{"id":24851,"date":"2023-04-26T17:11:43","date_gmt":"2023-04-26T17:11:43","guid":{"rendered":"https:\/\/lynettelockhart.com\/client\/portugal-nos-quarterly-profit\/"},"modified":"2023-04-26T17:15:22","modified_gmt":"2023-04-26T17:15:22","slug":"portugal-nos-quarterly-profit","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/portugal-nos-quarterly-profit\/","title":{"rendered":"Portugal NOS&#8217; quarterly profit drops 15% as 5G capex ups amortisations"},"content":{"rendered":"<p>By Sergio Goncalves<\/p>\n<p>LISBON (Reuters) &#8211;     Portuguese telecommunications firm NOS posted on Wednesday a 15% fall in first-quarter net profit as amortisation costs rose after strong investments to bring its fast-speed 5G network to almost everyone in Portugal.<\/p>\n<p>NOS, whose businesses include cable television and cinemas, made a net profit of 34.9 million euros ($38.55 million) between January and March.<\/p>\n<p>Consolidated revenue rose 2.2% to 381.4 million euros in the quarter from a year ago, of which 369.2 million euros were from its core telecommunications business.<\/p>\n<p>As the company invested 496 million euros in 2022 and 97 million euros in the first quarter, mostly in its 5G wireless network, depreciation and amortization costs increased 15% to 480.9 million euros between January and March.<\/p>\n<p>Its 5G network covered 88% of Portugal&#8217;s population in March, said NOS, which a year ago was in the initial phases of the new technology roll-out.<\/p>\n<p>Chief Executive Officer Miguel Almeida said the results were &#8220;very consistent, reflecting operational growth&#8221; with further investments in innovation and partnerships &#8220;that will contribute to materialising the opportunities that 5G presents to companies and families&#8221;.<\/p>\n<p>&#8220;The drop in net income reflects, in addition to the inflationary context, the impact of this strong investment towards leveraging Portugal&#8217;s technological transformation,&#8221; he said in a statement.<\/p>\n<p>Operating costs rose 7% year-on-year to 869.9 million euros in the first quarter due to soaring inflation.<\/p>\n<p>Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 8.8% to 173.5 million euros, while its EBITDA margin &#8211; a key measure of profitability &#8211;improved 2.8 percentage points to 45.5%, the company said.<\/p>\n<p>NOS added 388,200 mobile telecoms customers compared with a year ago, to a total of about 5.8 million at the end of March, and its revenue generating units (RGU) &#8211; either individuals or businesses &#8211; rose by 4.8% to 10.87 million.    <\/p>\n<p>($1 = 0.9052 euros)<\/p>\n<p \/>\n<p> (Reporting by Sergio Goncalves; Editing by Andrei Khalip and Emelia Sithole-Matarise)<\/p>\n<p><a href=\"https:\/\/lynettelockhart.com\/client\/portugal-nos-quarterly-profit\/illustration-shows-nos-sgps-sa-logo\/\"><img decoding=\"async\" src=\"https:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2023binary_LYNXMPEJ3P0U2-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3P0U2-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Sergio Goncalves LISBON (Reuters) &#8211; Portuguese telecommunications firm NOS posted on Wednesday a 15% fall in first-quarter net profit as amortisation costs rose after strong investments to bring its fast-speed 5G network to almost everyone in Portugal. NOS, whose businesses include cable television and cinemas, made a net profit of 34.9 million euros ($38.55 [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":24852,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1220],"tags":[],"class_list":["post-24851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-technology"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2023binary_LYNXMPEJ3P0U2-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/24851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=24851"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/24851\/revisions"}],"predecessor-version":[{"id":24853,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/24851\/revisions\/24853"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/24852"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=24851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=24851"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=24851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}