ETB reduces losses by 49% in 2017

Colombia’s Empresa de Telecomunicaciones de Bogotá (ETB) reported net losses of Co$130 billion in 2017 (USD 46.3 million), an improvement of 49% compared to previous year.
The financial performance data was announced by ETB’s President, Jorge Castellanos Rueda, at the General Assembly of Shareholders, held last week. The executive said that in 2017, Ebitda grew 25% to Co $ 530 billion (USD 189 million) and the Ebitda margin went from 29% to 36%, local daily Dinero reported. According to the executive, this increase was due to the austerity policies adopted in 2016.
The company also highlighted the sustained growth of fiber optic and TV customers. At the end of 2017, fiber customer base grew 44% to 291,000, while TV subscribers increased by 8% to 128,000. On the other hand, the number of mobile subscribers reduced by 15% to 594,000, following a debugging of the customer base.
The company’s new products – fiber optic, TV and mobile services – increased its share in total revenue from 10% in 2015 to 25% in 2017.
Efraín Martínez, VP of Infrastructure of ETB and Lismer Melendez, Home Business Director, will participate in the next edition of NexTV Series Colombia & Andean, which will be held on June 7 at the Convention Center of the Hotel Tequendama in Bogotá.