Lisbon, Aug. 28, 2025 (Lusa) - Meo's revenues rose 3.5% in the first half of the year, compared to the same period in 2024, to €1.39 billion, and in the second quarter they grew 4.6% to €695 million, the operator announced on Thursday.
Between April and June, excluding the performance of Altice Labs, “revenue growth was 4.9%, benefiting from an improvement of 4.8% in the Consumer segment, mainly driven by the energy business, and 4.5% in the Business Services segment”, the statement reads.
Meo's earnings before taxes, interest, depreciation and amortisation (EBITDA) fell 3.4% in the first half, to €488 million, and in the second quarter stood at €244 million, "reflecting a slight reduction of 1.1% year-on-year".
The figures for the first half of 2024 reflect Geodesia's pro forma operations in international territories.
Excluding the impact of Altice Labs' performance in the second quarter, “EBITDA would have grown by 1.0% year-on-year”, and in the first half of the year, the result would have been almost unchanged (-0.2%).
Investment totalled €97 million in the second quarter, "reflecting growth of 3.1% year-on-year, with a clear focus on technological modernisation, digital security, expansion of critical infrastructures, continuously developing the quality of connectivity, promoting innovation, operational excellence and building a more connected, secure and efficient future for all our customers."
In the first half of the year, it rose 2.2% to 197 million euros.
The company led by Ana Figueiredo emphasises that in the second quarter "Meo Energia recorded solid growth and significantly expanded its customer base, despite a challenging market context, marked by rising wholesale energy prices and intense competition".
The customer base of the energy business "increased from 76,000 at the end of the second quarter of 2024 to 188,000 end customers in June 2025", which "represents 42,000 net new additions since the beginning of the year", says Meo.
"Strong commercial dynamics drove this performance, the introduction of innovative tariff plans, the attractiveness of combined telecoms and energy offers, and an effective cross-selling strategy within the Meo ecosystem," says the company.
According to data from sector regulator ERSE for June, Meo Energia “captured 28% of customers who changed electricity supplier, which allowed it to increase its market share to 3.4%”.
The total RGU [revenue generating unit] base, covering fixed and mobile services, "totalled approximately 13.3 million, while the total number of unique customers in the Consumer segment reached 1.7 million".
Total fixed services showed a “positive variation of 0.3% compared to the second quarter of 2024, standing at 6.0 million” and the customer base for subscription television and connectivity services “increased by 1.3% and 1.8%, reaching 2.0 million and 1.9 million respectively”.
Concerning the post-paid mobile customer base, this reached 5.4 million and, “driven by the convergent offer, recorded an increase of 3.3% compared to the second quarter of 2024 and of 1.2% (+66,000 customers) in the second quarter of 2025 compared to the previous quarter”.
At the end of June, Meo had "6.6 million homes covered by optical fibre, reflecting the investment made in modernising the fixed infrastructure".
According to the company, “population coverage of the mobile network reached high levels, with 96.95% in 5G technology and 99.98% in the 4G network, ensuring a robust and reliable connectivity experience”.
Meo points out that in the Consumer segment of the Fixed Business, around 89% of the customer base uses optical fibre as its support technology.
Revenues in the Business Services segment grew by 4.5% year-on-year in the second quarter, to €330 million, or "by 5.1% excluding the performance of Altice Labs (...) mainly supported by solid results in the Non-Telco component - in particular in the activities of information and communication technology solutions, cloud, cyber security, managed services/outsourcing and business process outsourcing".
Telecoms revenues, "which still represent the most significant part of this segment, also continued to grow, albeit at a slower pace than the new service lines," the company adds In the second quarter, "Wholesale segment revenues recorded a slight negative year-on-year variation", with the performance "mainly influenced by the unfavourable contribution of revenues associated with the MVNO [mobile virtual operator] and roaming in".
ALU/ADB // ADB.
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