LISBON -- This trading update, which is not a complete release of financial statements, excludes the consolidation of Brazilian
assets, namely Oi and Contax, in all figures presented. A complete set of consolidated financial statements for the
9M12 will be disclosed on 30 November 2012.
In 9M12, operating revenues amounted to Euro 2,321 million, while EBITDA stood at Euro 994 million. EBITDA margin reached 42.8% underpinned by the solid margin of the Portuguese telecommunication businesses, which stood at 44.9%.
Revenues in the Portuguese telecommunication businesses stood at Euro 682 million in 3Q12 (-6.7% y.o.y). Excluding regulation effects, revenues in the Portuguese telecommunication businesses would have declined by 5.4% y.o.y in 3Q12 (-5.5% y.o.y in 2Q12). In 9M12, capex amounted to Euro 449 million, equivalent to 19.3% of revenues, while capex from Portuguese telecommunication businesses stood at Euro 370 million, down by 7.5% y.o.y, reflecting the recent investments in future proof technologies and networks.
Portugal Telecom SGPS SA