MEO revenues up 1.3% to €2.8Bn

Portugal’s telecoms operator MEO enjoyed revenues of €2.8Bn last year, an increase of 1.3% on 2024.

The telecommunications operator saw revenues increase due to the consumer segment, which grew 5% driven the company’s the electricity supply package.

MEO’s CEO, Ana Figueiredo, said that “the 2025 results demonstrate that MEO is rigorously and consistently executing the strategy we defined to transform the company into a digital services platform, prepared to compete in a rapidly changing sector and establish itself as a leading ‘techco’ (more technologically advanced telecoms operator).”

In a message released with the financial report, Ana Figueiredo highlighted the “strong growth” of Meo Energia, whose revenues doubled and whose customer base increased from 145,000 to 223,000 with 78,000 new net subscriptions.

“The ability to attract customers has been crucial to this growth. We achieved a 4% share of the Portuguese energy market, in terms of number of customers,” emphasised the MEO CEO regarding the business diversification strategy.

Altice Portugal’s (MEO) EBITDA (earnings before interest, taxes, depreciation, and amortization) shrank by 4.8% last year to €947 million, penalised by the performance of Altice Labs (formerly PT Inovação) and a “progressive loss” of the MVNO – Mobile Virtual Network Operator.

Without this effect from the Aveiro unit and the mobile virtual network operator, MEO’s operating result would have fallen by only 1.4%.

In 2025, consumer revenues reached €1,508 million (+5%), while service revenues increased by 5.3%. Even so, Meo acknowledges “partial pressure” on average revenue per user (ARPU) in telecommunications “in a highly competitive environment”.

Annual investment decreased to €403 million and was applied to the expansion and modernisation of networks and infrastructure. By the end of 2025, MEO reached 6.7 million homes covered by fiber optics, with mobile network coverage reaching 99.98% for 4G and 97.22% for fifth-generation (5G) technology.

Source: ECO Online; Credits: Altice Portugal)