Telekom Romania reports robust EBITDA rise in Q2
Telekom Romania reported its earnings before taxes, depreciation and amortization (EBITDA) reached EUR 36.2 million in the second quarter of the year, 25.7% more than in the same period last year.
"The year-on-year increase in EBITDA for the third consecutive quarter provides further evidence of the company's continued and sustainable recovery, even amid high economic challenges posed by the COVID-19 crisis," the company said.
The group's consolidated revenues edged down by 1% in annual terms, to EUR 229 mln, impacted by the pandemic.
The company explained that "travel restrictions reduced roaming and visiting revenues, while temporary store closures negatively affected terminal sales."
Telekom Romania, which brings together incumbent fix line operator Romtelecom and mobile operator Cosmote, reported 4% higher revenues in 2019 compared to 2018, namely RON 5 billion (EUR 1.06 bln). It posted RON 1 bln losses in the year, though, 36% more than in 2018, Ziarul Financiar reported.
On the upside, the company boasted a 70% cut in the total debts to RON 2 bln (EUR 420 mln).