CTM earns 17% less revenue last year

Local telecom service provider CTM earned 17% less in revenue last calendar year, the company announced in a financial statement recently.
Public service providers are obliged by the law to publish its financial status on the Official Gazette.
In terms of actual revenue earned, the telecom company generated MOP3.5 billion last calendar year, compared to MOP4.2 billion in 2019.
CTM attributed the drop to the fall in sales in mobile and other devices. Comparing last year’s performance in this area with that of the previous year, the telecom company recorded a 42% drop. A 2% drop was recorded in revenue from service provisions.
Capital costs invested last year by CTM amounted to MOP625 million — MOP385 million more than in 2019.
Last year, the telecom company mainly focused on the construction of 5G networks, the expansion of Internet and exclusive line services, and the development of the customer service management system.
The city saw nearly 10,000 fewer landlines last year. As for cellphone services, CTM had 720,000 cellphone customers last year, amounting to a 37% drop from the previous year. There were 8% more mobile Internet service customers in year 2020, totaling 339,000.
CTM had 165,000 household fiber broadband users, 24% of which converted to fiber-optic connection last year. AL