A Digi entered the Portuguese market nearly six months ago, “I think it is still a bit early to comment much,” said Malo Corbin during a conference call with analysts about the first-quarter results, when asked about the matter.
“So far, as you know, we have not witnessed a significant exit of customers from Meo to Digi on landline, but also on mobile,” added the executive.
Therefore, “for now, there is no significant impact,” emphasized the CFO.
However, “once again, we remain cautious to see how their strategy will evolve in the coming quarters,” he concluded.
Altice Portugal’s revenues reached 697 million euros in the first quarter, an increase of 2.4% year-on-year, despite the reduction in revenues recorded at Altice Labs, announced Meo’s parent company today.
“Revenues showed an increase of 2.4% compared to the same period last year, despite the reduction in revenues recorded at Altice Labs,” states Altice Portugal in a statement.
Excluding the performance of Altice Labs, “revenue growth accelerated to 7.0% by March compared to the same period last year, benefiting from increases of 8.4% in the Consumer Segment, mainly driven by the energy business, and 5.3% in the Enterprise Services Segment,” explains the owner of Meo.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled 244 million euros in the first quarter, a reduction of 5.6% compared to the same period last year.
The company notes that, excluding the performance of Altice Labs, EBITDA decreased by 1.4% on a year-on-year basis despite the aforementioned revenue growth, due to increases in direct and commercial costs associated with the growth of the Energy customer base, as well as its seasonality.
Regarding investment, it amounted to 100 million euros between January and March, an increase of 1.3% compared to the same period last year.
This increase “reflects the company’s ambition for the future in a sector facing crucial challenges, such as technology upgrades, security, expansion, and improvement of connectivity quality,” Altice Portugal notes.
