''The highest results in the history of PT''
Monday, March 06, 2006
With these few words, Miguel Horta e Costa, Chairman of the PT Group summed up the 2005 results. PT closed the year with net profit amounting to Euro 654 million, a 4.9% increase on 2004. Highlight goes to the fourth quarter with net gains registering Euro 293,4 million, a 448.4% growth on same period in 2004.
During a press conference held today at Fórum Telecom, PT presented the consolidated financial results for 2005. Net profit for 2005 amounted to Euro 654 million, a 4.9% increase on 2004. Operational revenue totalled Euro 6,385 million, 7% up on 2004. Amongst the financial highlights, allow us to underline the earnings before interest, taxes, depreciation and amortisation (EBITDA), of Euro 2,496 million, equivalent to a 39.1% margin. EBITDA minus Capex totalled Euro 1,552 million.
Miguel Horta e Costa, Chairman of the PT Group, also announced that the Board of Directors will submit to the following Shareholders’ Annual Meeting a dividend distribution pertaining to 2005 of Euro 0,475 per share. A 35.7% increase on the 2004 dividend distribution.
Pertaining to the client base, the fixed network accesses increased 2.3% in the fourth quarter of 2005 to 4.478 thousand, on equal period of 2004. This increase is due to the sturdy growth of ADSL and the unbundled local loops.
In the fixed network business, the number of price plans increased 387 thousand in the fourth quarter of 2005.
The mobile business in Portugal, registered an extra 97 thousand clients in the fourth quarter, thus reflecting the success of the 3G expansion and the launch of UZO – the low cost brand. At the end of December, TMN registered 5,312 thousand clients, a 5.1% increase on equal period last year. In the mobile business in Brazil, VIVO registered 29,805 thousand clients in December, a 12.3% increase on equal period in 2004. Revenue obtained from data represented 6.2% of VIVO’s service revenue for the fourth quarter. The Brazilian operator’s market share at year end was 44.4% within the areas in which it performs, and 34.5% in the Brazilian market as a whole.
In the multimedia business, the total number of subscription TV clients attained 1,479 thousand at year end: 1,090 thousand by cable and 389 thousand via satellite. The number of broadband via cable clients rose to 348 thousand by the end of December, a 14.1% increase on last year.
Net Debt registered Euro 3,672 million at the end of December 2005, including Euro 300 million of extraordinary contribution to finance health care for post retirement.
2005 Annual Results
PT's Board of Directors Report relating to the Sonaecom's offer
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