NOS doubles profits to €73.9M

Profits at Portuguese telecoms operator NOS more than doubled in the first half of 2021 on the same period last year with shares reacting with a 3.24% increase.

The profits grew 111.2% on H1 2020 largely as a result of a growth in the number of services which passed the €10 million mark for the first time.
In a communiqué sent to the Portuguese sock market commission CMVM, NOS states that its consolidated results (EBITDA) fell back 1.3% to €306.6 million. “The growth in receipts and the reopening of cinemas with seating restrictions were not enough to compensate an increase in direct costs,” states the company.
Within this context, the EBITDA margin suffered by 1.4 p.p. in the first six months of 2021, to 45.2%.
NOS revenues grew 1.8% to €678.5 million. Taking into account the telecommunications part of the business alone, that grew 3% to €672.4.
In operational terms, NOS has 5 million households: 4,986 million of which 46% have fibre optics. For the first time, NOS exceeded 10 million services provided, an increase of 2.6% on the first half of 2020 – of these 5 million are mobile clients.
In terms of company clients, NOS closed the half with 1.54 million company clients. It enjoyed a growth of 37,000 services on the first half of 2020.
In terms of investment, NOS invested €200 million, an increase of 16.5% according to the company. Its net financial debt on 30 June was €895 million.