Confirming earlier reports by PAY-TV News, second-quarter results released by Sky Brazil on Tuesday, August 12, show 3% growth in the subscriber base, which rose 20,000 to 760,000 in the period. Pay-per-view sales were another highlight, largely owing to the popularity of Brazilian Championship soccer matches. Sky sold 140,000 of these PPV packages in the first half, compared with 134,000 in the whole of 2002 and with sales of soccer PPV packages totaling 97,000 by Net Serviços, whose subscriber base is 70% larger than Sky?s.
Financial performance also improved in the second quarter. Net sales rose 30% to 52.1 million US Dollars, reflecting higher monthly subscription fees, lower sales subsidies and currency appreciation. EBITDA was 5m USD and net income amounted to 58.2m USD, again partly reflecting the Brazilian Real?s appreciation against the dollar.
Debt totaled 419.8m USD on June 30. Maturities in second-half 2004 account for just under 50% of the total (208.7m USD). The rest is owed to the satellite operator and matures only in 2018.