Claro Posts US$1.08bn Net Revs in 1Q07

Brazil's third largest mobile phone company Claro saw net revenues of 2.2bn reais (US$1.08bn) in the first quarter 2007, up 21% from 1.8bn reais in 1Q06, Claro's parent company América Móvil said in a statement.

Claro reported a 147% rise in Ebitda to 590mn reais in the first quarter compared to 239mn reais in 1Q06.

The company, which has been subsidizing handsets to gain market share, saw its Ebitda margin rise to 27.4% in the quarter from one of the market's lowest rates of 13.4% a year before.

The improvement was due to operational efficiencies and cost control in the market, the company reported.

Claro posted operating profits of 16mn reais in Q1 versus losses of 155mn reais in the year-ago period.

The firm also reported 24.6mn subscribers at the end of March versus 19mn at the same time a year earlier. However, the company's ARPU slipped to 27 reais from 28 reais in 1Q06.

Claro did not report its net profits or investment plans."

Posted to the site on 30th April 2007