“This quarter, the solid performance of the Telecommunications business (with EBITDA up 4.3%) and the IT business (with EBITDA up 10.4%) offset the poor performance of the Cinema and Audiovisual business (with EBITDA down 21%, due to the absence of box office hits during this period). In this context, consolidated EBITDA increased by 2.7% compared to the same period last year.
Margin expansion and operational free cash flow growth trends remained clearly visible, with EBITDA margin for the Telecommunications unit increasing by 2pp and consolidated EBITDA AL – CAPEX rising by 10% compared to the same quarter last year.
These results stem from disciplined execution and a continuous obsession with operational excellence, strongly supported by the extensive application of artificial intelligence in transforming our operating model. We believe we will continue on this path of operational margin growth, even though we anticipate that the Portuguese telecommunications market will remain challenging in the near future.
Our leadership in service quality enables us to face the future with confidence. This leadership is recognised by independent acknowledgements such as those from DECO Proteste, which simultaneously awarded NOS with the “Best in Test” distinction for Mobile Internet, Broadband, and TV services. Moving forward, our focus remains on delivering a superior experience to all our customers.
Likewise, in terms of sustainability practices, NOS has once again been recognised, this time at an international level: we were named by Time magazine as one of the “World’s Most Sustainable Companies”, and by the Financial Times as one of "Europe’s Climate Leaders". Being one of the few Portuguese companies featured on both lists, and the only telecommunications company, is a great source of pride and reflects the consistency and progress of our corporate sustainability strategy. Overall, it was another quarter of very solid operational and financial results, reinforcing an optimistic outlook for NOS’s future, even considering the challenging market environment anticipated in the coming periods."
Miguel AlmeidaChief Executive Officer
Latest Results
Key Highlights
• Consolidated revenues reached 457.3 million euros, impacted by a 21% decline in Cinema & Audiovisuals due to weaker blockbuster performance versus 3Q24, which included Portugal’s all-time highest-grossing film.
• Despite lower Cinema & Audiovisuals results, consolidated EBITDA grew 2.7% to 222.7 million euros, supported by strong Telecommunications and IT performances, up 4.3% and 10.4%, respectively.
• Efficiency gains drove a 4.6% reduction in operating costs, expanding the margin by 1.8pp to 48.7%.
• CAPEX decreased 2.0% to 91.5 million euros, reflecting continued structural deceleration in Telecommunications investment.
• Operating cash flow remained solid, with EBITDA AL minus CAPEX increasing 9.6% to 97.2 million euros.
