Americas > South America > Chile > Entel's 3Q13 net income drops 16% on debt costs

Chile: Entel's 3Q13 net income drops 16% on debt costs

2013/11/10

Chile telco Entel's 3Q13 net gain totaled 40.6bn pesos (US$79.1mn), down 16% from 48.5bn pesos in 3Q12, according to Entel's new financial statement.

Entel attributed the drop to the increased financial costs of its expanded deficit and the result of an accounting policy change applied to postpaid mobile accounts.

Third quarter sales grew 16% to 408bn pesos from 353bn pesos in 3Q12. The increase was attributed to increase in Entel's mobile and data segments inclunding 12.2bn pesos in sales during September from recently acquired firm Nextel Perú, the firm said.

As well affected by the postpaid client accounting change, 3Q13 EBITDA dropped 19% to 117bn pesos from 144bn pesos in the year-ago period.

Entel closed September with 25.2bn pesos in financing and related costs, up 49% from 12 months ago, the firm said.

On the nine month comparison, Entel's net gain fell 19% to 116bn pesos from 144bn pesos in the initial nine months of 2012, while sales rose 13% to 1.18tn pesos from 1.06tn pesos in the year-ago period.

During 3Q13 Entel's mobile customers in Chile increased by 108,000 clients. The firm noted particularly strong increase in mobile internet plans. At the end of 3Q13, 53% of its Chilean clients had subscribed to mobile internet plans, compared to 39% at the end of 3Q12, the firm said.

Inclunding recently acquired Nextel Perú inclunding subsidiary Americatel Perú, Entel's clients totaled 11.8mn in 3Q13, up 19% from 3Q12.

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