Entel Chile posts net loss in Q3
Chilean telco Entel posted a 5.3bn-peso (US$7.7mn) net loss in 3Q18 compared to a profit of 17.7bn pesos in the same period of 2017, as gains in Peru were offset by stiff competition in Chile, the company said in a statement.
Total quarterly revenues were flat year-on-year at 483bn pesos and declined 2% year-on-year for the first nine months of the year.
The company said that total mobile customers in Chile and Peru grew 10% in 3Q18 to 16.5mn. In Chile, mobile users increased 3% to 9mn, driven by a 14% hike in the postpaid segment, partially offset by a decline in the prepaiod segment due largely to a clean-up of the subscriber base in Q3.
Entel Perú's mobile customer base expanded 20% in the quarter to 7.4mn, with gains in both post and prepaid.
Commenting on the results, Entel CFO Felipe Ureta said: "In Chile, the competitive scenario remains challenging, with certain stabilization of promotions in the postpaid segment."
"During the quarter, Entel continued to see good traction with high-value mobile clients, as well as focusing on operating efficiencies."
Newcomer WOM, which entered the market in 2015, put a lot of pressure on Entel, with highly competitive mobile broadband plans, which have driven down the cost of such plans in the whole market.
In the quarter, Chile returned to selling mobile residential broadband services over the 3.5GHz band after telecoms regulator Subtel partially reversed a June decision that had frozen use of the band, which it said was being underused by concessionaires.
In Peru, Ureta said the market remains competitive but the company is growing in mobile and residential services.
In September, number portability reached record levels in Peru, rising 10.1% from August as competition in broadband plans intensified.
While Entel has generally performed well in number portability, the company saw a negative balance of 35,169 users in September, as a solid 12,117 net gains in postpaid clients was wiped out by a dramatic 47,286 loss of prepaid clients.
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