Entel expands Chile fiber with with OnNet support

An agreement with OnNet enabled Chilean telco Entel to grow its FTTH business with the addition of 42,000 connections during Q2, up 16% quarter-on-quarter, and 71,000 between June 2023 and June 2024, which represents growth of 30%. 

In June, Entel Hogar reported 309,000 fiber revenue generating units.

In Q1, the company started a mass commercial offering of FTTH, after the regulatory approval of an agreement with OnNet Fibra, under which Entel reached 4.3mn households passed with fiber.  

Digital fiber sales accounted for 82% of total Entel Hogar sales. The company reached 558,699 fixed revenue generating units in Q2, including OTT and TV, up 3.7% year-over-year.

The mobile customer base reached 7.7mn subscribers, down 4.87% due to a prepaid reduction of 18.2%. Postpaid was up 4.68%.

PERU

Peru’s mobile customer base reached 9.7mn subscribers, with a 5.8% postpaid expansion and a 4.5% prepaid reduction. 

Entel is awaiting regulatory approval for its local fiber transaction involving KKR and Telefónica del Perú, and which is expected to be completed this year. 

So far, the number of fixed residential customers is has been falling 37.1% due to wireless disconnections. 

Entel reported 68,000 fixed revenue generating units, of which 17,000 were on fiber networks and the rest wireless.

RESULTS

Consolidated revenue for the second quarter reached 680bn pesos (US$712bn), a 10.2% year-on-year increase.

Operating profit was 57.7bn pesos and net profit 44.1bn pesos, up 97.3%.

Capex amounted to 135bn pesos, a 5.6% annual increase. Entel invested 86.9bn pesos in Chile, mostly in 5G, 4G and fiber connections.