Altice Portugal rakes in almost €3Bn in 2023

Despite a year of financial and legal turbulence for its international holding company Altice International (€70Bn of debts), Altice Portugal, which owns the brand MEO, saved the day for the telecoms company by netting €2.906 in 2023.

Altice Portugal made up the biggest slice of the company’s revenues world-wide, including its companies in Israel, the Dominican Republic, and the advertising platform Teads.
Altice Portugal’s turnover — the company is led by Ana Figueiredo in Portugal – was €2.906Bn for 2023, a 10.5% growth on 2022.
The telco’s EBITDA also increased by 14.5% to €1.03Bn. Altice Portugal represents over a half of the group’s total international revenue (€5.143Bn), making it attractive to investors in a year that was marked by a judicial investigation (Operation Picoas) and the potential sale of all or part of Altice Portugal on the table.
Looking at the 4th quarter of 2023, Altice Portugal revenues also increased by 7.5% to €747 million.
The greatest contribution came from company services with a turnover of €393 million for that segment.
This was driven by portfolio diversification in non telco products and services, and the growth of new business lines with technology exports from Alice Labs to the international market, and the positive contribution of design, construction, operation and maintenance of a fibre optic network in Germany.
In the consumer segment revenues stood at €354 million between October and December. CAPEX stood at €488 million for 2023, slightly above the €483 million posted for Q4 of 2023.
Of the total pie, €147 million referred to the last three months of the year “strengthening ongoing investment in the mobile network, in the latest generation core infrastructures, and in expanding the fibre optic network in Portugal.
However, with 5G implementation nearly completed, the company expects that the amount invested will be less this year, not just in Portugal, but across all geographies.
In terms of net results, Altice International reported operational profits of €554 million, but it has not been revealed what percentage of these profits derived from Portugal since the company does not release results in isolation.