Telint net profit up as regional units add subscribers
For the three months ended 31 March 2010 Telint generated revenue of MXN24.43 billion (USD1.98 billion), up from MXN20.64 billion a year earlier, headed up by increases in revenue from its Chilean subsidiary (up 16.2% against 1Q09). Earnings before interest, tax, depreciation and amortisation (EBITDA) meanwhile jumped 39.3% year-on-year to reach MXN6.71 billion, with net profit up 17.9% at MXN1.94 billion.
At end-March 2010 Telint reported that it had 19.2 million revenue-generating units across its countries of operation – Brazil, Chile, Colombia, Peru, Argentina and Ecuador. It singled out it Brazilian unit as the strongest performer in terms of subscribers, noting that customer numbers had risen by 18.8% compared to the first quarter of 2009, bringing the total to 15.1 million.
According to TeleGeography’s GlobalComms Database, in January 2010 Mexican mobile group America Movil (AM), controlled by businessman Carlos Slim, announced plans to consolidate both Telint and Carso Global Telecom with a view to creating a regional telecoms giant offering fixed line, wireless and broadband services to more than 250 million subscribers. The proposal was given the regulatory go-ahead the following month by Mexico’s antitrust regulator, the Federal Competition Commission (CFC), which ruled that the consolidation would not alter the market structure nor competition conditions in Mexico, since the companies belonged to the same economic group to begin with.
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