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Net announces Q2 results: subscriber base, earnings down
quinta-feira, 22 de agosto de 2002 , 17h23 | POR REDAÇÃO

Net Serviços (ex-Globo Cabo) announced its results for the second quarter of 2002 on Thursday, August 15. The subscriber base totaled 1.366 million at end-June, down from 1.398m three months earlier. Annualized churn was 19.6%. Average revenue per user (ARPU) was 74.73 Brazilian Reals. Vírtua, the broadband service, also lost subscribers: the number of paying customers totaled 49,100, down from 50,900. This is the first time Net has revealed the number of paying subscribers as opposed to ?gross? numbers that include disconnected and delinquent subscribers. This gross figure was 53,600 at the end of Q2, down from 55,000 in Q1. The only business unit that saw growth in the period was Vicom, which now has 4,000 corporate terminals. Aggregate net revenue totaled 280.7m BRL, down from 286.7m in Q1. EBITDA fell from 70.7m to 68m BRL. The bottom line was a net loss of 312.7m BRL, sharply worse than Q1 (-83.3m BRL). Excluding the effects of the capitalization process, net debt stood at 1.6bn BRL but management projects 1.0bn BRL when capitalization has been fully factored in. Most maturities are in 2004 and 2005. Dollar-denominated debt currently accounts for 59.1% of the total.

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