Portugal NOS' first-half profit dips on amortisations, revenue up

Nos SGPS SA

19/07/2023 17:33

LISBON, July 19 (Reuters) - Portuguese
telecommunications firm NOS  NOS.LS  posted on Wednesday at 5.7%
drop in first-half net profit, due to higher amortisation costs
after strong investment in its 5G network and rising interest
rates, while revenues and core earnings rose.
    NOS, whose businesses include cable television and cinemas,
reported a net profit of 80.5 million euros ($90.11 million)
between January and June.
    Consolidated revenues rose 4.5% to 775.2 million euros from
a year ago, it said in a statement.
    As the company invested 251 million euros in the period,
part of which in its 5G wireless network, depreciation and
amortisation costs increased 7% to 237 million euros.
    Its 5G network covered 90% of Portugal's population in
March, said NOS, which a year ago was in the initial phases of
the new technology roll-out.
    Consolidated earnings before interest, taxes, depreciation
and amortisation (EBITDA) rose by 9.4% to 352.6 million euros,
while its EBITDA margin - a key measure of profitability
-improved 2.0 percentage points to 45.5%, the company said.
    
   
($1 = 0.8933 euros)

 (Reporting by Sergio Goncalves; editing by Andrei Khalip)
 ((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters
Messaging: sergio.goncalves.reuters.com@reuters.net))