Portugal telco NOS' quarterly profit jumps despite frail box office
July 18 (Reuters) -Portuguese telecommunications firm NOS NOS.LS reported on Thursday a 77% rise in second-quarter net profit, boosted by revenue growth in its core segment while sales at its media and entertainment business ebbed sharply.
The company, which has invested heavily to bring its fast-speed 5G network to almost everyone in Portugal, raked in a net 80.8 million euros ($88.16 million) on revenues of 412 million, almost 5% higher than a year ago. Of that, 401 million euros came from its telecom business.
Sales at its audiovisual and cinema business fell 20% due to fewer blockbuster movies in theatres than last year after launch delays, the company said, adding that it expected a better second half with a ramp-up in blockbuster movie launches.
Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 4.8% to 187.6 million euros, while its EBITDA margin - a key measure of profitability - was unchanged at 45.5%.
NOS' 5G network covers more than 96% of Portugal's population, which two years ago was in the initial phases of the new technology roll-out.
($1 = 0.9165 euros)
Reporting by Matteo Allievi, editing by Andrei Khalip
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