Telefonica Argentina sales up 29% in Q3 on ARPU growth
Telefonica Argentina sales up 29% in Q3 on ARPU growth Wednesday 31 October 2018 | 10:35 CET | News
Telefonica Argentina posted third-quarter revenues amounting to EUR 232 million, up 29.0 percent year on year on an organic basis on the back of data-led ARPU growth and higher handset revenues. However, on a reported basis, revenues were down 71.3 percent due to a hyperinflationary adjustment applied retroactively since January. The accounting changes come after Argentinaâs Central Bank raised interest rates to 60 percent in August in response to the dramatic fall of the Argentine peso, which has lost around 50 percent of its value against the US dollar this year. The Q3 impact on Telefonica Argentina was -EUR 365 million, -EUR 114 million and -EUR 76 million in revenues, OIBDA and Capex respectively.
The companyâs total subscriber base fell 7.7 percent year on year to 23.8 million, with mobile accesses down 6.8 percent to 18.5 million. However, postpay accesses were up 4.3 percent to 7.7 million after 44,000 net additions in the quarter and the 4G base increased by 26 percent year on year to 38 percent of customers thanks to a rise in coverage to 79 percent of Argentinaâs territory.
Fixed broadband accesses were down 10.2 percent year on year to 1.6 million but FTTx accesses doubled to 417,000 at the end of September thanks to an increase in FTTH coverage to 1.9 million premises. The company finally launched its first pay-TV service in parts of Buenos Aires last month.
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|Companies:||Telefonica / Telefonica Argentina|