The results for the 4th quarter confirm the growth trajectory shown in previous quarters, reflecting the strategy implemented to expand the Customer and Service Base, solid market position, diversification of the service portfolio, continuous improvement in service quality and financial strength.
The main operating and financial indicators for the 4th quarter and the whole of 2023 show continued operating growth, supported by the diversification of the service portfolio, increased investment in infrastructure and new generation networks, quality of service and a commitment to leading the technological and digital transformation in the country. These factors drove the excellent financial performance in the quarter and throughout 2023.
- In the fourth quarter of 2023, revenues increased by 7.5% year-on-year to 747 million euros.
- EBITDA in this period amounted to 258 million euros, an increase of 17.9% compared to the same period in 2022.
- Investment amounted to 147 million euros in the last quarter of the year, reinforcing Altice Portugal's continued commitment to the sector and to the country.
In 2023, revenues and EBITDA totaled 2,906 million euros and 1,038 million euros, representing year-on-year growth of 10.5% and 14.5%, respectively. Investment in 2023 was 488 million euros, reiterating the company's commitment to technological and digital transformation in Portugal and providing its customers with high standards of service quality.
The continued acquisition of customers and the maintenance of low levels of disconnections made it possible to increase the Fixed Services Base by 2.2% over the last 12 months, with Pay-TV services growing by 3.3%. These results demonstrate the success of a culture of innovation, a commitment to differentiating products and services and leadership in optical fiber and 5G.
In the period from October to December 2023, total Fixed Services increased by 0.5% to 6.0 million and the Subscription Television Service customer base grew by 0.7% to 1.9 million.
Revenues from all of Altice Portugal's segments and business lines evolved positively in the 4th quarter of 2023, growing by 7.5% compared to the same period of the previous year and standing at 747 million euros.
EBITDA increased by 17.9% compared to the 4th quarter of 2022, to 258 million euros, sustained by the expansion of the Customer Base and growth in the respective ARPU, the increase in revenue from core telecommunications services and new businesses, discipline in operating costs and efficiency gains.
The company's investment amounted to 147 million euros in the 4th quarter of 2023, reinforcing its ongoing commitment to the Mobile Network, state-of-the-art Core Infrastructures and the expansion of the Optical Fiber Network in Portugal, to a total of 6.4 million homes by the end of 2023. The reinforcement of the Mobile Network, in particular the implementation of 5G technology, resulted in a coverage rate of 95.7% at the end of the 4th quarter. In 4G, the coverage rate of the national population in the last quarter was 99.9%.
Revenues in the Consumer Segment amounted to 354 million euros in the 4th quarter of 2023, a year-on-year increase of 4.5%, boosted by the growing customer base that values fixed-mobile convergence and fiber technology. Unique Customers in the Consumer Segment continued to expand and increased by 0.7% compared to the last quarter of 2022, +12 thousand net additions, bringing the total to 1.7 million and the total RGUS of fixed and mobile services reached 10.7 million and increased by 113.1 thousand compared to the last quarter of 2022.
Revenues from the Business Services Segment stood at 393 million euros in the last quarter of 2023, representing a year-on-year variation of +10.3%, driven by the diversification of the portfolio, especially in Non-Telco Products and Services, the growth of new business lines, the technological export of Altice Labs to the international market, and the positive contribution of the business of design, construction, operation and maintenance of a Fiber Optic network in Germany.
In the year of its 15th anniversary, MEO was elected "Brand of the Year" by the Portuguese Association of Marketing Professionals (APPM), and was also awarded three gold, one silver and three bronze prizes, as well as the Grand Prize for the "Breaking Sirens" campaign.
According to the reports recently released by ANACOM for the 4th quarter of 2023, MEO has strengthened its market share leadership in all Telecommunications Services.
MEO continues to be recognized by ANACOM as the provider with the lowest number of complaints per thousand customers at the end of 2023, thus renewing this status in the national market for more than four consecutive years.