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General

Pharol losses increase to EUR 806.5 million in 2017

Wednesday 25 April 2018 | 11:10 CET | News
Portuguese company Pharol reported losses of EUR 806.5 million in 2017, compared with losses of EUR 61.9 million a year earlier. This follows accounting changes made in its investment in Brazilian operator Oi, in which it holds 27.5 percent through subsidiary Bratel. Without these changes, Pharol would have had losses of EUR 13.5 million. EBITDA was negative EUR 4.8 million, compared to a negative EUR 7 million in 2016. Operating costs decreased 31 percent year-on-year. The company also said that the judicial recovery plan of Oi, which will dilute its equity interest, and the suspension of

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Categories: General
Companies: Oi
Countries: Brazil
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