Meo Revenue Reaches 1.3 Billion Euros in First Half Despite Second-Quarter Dip
- Meo reported total revenues of 1,297 million euros for the first half of the year, marking a 0.3% increase compared to the same period, according to financial data...
- During the second quarter, the operator recorded a 4.6% drop in billing to 648 million euros, down from 695 million euros in the corresponding period of the previous...
- To counter headwinds in core telecommunications, Meo leaned on expansion in adjacent sectors.
Meo reported total revenues of 1,297 million euros for the first half of the year, marking a 0.3% increase compared to the same period, according to financial data released on August 27. Despite the stable top-line growth across the six-month period, the operator faced a notable deceleration during the second quarter as intense market competition and inflationary cost pressures weighed on profitability.
Second-Quarter Revenue and Earnings Pressures
During the second quarter, the operator recorded a 4.6% drop in billing to 648 million euros, down from 695 million euros in the corresponding period of the previous year. Ana Figueiredo, CEO of Meo, stated in the results announcement that the figures confirm the company’s resilience within a challenging operating climate. Num mercado de elevada intensidade concorrencial, alcançámos receitas de 648 milhões de euros, ligeiramente acima do período homólogo, refletindo a execução disciplinada da nossa estratégia…
Ana Figueiredo, CEO of Meo The company attributed the second-quarter drop primarily to competitive pressure within the consumer segment.
Profitability metrics also reflected the tighter market conditions. The operator’s EBITDA—representing earnings before interest, taxes, depreciation, and amortization—fell 7.5% year-on-year to 222 million euros during the second quarter. According to corporate disclosures, this reduction stemmed directly from margin compression in the consumer sector alongside rising operational costs driven by inflation, particularly expenses tied to infrastructure rentals, information systems, and energy.
Strategic Portfolio Adjustments and Offsetting Growth
To counter headwinds in core telecommunications, Meo leaned on expansion in adjacent sectors. Growth in the enterprise services division and the development of the energy business helped offset losses in consumer billing during the second quarter. The financial results also incorporate significant structural changes to the wider group’s asset portfolio. In April, Altice finalized the sale of a 65% stake in Intelcia to the contact center firm’s founders. The group additionally completed the sale of its Data Center in Covilhã, moves designed to streamline operations and concentrate resources on core business areas. Management expects the ongoing restructuring to yield clearer operational effects in upcoming quarters.
