World VoIP NewsMobistar posts increase in first quarter earningsMobistar posts increase in first quarter earnings

Mobistar posts increase in first quarter earnings

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Belgian mobile network operator Mobistar has released its financial results for the three months ended 31 March 2010, posting consolidated service revenue, which includes turnover from its Luxembourg operations, of EUR365.5 million (USD489.9 million), a 4.6% increase year-on-year.
The operator noted that the rise was its strongest in two years, while also revealing that total consolidated turnover rose 6% y-o-y to EUR393.6 million, helped by rising sales of mobile handsets,. Mobistar also noted that the increase in revenue, coupled with the successful implementation of its Odyssey 2011 corporate transformation programme, contributed to the growth in earnings before tax, interest, depreciation and amortisation (EBITDA); for the three-month period EBITDA rose 3% against the same quarter a year earlier to EUR138.1 million.

Consolidated net profit for the company’s first fiscal quarter of 2010 was EUR68.5 million, up compared to the EUR60.1 million reported in 1Q 2009.

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