Portugal telco NOS' quarterly profit jumps despite frail box office

Nos SGPS SA

18/07/2024 17:58

July 18 (Reuters) - Portuguese telecommunications firm
NOS  NOS.LS  reported on Thursday a 77% rise in second-quarter
net profit, boosted by revenue growth in its core segment while
sales at its media and entertainment business ebbed sharply.
    The company, which has invested heavily to bring its
fast-speed 5G network to almost everyone in Portugal, raked in a
net 80.8 million euros ($88.16 million) on revenues of 412
million, almost 5% higher than a year ago. Of that, 401 million
euros came from its telecom business. 
    Sales at its audiovisual and cinema business fell 20% due to
fewer blockbuster movies in theatres than last year after launch
delays, the company said, adding that it expected a better
second half with a ramp-up in blockbuster movie launches.
    Consolidated earnings before interest, taxes, depreciation
and amortisation (EBITDA) rose by 4.8% to 187.6 million euros,
while its EBITDA margin - a key measure of profitability - was
unchanged at 45.5%.
    NOS' 5G network covers more than 96% of Portugal's
population, which two years ago was in the initial phases of the
new technology roll-out.
    

($1 = 0.9165 euros)

 (Reporting by Matteo Allievi, editing by Andrei Khalip)
 ((matteo.allievi@thomsonreuters.com;))