PHAROL Results, Q1 2016

Page created: Tuesday, 31 May 2016 14:58GMT | Updated: Friday, 3 June 2016 16:13GMT

Press Release:  31 May 2016 - 38 Page(s)
Pharol  Resultados 1T 2016  Results Q1 2016
  • PHAROL presented a Net loss for quarter of Eur. 65.9M, mainly explained by: (a) the effective partipation in Oi’s net losses of some Eur. 64.1M, (b) the cancellation of 10% of the value of the Call option on Oi amounting to Eur. 0.7M, and (c) operating expenses amounting to some Eur. 1.5M.
  • PHAROL reduced its Operational Costs by 63% comparing with 1Q2015, (Eur. 1.5M against Euro 4.0M).
  • On May 24th, the General Meeting approved the distribution of a dividend of 3 cents per share

Original title:  Consolidated Report and Accounts - 1Q16

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