Meo revenues rise 3.5% to €1.4 billion in the first half
EBITDA stood at €488 million, following a 3.4% decline, according to the financial report released on Thursday.
Meo had revenues of €1.392 billion in the first half of the year, representing a 3.5% increase over the same period last year. Altice Portugal’s energy business is beginning to offset the adverse effects on the accounts of the innovation centre in Aveiro, Altice Labs.
EBITDA (earnings before interest, taxes, depreciation and amortisation or operating profit) stood at €488 million, following a 3.4% drop, according to the financial report released on Thursday.
“The results for the second quarter of 2025 confirm that Meo is transforming at the speed that the context demands and that we are consistently executing the transformation strategy towards a more competitive model adapted to consumer needs”, said Meo CEO Ana Figueiredo in the message accompanying the document.
Investment in the first half of the year amounted to €197 million, of which €97 million was in the second quarter, an increase of around 2%. The figure shows that the declines in capex following the implementation of the fifth generation (5G) mobile network were offset after about a year. “We know that a future-proof network can only be built with investment. In a constantly evolving sector, where technology, connectivity and sustainability have become pillars of society, our response has been clear: invest, innovate and lead”, explained Ana Figueiredo.
Specifically for the second quarter, revenues increased by 4.6% year-on-year to €695 million, due to a 4.8% improvement in the consumer segment (mainly from the energy business) and a 4.5% improvement in business services. Excluding the performance of Altice Labs, which has had an impact on the accounts since last year, growth would have been 4.9%.
On the other hand, EBITDA totalled €244 million between April and June, down 1.1% compared to the same three months of 2024.
The total RGU base (number of fixed and mobile services) reached approximately 13.3 million, while the total number of unique customers in the consumer segment reached 1.7 million. The total number of fixed services stabilised, varying only 0.3% compared to the second quarter, reaching six million. The postpaid mobile customer base was 5.4 million as of 30 June 2025.
Although telecommunications revenues still account for the largest share of the corporate category, total growth of 4.5% to €330 million was supported by “solid results” from information and communication technologies, cloud, cybersecurity, managed services/outsourcing and BPO (Business Process Outsourcing) activities. Revenues from the consumer segment amounted to €365 million (+4.8%).
Altice has more than 3% of the energy market share
Meo Energia, which is five years old, saw its total end-customer base increase from 76,000 at the end of the second quarter of 2024 to 188,000 in June 2025, representing 42,000 net new subscribers since the beginning of this year.
“This performance was driven by strong commercial momentum, the introduction of innovative tariff plans, the attractiveness of combined telecommunications and energy offers, and an effective cross-selling strategy within the Meo ecosystem”, the company explained in the same document.
According to information from the Energy Services Regulatory Authority (ERSE) for June, Meo Energia captured almost a third (28%) of customers who switched electricity suppliers, which allowed it to strengthen its market share to 3.4%.
