to store closures, as well as lower roaming revenues, due to travel restrictions and a lack of tourism.

Regarding investment, in the accounting report, Altice Portugal mentions that it amounted to 117.1 million euros in the second quarter and 228.4 million euros in the first half, which represents growth of 2.8% and 4.7% per quarter, compared to last year. , justified by the expansion of optical fiber coverage.

Consumption area with revenues of 303.7 million euros

Taking the outcome of the consumer segment, it reported revenue of 303.7 million euros in the second quarter of the year, an increase of 7% compared to 2020, which amounted to 283.7 million euros. However, there was a 0.7% decrease compared to the first quarter of the year.

The company believes that revenue performance was good during the second quarter, which combines continued recovery from the pandemic situation with its diversified portfolio, resulting in the growth of its fixed, mobile and converged customer base. Altice also says that customer experience has also been critical to the evolution of the indicators, highlighting the expansion of the Altice Portugal Proximity Store concept across the national territory.

On the one hand, the strategy emphasizes the experience of the company’s services and products to its customers. But also the availability of digital channels, self-care through the new virtual assistant, as well as the expansion of the benefits program for customers.

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The investment in the energy business has also enhanced the value of the company’s offering, as it combines a green “energy” offering with telecom benefits. It also highlights its MOCHE brand as a motivator for the youth segment.

Business services revenue growth of 14.4%

In terms of accounts related to business services, which combine B2B, Whoesale and other Altice Portugal business units, the second quarter recorded a growth of 14.4% compared to last year, with a total of 247 million euros (215.9 million euros in the same period of 2020 euros were recorded). Compared to the previous quarter, revenue increased 1.5%.

Services around digital transformation have justified the sector’s growth, in what it says is its commitment to supporting customers to weather the global crisis. He points out that non-telecom related revenue had a very large weight in the total pie during this period, as ICT offerings, business process optimization, and the Internet of Things “were able to overcome deferred business impact and promote greater customer engagement.”