“The year 2025 began with the completion of the acquisition of Claranet Portugal, a decisive step in establishing NOS as the reference partner for the digital transformation of businesses in Portugal. This move allows us to strengthen our value proposition in the corporate segment, by leveraging our technological assets and technical expertise, and expanding our presence in the ICT market.
NOS was also recognised for its commitment to innovation, one of the strategic pillars of our activity, leading the number of Portuguese patent applications submitted in Europe for the second consecutive year. This performance consolidates our role as the Portuguese company that invests the most in R&D and reinforces our commitment to the national innovation ecosystem. In the technology field, we maintained our 5G leadership with the launch of 5G+ (standalone) services and the first Voice over New Radio (VoNR) call in Portugal – a milestone that opens the door to even more advanced connectivity experiences, with greater clarity, lower latency and enhanced sustainability.
Even in a demanding competitive environment, we continued to grow in the telecommunications segment, supported by our technological superiority and the excellence of the experience we offer our customers, increasing our turnover by 4.5%. At the same time, our operational transformation moves forward, focused on initiatives that aim to generate relevant and sustainable efficiencies.
We remain ambitious in leading a new market cycle, driven by innovation, financial discipline and a clear vision for the future. We are ready to continue creating value for all our stakeholders and for the country."
Miguel AlmeidaChief Executive Officer
Latest Results
Key Highlights
• Consolidated revenue grew by 4.5%, with a positive performance in the Telecommunications business (+4.6%) and Audiovisual and Cinema business (+1.5%);
• Consolidated EBITDA increased by 4.3%, with a slight EBITDA margin compression of 0.1pp to 45.6%, reflecting the increase in resale revenue, which typically carries lower margins;
• Recurring FCF grew by 9.9%, totaling €64.9M, supported by the structural growth of EBITDA AL-CAPEX, which increased by 12.2% to €71.1M;
