Telefonica Moviles nearing 3 million customers in Argentina.(Argentina)(Brief Article)

Latin America Telecom, December, 2004

The Argentine operator of Telefonica Moviles, Unifon, increased sales by 42 percent in the third quarter and is rapidly closing in on the 3-million customer mark. Revenues for the quarter were EUR239.6 million, 42 percent better than last year, but the company's Ebitda plummeted 61.3 percent from EUR50.6 million in 2003 to EUR19.9 million while squeezing margins from 29.8 percent to 8.2 percent.

At the close of the quarter, Unifon had 2.6 million customers, representing a 54 percent increase from the same quarter last year and 19 percent more than at the end of the second quarter this year. Company officials attributed the rapid expansion to GSM subscribers, which now make up 17 percent of the company's total customers. The operator invested EUR71 million of the...

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