Brazil Tele Norte Cel 2Q EBITDA BRR35.7M Vs BRR21.7M
Dow Jones Newswires
July 26, 2001
Tele Norte Celular Participacoes SA - Brasilia, Brazil
All figures in reals ($1=BRR2.48)
2nd Quarter ended June 30:
2001 2000
Net revenue BRR128,232,000 BRR100,888,000
EBITDA -a 35,722,000 21,748,000
Net income 2,022,000 548,000
a. Earnings before interest, taxes, depreciation and amortization.
Tele Norte Celular Participacoes SA (TCN) provides mobile phone services in northern Brazil. In the second quarter the carrier's average revenue per user declined to BRR44 a month, compared with BRR60 a year ago and BRR46 in the first quarter.
The company's user base hit 834,723 at June 30, compared with 465,920 a year ago and 806,694 at the end of the first quarter. Second quarter EBITDA fell 12% from the first quarter.
Telemig Celular, along with its sister company Telemig Celular Participacoes SA (TMB), has been the subject of a control battle for about the last year between Brazilian private equity fund Opportunity, local pension funds and Canada's Telesystem International Wireless Inc. (TIWI).
Tele Norte beat ABN Amro's net income target for the quarter of BRR2 million, but missed the brokerage's EBITDA target of BRR37 million.
-By Terry Wade, Dow Jones Newswires; 5511-3145-1479; terry.wade@dowjones.com |
