NOS restructuring plan could mean redundancies

The Portuguese telecoms company NOS is forging ahead with a restructuring plan that could involve job losses.

According to Bloomberg, the company is undergoing a change in organisational structure and an expansion plan to new markets.

In 2024, NOS had over 1,800 staff and posted record profits of €272 million, up 50.6% on 2023.

The telco achieved an EBITDA of €767.6 million, up 7.1% on the previous year.

In addition to a dividend paid out to shareholders of 35 cents, the company also paid out an extraordinary dividend of 5 cents per share.

The company’s improved profits were down to the sale of telecommunications towers completed last year and an extraordinary effect regarding activity charges that were reimbursed by the telecoms regulator Anacom after decisions in its favour in legal proceedings held against it by the regulator.

The Constitutional Court ordered Anacom to pay back €72 million in charges that had been imposed by the regulator and were deemed unconstitutional.

NOS had a good year in 2024 in which it maintained its leadership in 5G, expanding its Fibre-to-the-Home (FTTH) service with around 5.7 million homes covered by 5G.