Mexico's Grupo Iusacell has reported an eight percent drop in its fourth-quarter revenues to Ps.2.76 billion (US4215 million), compared to Ps.2.98 billion in the same period in 2008. The company said that the lower revenue for the quarter came mainly from lower air time sales, roaming revenue and CPP.
Cost and expenses during the quarter were Ps.2.24 billion, 3% lower compared to Ps.2.32 billion in the same period of the previous year. As a result, Grupo Iusacell reported EBITDA of Ps.516 million, compared to Ps.662 million in the fourth quarter of 2008.
The company returned to net profit though, recording a net income of Ps.454 million (US$35.4 million) compared to a loss of Ps.1.98 billion a year ago.
Total subscribers increased 3% as a result of an increase of 4% in the number of prepaid subscribers and a decrease of 1% in postpaid clients. As a result, Grupo Iusacell's subscriber base is 31% postpaid and 69% prepaid users. The total base reached 3.6 million at the end of 2009.
As of December 31, 2009, the debt balance of the company was Ps.11.7 billion, compared to the Ps.12.54 billion reported a year ago.
The company continues its conversations to negotiate its foreign currency - denominated debt. Capital expenditures for 2009 were Ps.613 million, mainly for system and equipment purchases for the purpose of extending Iusacell's 3-G network coverage and capacity and its EVDO services.
No comments:
Post a Comment