In 1H13, consolidated operating revenues amounted to Euro 3,092 million. Consolidated EBITDA stood at Euro 1,017 million with an EBITDA margin of 32.9%. The margin of the Portuguese teleco mmunications businesses stood at 42.9%, underpinning consolidated EBITDA margin…
In 1H13, consolidated operating revenues amounted to Euro 3,092 million. Consolidated EBITDA stood at Euro 1,017 million with an EBITDA margin of 32.9%. The margin of the Portuguese teleco mmunications businesses stood at 42.9%, underpinning consolidated EBITDA margin.
In 1H13, notwithstanding the depreciation of the Brazilian Real, fully and proportionally consolidated international a ssets represented 58.0% and 49.6% of PT’s consolidated revenues and EBITDA, respectively. Net income reached Euro 284 million in 1H13, including the capital gain recorded in 2Q13 in connection with the sale of the investment in CTM.
In 1H13, capex amounted to Euro 596 million, equivalent to 19.3% of revenues, while capex from Portuguese telecommunications businesses stood at Euro 228 million, down by 4.4% y.o.y, notwithstanding the investments in the rollout of the Data Center in Covilhã, which will be inaugurated on 23 September 2013. In 1H13, EBITDA minus capex reached Euro 421 million, while EBITDA minus capex of the Portuguese telecommunications businesses amounted to Euro 321 million.
In 1H13, operating cash flow stood at Euro 179 million, reflecting the seasonal first half investment in working capital, while free cash flow amounted to a negative amount of Euro 16 million. Excluding Oi and Contax, free cash flow amounted to Euro 304 million in 1H13, benefiting from the proceeds of the sale of CTM.
As at 30 June 2013, net debt adjusted for unused tax credits related to the transfer of the regulated pension plans to the Portuguese State amounted to Euro 7,749 million, and excluding the proportional consolidation of Oi and Contax, amounted to Euro 4,609 million.
In 1H13, cost of net debt, excluding the proportional consolidation of Oi and Contax, reached 5.3% and cost of gross debt stood at 4.8%, with an average maturity of 6.2 years as at 30 June 2013.
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