For Henrique Granadeiro, this result stands for the renewal of the confidence of the shareholders in the Board of Directors of PT, in the management team of the telecoms operator and in the strategic plan defined in 2009 that established the foundations and the goals for a sustained growth compatible with the adequate levels of return and security. “PT presents today the accounts of the exercise of 2009 to the General Meeting of Shareholders, thus ending the first of the three-year term of office initiated on 28 March 2009”, says the chairman of the Board of Directors of PT.
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Henrique Granadeiro, chairman
of the Board of Directors of PT |
These results demonstrate PT’s capacity to proceed with the approved strategic plan and should be seen by the shareholders as signs of security and tranquillity in terms of the future of the company. Henrique Granadeiro remembers that in 2009, despite the current economic context, “PT’s revenues increased by 0.9% y.o.y. to Euro 6,800 million, and EBITDA also increased by 0.9% to Euro 2,500 million. As a result of PT’s strong focus on international markets, 51.5% of revenues and 44% of EBITDA were generated by international assets of which Vivo is a major part. PT posted a net income of Euro 684 million, a 18.7% increase y.o.y., which represents a basic earning per share of Euro 78 cents, a 22.9% increase y.o.y.
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Zeinal Bava, chief
executive officer of PT |
PT’s good results are the consequence of the achievement of the strategy devised for this three-year period, which is based on five strategic goals, as Mr Zeinal Bava, PT’s chief executive, remembers: We want to reach 100 million customers until the end of 2011; To increase the contribution of international revenues to two thirds of total revenues; To consolidate our leadership in every market where we operate; To stay in the top quarter in operational and financial terms among our European partners; and to become a reference in terms of sustainability in every geography where we operate”.
PT is working towards achieving the defined goals. 2009 saw nine million additional customers from all subsidiaries, thus attaining 72 million customers. Its presence in other geographic areas was also consolidated as international business now stands for 51.5% of revenues and 43% of net income of Portugal Telecom. In what concerns the leadership of the segments in which it operates, PT continued to consolidate its market share in the home market through its wireline and mobile platforms. Revenues and EBITDA grew by 1% to Euro 6,800 million and 2,500 million respectively and the basic earning per share increased by 23% to 78 cents. Sustainability is also very important for PT, which maintained its building energy certification program.
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These are ambitious goals, but certainly not impossible to attain. According to the its chief executive, PT continues to invest in new technologies, aiming to provide its customers with more and better quality services. It is the quality of a telecoms operator in the launch of innovative products and services on the market that will differentiate it from its competitors. “Innovation is central to everything we do. In parallel with what we do internally, PT establishes partnerships of excellence to operate in this domain. This term of office, initiated in 2009, aimed to place PT at the frontline, growing, and the fact is that PT grew, revenues increased, EBITDA increased and the customer base also increased”, stresses Mr. Zeinal Bava.
After the discussion and approval of the eleven points on the agenda of the General Meeting of Shareholders, Mr. Henrique Granadeiro thanked for the shareholders’ confidence in PT’s management team, which “motivates us to fulfil the strategic plan successfully. PT trusts its capacity to discover and invent its own future”.
