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The operator recorded an increase in adjusted EBITDA of 16% compared to the same period last year. The company also increased its mobile customers by 10%.
Santiago. May 22, 2023 – WOM continues to grow solidly and steadily. In the delivery of its financial results for the first quarter of 2023, the operator announced that its revenues reached Ch$172,409 million (equivalent to US$218 million), a 14% increase in revenues compared to the same period of the previous year, reflecting a 34% increase in revenues from equipment sales and 7% in service revenues.
In terms of subscribers, WOM continued with a solid growth of its customer base, increasing by more than 10% compared to the same period of the previous year, reaching a total of 7.9 million customers at the end of March 2023. It is worth highlighting the 9% increase in the company’s postpaid segment in the first quarter compared to the same period of 2022.
This has boosted the company’s profitability, with an adjusted EBITDA of Ch$55,972 million (equivalent to US$71 million), a 16% increase compared to the same period of the previous year. The company thus achieved an EBITDA margin of 32.5%, 0.6 percentage points above the margin for the same period of 2022.
“The positive first quarter results confirm that we continue to grow solidly at double digits, thus contributing to the country’s economic recovery. This allows us to continue offering the best service at fair prices, which is mainly due to the good management of our company,” said Álvaro Araya, WOM’s CFO.
The company consolidated its position as the fastest growing operator in mobile internet connections at the end of 2022, consolidating its position as the 2nd operator in the industry with more than 25% market share, according to the latest Subtel report.
WOM is today the company with the largest 5G network in the country, to which more than 18 million people can access in 320 municipalities from Arica to Punta Arenas. At the same time, it continues to advance in the National Optical Fiber (FON) project, a digital highway of more than 7,000 kilometers of optical fiber that will benefit more than 2.5 million people. Additionally, as part of its 5G competition deployment, WOM will provide coverage to 366 isolated locations and coverage in specific routes, as well as in industrial areas such as airports, ports, universities and research centers.
With seven years of presence in the Chilean market, the company has led the number portability ranking for 7 years and has been consolidated with the 1st place in recognitions for experience and customer satisfaction, among which stand out: Procalidad, ALCO, BCX and PXI. In addition, it was recently recognized with the award for Transparency in the telco industry according to the Customer Confidence Index (ICC) developed by the Adolfo Ibáñez University.
