3Q11 - Zon

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Maintaining leadership in Pay TVGrowth in Cable platformPay TV Net Adds[Thousands]Relative size of Pay TV customer base[Thousands]1,5541.4919-3.8-1.5-1.625782-17.1Others3Q10 4Q10 1Q11 2Q11 <strong>3Q11</strong> (<strong>3Q11</strong>) (2Q11) (2Q11) (2Q11)Source: ZON, ANACOM, Company Reports5
Page 1 and 2: 3Q11RESULTS PRESENTATION128 OCTOBER
Page 3: 75065055045035025015050-50150%130%1
Page 7 and 8: IRIS by ZON Fibra - New Services La
Page 9 and 10: 80%75%70%65%60%55%50%45%40%Continue
Page 11 and 12: ZAP posting good results in AngolaZ
Page 13 and 14: Slight decline of Total Operating R
Page 15 and 16: Negative quarter yoy, despite seque
Page 17 and 18: 908070605040302045%43%41%39%37%35%3
Page 19 and 20: Continued reduction of Baseline CAP
Page 21 and 22: Solid capital structure, 2.1x Net F
Page 23 and 24: Wrap-up Despite the difficult macro
Page 25 and 26: Financial Highlights(Millions of Eu
Page 27: ContactsJosé Pedro Pereira da Cost

3Q11 - Zon

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