Altice Portugal Q1 sales up 2.6% YoY to €522M, earnings 1.8% to €210M

Altice Portugal, owner of Portugal’s Meo brand and the country’s leading telecommunications company, had first-quarter revenues up 2.6% on a year earlier at 522 million euros, its parent company, Altice Europe, announced in a statement on Thursday.

Earnings before taxes, interest, depreciation and amortisation (EBITDA) for the period were up 1.8% on the first quarter of 2019, at 210 million euros, it said.

In the period, capital expenditure at Altice Portugal totalled 104.3 million euros, up 3.8%.

“Meo maintained a positive commercial momentum during the first quarter of 2020, with growth in the subscriber base, an increase in the proportion of converging customers [taking more than one service] within the total base,” said Altice Europe in its statement.

At the end of the quarter, Altice Portugal had 5.1 million homes taking its services via fibre-optic cable.

Total revenues from residential services in the quarter were up 1.3% at 272.7 million euros.

Sales of equipment in the period “were affected by store closures” resulting from measures to mitigate the Covid-19 pandemic, the group stressed.

In mobile, revenues for the quarter totalled 117.6 million euros, up 1.7% on the same period a year earlier.

Overall, Altice Europe’s revenues were up 3.6% at 3.631 billion euros while EBITDA rose 1% to 1.314 billion euros.

“The Group presented a solid performance in the first quarter, against this challenging scenario,” the statement quoted Patrick Drahi, founder of Altice Europe, as saying.