Telecom Argentina H1 revenues fall 11.5%, grows customer base in Q2

Wednesday 14 August 2019 | 11:06 CET | News

Telecom Argentina reported first-half revenues down 11.5 percent year-on-year to ARS 94.8 billion after adjusting for inflation. The company said it managed to increase billing at a faster rate than inflation late in the period, due to customer demand for higher value services and despite the challenging economic climate. 

Operating profit before depreciation and amortisation was still down 17.0 percent to ARS 31.8 billion. The net profit doubled year-on-year to ARS 6.6 billion from ARS 3.3 billion due to positive forex effects. 

The company’s mobile subscriber base totaled 20.94 million on 30 June, up slightly from March but down 2.4 percent year on year. This included quarterly growth of over 250,000 at Personal Argentina to 18.41 million customers, while Nucleo Paraguay fell slightly to 2.35 million customers. Telecom ended its Nextel iDen services at the end of June, and customers were offered the new 'Smart Radio' service for PTT-like services over the Personal network. 

Cable TV subscribers were down 1.9 percent year-on-year to 3.42 million (including 141,000 in Uruguay), but rose by around 9,000 from Q1, Telecom said. Broadband accesses rose 1.2 percent from a year ago to 4.13 million.

Quarterly ARPU was down 10.6 percent year-on-year on a restated basis to ARS 246.5 per month in mobile and dropped 11.4 percent in broadband to ARS 867.4. Cable TV ARPU declined 16.2 percent to ARS 914.8. 

Telecom spent ARS 24.1 billion on capital equipment and rights in the first half, equal to 25.5 percent of revenue. The company said investment was helped by better financing conditions, including a deal with the Finnish export credit agency and a USD 300 million loan from the Inter-American Development Bank, allowing it to continue with its network plans. The group also approved the payment of another ARS 7.0 billion in dividends this month. 

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Categories: General
Companies: Cablevision / Nucleo Paraguay / Personal / Telecom Argentina
Countries: Argentina / Paraguay / Uruguay
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