Romtelecom, one of the largest communications operators inRomania, posted 13.9 million euros in operating losses in the thirdquarter of the year, with revenues down 6.5%, to 181.5 millioneuros because of the austerity measures and because of the rise inunemployment, according to data in the financial report of OTE, themajority shareholder. Romtelecom posted 194.2 million euros inrevenues and an 8 million-euro operating profit in the similarperiod of last year.
"Given the consumer spending decline prompted by the salary cuts ofpublic sector employees and of the VAT increase, Romtelecom postedreasonable results under these unfavourable circumstances,recording a 6.5% decline in revenues in the third quarter of 2010against the similar period of the preceding year," said YorgosIoannidis, the company's CEO.
On the other hand, the company announced increases in the number ofInternet and TV clients, which partly compensated for the declineof the core business, fixed telephony. The rise is largely drivenby Romtelecom's cable company, NextGen, which brought nearly 80,000Internet clients.
Cosmote, no. 3 on the Romanian mobile telephony market, posted117.5 million euros in overall revenues in the third quarter, up8.5% on the previous year, according to data in the financialreport of the OTE group, Cosmote's majority shareholder. Servicerevenues went up 3.4% in the third quarter, with the EBITDAamounting to 23.3 million euros, 12% more than in the precedingyear.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
