SOTETEL recorded a 25.9% increase in cumulative revenues to 49 million dinars, at the end of the first nine months of 2024, compared to 38.8 million dinars for the same period in 2023.
Most of this growth was due to a 10.1% increase in local business, mainly driven by increased demand for “fiber optic connections to customers”.
Conversely, export business decreased by 32.8% due to a reduction in the number of technicians working in Malta.
Operating expenses amounted to 36.5 million dinars at the end of the third quarter of 2024, compared to 44.8 million dinars for the same period in 2023, an increase of 22.5%.
Operating expenses include 21.3 million dinars of consumables (including subcontracting), 12 million dinars of personnel expenses and 3.1 million dinars of other operating expenses.
At the end of the third quarter, EBITDA stood at 4.8 million dinars compared to 3 million dinars a year ago, up 56.3%.
This improvement is mainly due to the strong sales growth and the controlled increase in OPEX (+22.5% compared to +25.9% sales growth).
