Wind's accounts for the first half of 2014 show a sharp decrease in revenues. The total revenue data marks a -8,2% compared to January-June 2013. The results of mobile telephony are bad, with a drop in turnover of 8,6%, while the drop in fixed telephony is 7,2, XNUMX%.
The company lets it be known that the negative figures for mobile telephony are attributable to the cut in the mobile termination rate, which however will already be zero from the next quarter. Furthermore, there was the blackout in June which sent the entire Wind network offline for almost an entire day.
The causes of the decline in revenues from fixed telephony are instead to be attributed to the phenomenon of "replacement of fixed telephony with mobile and the greater diffusion of bundle packages which are preferred to pay-as-you-go services".
Ebitda also fell: -7,6% in the period ended 30 June, to 865 million euros. However, Wind does let it be known that "the margin is up by 37,8% thanks to the structural cost containment initiatives undertaken on all the main expense items".
On the other hand, an increase was recorded in the broadband segment, which saw revenues rise by 3,5%, thanks to the increase in the Ull component, which grew by 5,4%. The mobile network segment also shows a good increase in revenues, recording +21,1%.
Finally, in the first six months of the year, the subsidiary Wind Acquisition Finance SA optimized its capital structure by refinancing approximately 8 billion euro of debt and, in a separate operation, reducing the annual cost of debt from 9% to 6%. The two refinancing operations will guarantee interest savings of around 300 million euros a year.
