Peru and Chile
Press Release

Entel records strong rise in income and consolidated profit from the sale of data centers and good results in mobile and fixed businesses

Bnamericas Published: Tuesday, November 08, 2022

Entel press release

This is an automated translation of the original press release issued in Spanish

Santiago, November 7, 2022. Higher profits from the sale of its data centers in Chile and Peru, added to good results in its main strategic lines of business, boosted Entel's revenues and consolidated profit in the third quarter of this year.

As reported by the technology and telecommunications company in its financial statements submitted this afternoon to the Commission for the Financial Market (CMF), consolidated revenues as of September amounted to $2,495,104 million, which is equivalent to an increase of 39% compared to to the same period of 2021. In the bottom line result, meanwhile, it recorded a profit of $403,757 million (+6.3x).

Entel's Vice President of Finance, Sebastián Domínguez, highlighted that "we see a healthy and positive evolution of results in the period, despite the complex scenario that we have had to face of rising inflation, exchange rate effects and a less dynamic economy."

The company explained that consolidated revenues grew thanks to higher revenues in the mobile operation in Chile and Peru (+2% and +22%, respectively), due to fixed services in Chile (+3%), associated with digital services, IT and residential of "Entel Hogar" and by income from services to other operators, with a growth of 16%.

Meanwhile, the consolidated EBITDA amounted to $1,109,562 million (+89%), mainly due to the sale of data centers, better revenues in its main lines of business and higher margins from the mobile operation in Peru.

In the analysis by country, Domínguez highlighted Entel's sustained consolidation as a relevant player in the Peruvian market, where it registered a 22% rise in revenues in the third quarter. Additionally, the mobile customer base grew 2%, driven by 5% growth in the subscription segment as of the third quarter. This is added to significant increases in revenues and EBITDA.

In relation to the operation in Chile, he highlighted the growth due to the sale of its data center operation, the postpaid mobile segment (6%), in addition to the increase in mobile revenues from services and equipment, and in Entel Hogar services , driven by a strong increase in fiber optic service subscribers (43%). This explains why revenues in Chile amounted to $1,735,088 million (+41%).

In its quarterly report, Entel also stressed that it has always stood out for leading infrastructure and technology deployments in Chile, and 5G has not been the exception. In August of this year Entel completed 100% deployment of the first stage of deployment of its 5G network throughout the country, in October it reached one million customers with terminals compatible with this new technology and according to figures from the Undersecretary of Telecommunications ( Subtel), 63% of the 5G connections in Chile are made in networks of the technology and telecommunications company. In addition, it continued expanding coverage and capacity in its 4G network, focusing on regions outside Greater Santiago and rural areas.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: ICT

Get critical information about thousands of ICT projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Mexico 2
  • Current stage: Blurred
  • Updated: 7 months ago
  • Project: Mexico 1
  • Current stage: Blurred
  • Updated: 7 months ago

Other companies in: ICT (Chile)

Get critical information about thousands of ICT companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Fundación Chile
  • Fundación Chile is a private corporation engaged in developing projects to promote innovation in areas such as food, biotechnology, aquaculture, water and environment, energy an...
  • Company: BNamericas
  • Business News Americas (BNamericas) is an online source of daily business information and intelligence on Latin America. Its services include the publication of analytical repor...
  • Company: Storbox S.A.  (Storbox)
  • *This is an archived company in the BNamericas database. If you need an update on this company and its operations, please Ask Us.* Storbox, part of the Iron Mountain group, prov...
  • Company: Almendral S.A.  (Almendral)
  • Almendral S.A. is a Chilean holding founded in 1981 in Santiago de Chile which is controlled by the business groups Gianoli, Hurtado Vicuña, Consorcio, Izquierdo Menéndez, Matte...
  • Company: BT Academy S.A.  (BT Academy)
  • BT Academy is the result of the idea to offer a fresh alternative to current know-how industry requirements, complemented by innovative education models with the ability to resp...
  • Company: Tecnología y Servicios S.A.  (Tecnovan S.A.)
  • TECNOVAN is a specialized IT provider that develops solution, services and projects in data security and networking. The company has specialized personnel in each of its specifi...