NOS profits fall almost 20% to €181 million in 2023

Portuguese telco NOS made €181 million in 2023, down 19.4% on the previous year, but a better result than the €141.34 million analysts had suggested.

The fall is related to the extraordinary effect of capital gains posted in 2022 from the sale of telecommunications towers.
Within this context, the board will propose a dividend payment of 35 cents per share, corresponding to 99.6% of the net result.
It represents a shareholder payout 25.9% higher than the 27.8 cents per share for 2022, and will be voted on by the General Assembly on April 12,
“In 2023 we completed a high investment cycle with around €1.50Bn accumulated over the past three years in modernising and expanding the latest generation of fixed and mobile networks”, said Miguel Almeida, CEO of NOS in a communiqué.
And adds: “The results that we share today are a clear reflection of the success of strategic investments, the results of which have been widely accepted by our customers”.
“With the intense years of investment in 5G behind us, we are on a solid free cash flow trajectory, which allied to the solidity of our balance, supports the maintenance of attractive returns for the shareholders”, emphasises the CEO in a report submitted on Tuesday to the Portuguese securities market regulator, CMVM.
EBITDA grew 10.1% to €716.7 million with a wider margin of 2.1% to 44.9%. Miguel Almeida explained the improvement on the “significant productivity gains from the digitalisation process of the company.”
Consolidated revenues grew 5% to €1.597,5Bn while the telecommunications business alone turned over €1.532,7Bn, up 4.3% on 2022.