Pandemic slows down Czech O2 progress
May 15, 2020 11.37 Europe/London By Chris Dziadul
The Czech incumbent O2 reached 459,000 subscribers to its IPTV and OTT at the end of March.
In its latest set of results the company notes that the 15% year-on-year growth of new customers in March contrasted with the 65% year-on-year increase in the previous two months. O2 Czech Republic, which also operates in neighbouring Slovakia, had total revenues of CZK9,590 million (€347.6 million) in Q1, up 3.7% on a year earlier. Its EBITDA was CZK3,096 million (+6.5%) and net profit CZK1,268 million (+2.6%).
Commenting on the results, Jindrich Fremuth, CEO and chairman of the board of O2 Czech Republic, said: “I am optimistic about the future, as it is clear that a substantial part of the economy and people’s lives are moving to the digital environment, in which we are a key actor.
“At the same time, the crisis period has accelerated the digital transformation of O2 itself, which will enable us to achieve higher efficiency in the coming period”.