Hondutel’s FY12 revenues HNL1.08bn short of target

by / Thursday, February 7th, 2013
State-owned national PTO Hondutel (Empresa Hondurena de Telecomunicaciones) booked revenue of HNL1.968 billion (USD98.9 million) in full-year 2012, roughly HNL1.078 billion shy of its target of turnover of HNL3.047 billion El Heraldo reports. The ailing carrier, which recently failed in its bid to find a strategic partner for its newly created mobile joint venture Ehmovitel – Movitelh, said the collapse of its financial position was largely the result of a sharp decline in fixed telephony revenues due to the preference of the population for cellular alternatives provided by its rivals. Hondutel added that with service revenue accounting for 97.8% of total group turnover, its 2012 performance was down on the previous year. In fiscal 2011 the telco reported revenue of HNL2.114 billion – albeit shy of its target figure of HNL2.930 billion. As well as reporting a fall in fixed voice/data sales, Hondutel said the poor performance in 2012 was impacted by the decision to terminate some 27,223 main lines accounts, which were in ‘default’.