Cesky Telecom and its 51%-owned mobile subsidiary, Eurotel, reported their H1 figures yesterday. Eurotel did very well in achieving 3.8% recurring revenue growth on the nearly saturated market. Cesky Telecom’s fixed-line business posted disappointing traffic volume numbers, however, including Internet usage volume, but the resulting lower call revenues were offset by higher revenues from other operators Both businesses retained high levels of operating efficiency (a consolidated EBITDA margin of 49.1%), and a capex reduction at wireline should eventually exceed our full-year expectations.
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