Brazil-based Padtec’s Latin America operations have seen great expansion in recent times, rising on the wings of rising connectivity demands of datacenter projects, fiber connection to 5G antennas, and the expansion of fiber broadband for institutions and residential buildings.
CEO Carlos Raimar said that the firm recorded an operating income of about 206 million reais (US$38.8m) during H1 of 2021, representing a 63.7% year-on-year growth.
The growth was mostly spurred by Q2 earnings which rose to 120m reais. The firm has also indicated that this is its highest recorded quarterly earnings in the past half a decade.
“The change in the dynamics of the Brazilian telecommunications market, with the accelerated adoption of fiber optic networks for residential and corporate applications, is now being replicated in other countries in Latin America. It is, without a doubt, an opportunity to expand our business in these regions,” Raimar said in another announcement.
Padtec currently has a presence in Brazil, the United States, Colombia, and Argentina. The firm also operates 40 points-of-presence (PoP) across Latin America.
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