2Q09 RESULTS ANNOUNCEMENT PRESENTATION …2009/07/31 · 2Q09 RESULTS ANNOUNCEMENT PRESENTATION 31 JULY 2009 DISCLAIMER This presentation contains forward looking information, including

2Q09 RESULTS ANNOUNCEMENT PRESENTATION

31 JULY 2009

DISCLAIMER

This presentation contains forward looking information, including statements which constitute forward looking statements within

the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and

assumptions of our management and on information available to management only as of the date such statements were made.

Forward-looking statements include

(a) information concerning strategy, possible or assumed future results of our operations, earnings, industry conditions, demand

and pricing for our products and other aspects of our business, possible or future payment of dividends and share buy back

program; and

(b) statements that are preceded by, followed by or include the words “believes”, “expects”, “anticipates”, “intends”, “is confident”,

“plans”, “estimates”, “may”, “might”, “could”, “would”, and the negatives of such terms or similar expressions.

These statements are not guarantees of future performance and are subject to factors, risks and uncertainties that could cause

the assumptions and beliefs upon which the forwarding looking statements were based to substantially differ from the

expectation predicted herein. These factors, risks and uncertainties include, but are not limited to, changes in demand for the

company’s services, technological changes, the effects of competition, telecommunications sector conditions, changes in

regulation and economic conditions. Further, certain forward looking statements are based upon assumptions as to future events regulation and economic conditions. Further, certain forward looking statements are based upon assumptions as to future events

that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from the plans, strategy,

objectives, expectations, estimates and intentions expressed or implied in such forward-looking statements. Additionally, some of

these statements refer to board proposals to be submitted to ZON - Multimédia – Serviços de Telecomunicações e Multimédia,

SGPS, S.A. (“Multimedia” or “ZON”) AGM and subject to (i) its approval by Multimedia’s shareholders, (ii) the market conditions

and (iii) the ZON’s financial and accounting position as revealed in the financial statements approved by Multimedia’s AGM.

Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in

light of new information or future developments or to provide reasons why actual results may differ. You are cautioned not to

place undue reliance on any forward-looking statements.

ZON Multimedia is exempt from filing periodic reports with the United States Securities and Exchange Commission (“SEC”)

pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934, as amended. The SEC file number for PT Multimedia’s

exemption is No. 82-5059. Under this exemption, ZON Multimedia is required to post on its website English language

translations, versions or summaries of certain information that it has made or is required to make public in Portugal, has filed or

is required to file with the regulated market Eurolist by Euronext Lisbon or has distributed or is required to distribute to its security

holders.

This presentation is not an offer to sell or a solicitation of an offer to buy any securities.

2

1. Introduction

TÍTULO E DATA DA APRESENTAÇÃO ARIAL 10pt. | 30 09 05

Continuing strong growth momentum

Another Quarter of Very Strong Growth

33% Triple Play Penetration: 30%, 2010 target

Reversal of trends in Pay TV

>

4

4

Continued growth in Broadband and Voice, in line with

previous quarters

RGU GROWTH 24.5%, RGU per Sub 2,0>

Getting Closer to Our Customers (I)

Through continuous innovation

Leading broadband speeds with the broadest geographical coverage, up to 100 Mbps, 1.3

million households covered end June

The most attractive fixed voice proposition in the market, unlimited fixed traffic to 20

countries

Launch of ZON Fibra bundles, the richest nationwide 3Play offer in the market;

5

5

Reinforcing leadership position in HD (+ Brava TV, MyZen TV in 2Q09);

The most exciting VoD offer with a selection of over 2000 films, series and documentaries;

Launch of ZON Mobile Broadband card

Getting Closer to Our Customers (II)

ZON already has the largest next generation

network with 1.3 million households passed

6

6

With our network upgrade, we already reach 1.3 million households with speeds of up to 100

Mbps and by the end of this year, we will cover 2.8 million households;

Next Generation Internet is delivered to the house/area over hybrid fibre and Eurodocsis

3.0, both of which can deliver maximum theoretical download speeds of 400Mbps and

upload speeds of 100 Mbps.

In Portugal ZON uses over 14 thousand Kms of optic fibre and 25 thousands Kms of coaxial

fibre, to ensure the best next generation Internet, TV and Voice services at home;

Getting Closer to Our Customers (III)

Number of Complaints by 1000 ServicesNumber of Complaints by 1000 ServicesNumber of Complaints by 1000 ServicesNumber of Complaints by 1000 Services[units]

Through service quality

7

7

Source: ANACOM

Dramatic improvement in customer service over the past 18 months;

Significantly higher levels of customer satisfaction;

Independent recognition from ANACOM: complaints from cable TV customers were 63% lower

than other TV services, and VoIP services generated 87% less complaints.

Getting Closer to Our Customers (IV)

Through continuous innovation in other areas

Cinema Exhibition Audiovisuals

8

8

Launch of myZONcard promotion

for customers’ children;

Launch of first fully digital cinema

complex in Iberia, with a centralized

theatre and library management system;

Digitalization of all screens in Portugal

until the end of 2010.

Agreement to distribute another

US major, Warner, further

strengthening the quality and depth

of our content offer.

2. Continued Strong Operating Performance


2.608 2.6902.982 3.116 3.247

Continued Strong Operational Momentum

RGURGURGURGU[thousands]

+24.5%+24.5%+24.5%+24.5%

2Q08 3Q08 4Q08 1Q09 2Q09

10

10

+93.7 +81.4 +144.4 +133.9 +131.0+93.7 +81.4 +144.4 +133.9 +131.0+93.7 +81.4 +144.4 +133.9 +131.0+93.7 +81.4 +144.4 +133.9 +131.0

RGU GROWTH REMAINS STRONG

[Net Adds - thousands]

14%18%

23%

29%33%

2Q08 3Q08 4Q08 1Q09 2Q09

3Play Penetration Reaches One Third of Cable

Subscriber BaseTriple Play Subscribers Penetration of Triple Play Subscribers Penetration of Triple Play Subscribers Penetration of Triple Play Subscribers Penetration of

Cable BaseCable BaseCable BaseCable Base

+19.2pp+19.2pp+19.2pp+19.2pp

153193

275

340

391

2Q08 3Q08 4Q08 1Q09 2Q09

Triple Play SubscribersTriple Play SubscribersTriple Play SubscribersTriple Play Subscribers[thousands]

+155.1%+155.1%+155.1%+155.1%

2Q08 3Q08 4Q08 1Q09 2Q09

1,68 1,75 1,85 1,95 2,01

2Q08 3Q08 4Q08 1Q09 2Q0911

11

RGUs per SubscriberRGUs per SubscriberRGUs per SubscriberRGUs per Subscriber[units]

+20.2%+20.2%+20.2%+20.2%

2Q08 3Q08 4Q08 1Q09 2Q09

+46.0 +40.1 +64.2 +64.5 +51.1+46.0 +40.1 +64.2 +64.5 +51.1+46.0 +40.1 +64.2 +64.5 +51.1+46.0 +40.1 +64.2 +64.5 +51.1 [Net Adds

thousands]

2010 objective of 30% Triple Play

Penetration achieved 1.5 years ahead

of schedule;

Each customer now subscribes to

more than 2 services, on average.

458442 438

419 4121.099 1.0971.176 1.176 1.179

1.557 1.539

1.614 1.595 1.591

Pay TV – Improving Trends in 2Q09

Basic SubscribersBasic SubscribersBasic SubscribersBasic Subscribers[thousands]

+2.2%+2.2%+2.2%+2.2%

Cable SubscribersCable SubscribersCable SubscribersCable Subscribers[thousands]

+7.2%+7.2%+7.2%+7.2%

DTH SubscribersDTH SubscribersDTH SubscribersDTH Subscribers[thousands]

(9.9)%(9.9)%(9.9)%(9.9)%

2Q08 3Q08 4Q08 1Q09 2Q092Q08 3Q08 4Q08 1Q09 2Q092Q08 3Q08 4Q08 1Q09 2Q09

12

12

(3.6) (17.9) (14.0) (18.2) (3.9)(3.6) (17.9) (14.0) (18.2) (3.9)(3.6) (17.9) (14.0) (18.2) (3.9)(3.6) (17.9) (14.0) (18.2) (3.9) +1.8 (2.6) +4.6 +0.2 +3.1+1.8 (2.6) +4.6 +0.2 +3.1+1.8 (2.6) +4.6 +0.2 +3.1+1.8 (2.6) +4.6 +0.2 +3.1 (5.3) (15.3) (18.5) (18.4) (7.0)(5.3) (15.3) (18.5) (18.4) (7.0)(5.3) (15.3) (18.5) (18.4) (7.0)(5.3) (15.3) (18.5) (18.4) (7.0)

Basic Customers pratically flat q.o.q. showing reversal of trend of recent quarters;

Cable base stable, and posting some growth;

Strong reduction in DTH disconnections in 2Q09.

[Net Adds thousands]

Note: 4Q08 Net Adds are adjusted for the impact of the acquisition of TVTel and Parfitel operations.

417 446496

540575

Strong Take-Up of Higher Value Digital Services

“Funtastic” Digital Subscribers“Funtastic” Digital Subscribers“Funtastic” Digital Subscribers“Funtastic” Digital Subscribers[thousands]

ZON Boxes InstalledZON Boxes InstalledZON Boxes InstalledZON Boxes Installed[thousands]

+37.9%+37.9%+37.9%+37.9%

91

184

285

+5.4x+5.4x+5.4x+5.4x

≈ ≈ ≈ ≈ 40% 40% 40% 40%

withoutwithoutwithoutwithout PVRPVRPVRPVR

2Q08 3Q08 4Q08 1Q09 2Q09

13

13

+17.1 +29.0 +50.0 +43.7 +35.3+17.1 +29.0 +50.0 +43.7 +35.3+17.1 +29.0 +50.0 +43.7 +35.3+17.1 +29.0 +50.0 +43.7 +35.3

53

91

3Q08 4Q08 1Q09 2Q09

Take-up of higher value digital services driving ARPU growth;

Only a year after launch, the TV experience-enhancing ZON Box is proving very successful;

[Net Adds

thousands]

7

16

30

431 451519 546 573

204254

347

419479

Broadband, Fixed Voice and Mobile – Very Strong

Momentum

Broadband SubscribersBroadband SubscribersBroadband SubscribersBroadband Subscribers[thousands]

+32.9%+32.9%+32.9%+32.9%

Fixed Voice SubscribersFixed Voice SubscribersFixed Voice SubscribersFixed Voice Subscribers[thousands]

+134.8%+134.8%+134.8%+134.8%

Mobile SubscribersMobile SubscribersMobile SubscribersMobile Subscribers[thousands]

+4,1x+4,1x+4,1x+4,1x

[Net Adds thousands]

4Q08 1Q09 2Q092Q08 3Q08 4Q08 1Q09 2Q09 2Q08 3Q08 4Q08 1Q09 2Q09

14

14

+14.9 +20.2 +28.0 +27.0 +26.5+14.9 +20.2 +28.0 +27.0 +26.5+14.9 +20.2 +28.0 +27.0 +26.5+14.9 +20.2 +28.0 +27.0 +26.5 +65.2 +50.1 +73.2 +72.8 +59.2+65.2 +50.1 +73.2 +72.8 +59.2+65.2 +50.1 +73.2 +72.8 +59.2+65.2 +50.1 +73.2 +72.8 +59.2 +7.2 +8.5+7.2 +8.5+7.2 +8.5+7.2 +8.5 +13.7+13.7+13.7+13.7

In Broadband, the pace of growth was maintained above 25k subs per quarter;

Around 60k net adds of Fixed Voice during 2Q09;

New Mobile business increasing pace, with 13.7k net adds in the quarter;

31,832,0

32,432,7

33,6

Driving ARPU Growth

Blended ARPUBlended ARPUBlended ARPUBlended ARPU[euros]

+5.5%+5.5%+5.5%+5.5%

Cable & DTH ARPU y.o.y. Growth in 2Q09 Cable & DTH ARPU y.o.y. Growth in 2Q09 Cable & DTH ARPU y.o.y. Growth in 2Q09 Cable & DTH ARPU y.o.y. Growth in 2Q09 [%]

8,2%

(6,1%)

2Q08 3Q08 4Q08 1Q09 2Q09

15

15

Premium between Cable and DTH ARPUPremium between Cable and DTH ARPUPremium between Cable and DTH ARPUPremium between Cable and DTH ARPU[%]

1,0

2,2

1P 3P

Multiple Service ARPU DifferentiationMultiple Service ARPU DifferentiationMultiple Service ARPU DifferentiationMultiple Service ARPU Differentiation[Rebased]

Cable DTH

18,8%

36,9%

2Q08 2Q09

3. Supported by Solid Financial Indicators


334

363

Pay TV, Broadband and VoicePay TV, Broadband and VoicePay TV, Broadband and VoicePay TV, Broadband and Voice[millions of euros]

Revenues Driven by RGUs and ARPU Growth

Operating RevenuesOperating RevenuesOperating RevenuesOperating Revenues[millions of euros]

373,6

400,6

+7.2%+7.2%+7.2%+7.2% +8.6%+8.6%+8.6%+8.6%

+10.1%+10.1%+10.1%+10.1%

Excluding Excluding Excluding Excluding

Advertising Advertising Advertising Advertising

1H08 1H09

28,927,4

1H08 1H09

22,024,4

1H08 1H09

17

17

AudiovisualsAudiovisualsAudiovisualsAudiovisuals[millions of euros]

CinemaCinemaCinemaCinema[millions of euros]

1H08 1H09

+11.3%+11.3%+11.3%+11.3%(5.1)%(5.1)%(5.1)%(5.1)%

121,3130,8

1H08 1H09

32.5%32.5%32.5%32.5% 32.7%32.7%32.7%32.7%

252,3269,8

1H08 1H09

Operational Profitability – Solid EBITDA GrowthEBITDA and EBITDA MarginEBITDA and EBITDA MarginEBITDA and EBITDA MarginEBITDA and EBITDA Margin[millions of euros; %]

+7.8%+7.8%+7.8%+7.8%+6.9%+6.9%+6.9%+6.9%

Total Operating CostsTotal Operating CostsTotal Operating CostsTotal Operating Costs[millions of euros]

18

Operating Operating Operating Operating

CostsCostsCostsCosts(millions of euros)

1H091H091H091H09 ∆ % % % % DriversDriversDriversDrivers

Impact of acquisitions and internalization of several functions;

Impact of Share Plan;

Lower Programming Costs - impact of SIC and other content contracts renegotiation;

Decline in advertising share revenue with content providers, due to decreasing advertising

revenues;

Higher sales commission charges, due to high level of commercial activity;

Increase in COGS due to growth of Mobile subscriber base and subsequent increase of

handsets sold;

Other Other Other Other

Operating Operating Operating Operating

CostsCostsCostsCosts

93.4 9.5%Higher customer care, maintenance and repair costs, due to increasing number of services

subscribed by customers.

Commercial Commercial Commercial Commercial

CostsCostsCostsCosts39.1 41.1%

W&SW&SW&SW&S 27.5 19.4%

Direct CostsDirect CostsDirect CostsDirect Costs 109.9 (5.6%)

41,1

29,156,3

85,8

Net Income

Net IncomeNet IncomeNet IncomeNet Income[millions of euros]

D&AD&AD&AD&A[millions of euros]

+52.3%+52.3%+52.3%+52.3% (29.2)%(29.2)%(29.2)%(29.2)%

1H08 1H091H08 1H09

19

19

TOTAL NET RESULTS OF 29.1 MILLION EUROS IN 1H09

Depreciation increased by 52.3% to

85.8 million euros, driven by higher

investment in terminal equipment

and long term contracts

Net financial results were marginally

negative by 0.03 million euros, with

net interest charges amounting to

14.7 million euros.

65,1

90,6

Customer-Driven CAPEX y.o.y. Increase

Total CAPEXTotal CAPEXTotal CAPEXTotal CAPEX[millions of euros]

+39.2%+39.2%+39.2%+39.2%

Increase mostly due to upgrade

to Eurodocsis 3.0 and cell

10,30,9

19,6 44,2

6,4

4,828,8

40,765,1

Non-Recurrent CAPEX Terminal Equipment

Other Recurrent CAPEX Pay TV, Broadband and Voice Infrastructure

20

20

to Eurodocsis 3.0 and cell

splitting

Increase mostly due to the

installation of a greater amount

of terminal equipment

Sound Capital Structure and Adequate Debt

Maturity

Net Financial DebtNet Financial DebtNet Financial DebtNet Financial Debt[millions of euros]

Net Financial Debt / EBITDANet Financial Debt / EBITDANet Financial Debt / EBITDANet Financial Debt / EBITDA[x]

2,51H09

24,8

638,8

Long Term Contracts

Other items

1H09

(10.8)

21

21

2,32008

552,5

52,2

(40,2)

14,8

45,5

24,8

2008

Working Capital

EBITDA - CAPEX

Interest Paid

Dividends

Long Term Contracts

4. Wrap Up


Wrap Up

One of the highest growth companies of the peer group: +7.2% y.o.y.

growth in Revenues, +8.6% in core Pay TV, Broadband and Voice business

Focus on profitable growth with EBITDA increasing above Revenues:

+7.8% y.o.y.

23

23

Rational investment strategy – customer driven growth CAPEX to secure

market share with attractive returns on investment, leveraging scalability

of HFC network in place

Commitment to shareholder remuneration – dividend payment of 100%,

one of the most attractive in peer group with a clear path to increasing

future cash flow generation

Appendix


• Financial Highlights

• Operational Highlights

Financial Highlights

(Millions of Euros) 2Q08 2Q09 ∆ y.o.y. 1H08 1H09 ∆ y.o.y.

Operating RevenuesOperating RevenuesOperating RevenuesOperating Revenues 186.4186.4186.4186.4 199.1199.1199.1199.1 6.8%6.8%6.8%6.8% 373.6373.6373.6373.6 400.6400.6400.6400.6 7.2%7.2%7.2%7.2%

Pay TV, Broadband and Voice 168.4 180.9 7.4% 334.0 362.7 8.6%

Audiovisuals 14.0 13.1 (6.5%) 28.9 27.4 (5.1%)

Cinema Exhibition 9.2 11.8 28.7% 22.0 24.4 11.3%

Other (5.2) (6.8) 29.7% (11.2) (14.0) 24.4%

EBITDA EBITDA EBITDA EBITDA (1 )(1 )(1 )(1 ) 62.562.562.562.5 66.566.566.566.5 6.5%6.5%6.5%6.5% 121.3121.3121.3121.3 130.8130.8130.8130.8 7.8%7.8%7.8%7.8%

Income from Operations (2) 33.1 26.7 (19.3%) 65.0 45.0 (30.7%)

NET INCOMENET INCOMENET INCOMENET INCOME 20.320.320.320.3 9.69.69.69.6 (52.5%)(52.5%)(52.5%)(52.5%) 41.141.141.141.1 29.129.129.129.1 (29.2%)(29.2%)(29.2%)(29.2%)

25

25

NET INCOMENET INCOMENET INCOMENET INCOME 20.320.320.320.3 9.69.69.69.6 (52.5%)(52.5%)(52.5%)(52.5%) 41.141.141.141.1 29.129.129.129.1 (29.2%)(29.2%)(29.2%)(29.2%)

CAPEXCAPEXCAPEXCAPEX 40.440.440.440.4 44.944.944.944.9 11.2%11.2%11.2%11.2% 65.165.165.165.1 90.690.690.690.6 39.2%39.2%39.2%39.2%

EBITDA minus CAPEXEBITDA minus CAPEXEBITDA minus CAPEXEBITDA minus CAPEX 22.122.122.122.1 21.621.621.621.6 (2.1%)(2.1%)(2.1%)(2.1%) 56.256.256.256.2 40.240.240.240.2 (28.4%)(28.4%)(28.4%)(28.4%)

Net Financial DebtNet Financial DebtNet Financial DebtNet Financial Debt 339.5339.5339.5339.5 638.8638.8638.8638.8 88.1%88.1%88.1%88.1% 339.5339.5339.5339.5 638.8638.8638.8638.8 88.1%88.1%88.1%88.1%

EBITDA margin (%)EBITDA margin (%)EBITDA margin (%)EBITDA margin (%) 33.5%33.5%33.5%33.5% 33.4%33.4%33.4%33.4% (0.1pp)(0.1pp)(0.1pp)(0.1pp) 32.5%32.5%32.5%32.5% 32.7%32.7%32.7%32.7% 0.2pp0.2pp0.2pp0.2pp

CAPEX as % of RevenuesCAPEX as % of RevenuesCAPEX as % of RevenuesCAPEX as % of Revenues 21.7%21.7%21.7%21.7% 22.6%22.6%22.6%22.6% 0.9pp0.9pp0.9pp0.9pp 17.4%17.4%17.4%17.4% 22.6%22.6%22.6%22.6% 5.2pp5.2pp5.2pp5.2pp

Net Financial Debt / EBITDA [x] Net Financial Debt / EBITDA [x] Net Financial Debt / EBITDA [x] Net Financial Debt / EBITDA [x] 1.5x1.5x1.5x1.5x 2.5x2.5x2.5x2.5x n.a.n.a.n.a.n.a. 1.5x1.5x1.5x1.5x 2.5x2.5x2.5x2.5x n.a.n.a.n.a.n.a.

(1) EBITDA = income from operations + depreciation and amortisation. (2) Income from operations = income before financials and income taxes + work force reduction programme costs + impairment of goodwill + losses (gains) on disposal o f fixed assets + other costs/income.

Operational Highlights

2Q08 2Q09 ∆ y.o.y. 1H08 1H09 ∆ y.o.y.

Homes Passed ('000)Homes Passed ('000)Homes Passed ('000)Homes Passed ('000) 2.7952.7952.7952.795 3.0753.0753.0753.075 10,0%10,0%10,0%10,0% 2.7952.7952.7952.795 3.0753.0753.0753.075 10,0%10,0%10,0%10,0%

RGUs ('000)RGUs ('000)RGUs ('000)RGUs ('000) 2.6082.6082.6082.608 3.2473.2473.2473.247 24,5%24,5%24,5%24,5% 2.6082.6082.6082.608 3.2473.2473.2473.247 24,5%24,5%24,5%24,5%

Basic Subscribers 1.557 1.591 2,2% 1.557 1.591 2,2%

"Funtastic" Digital Subscribers 417 575 37,9% 417 575 37,9%

Broadband Internet 431 573 32,9% 431 573 32,9%

Fixed Voice 204 479 134,8% 204 479 134,8%

Mobile - 30 n.a. - 30 n.a.

Net Adds RGUs ('000)Net Adds RGUs ('000)Net Adds RGUs ('000)Net Adds RGUs ('000) 93,793,793,793,7 130,7130,7130,7130,7 39,5%39,5%39,5%39,5% 195,6195,6195,6195,6 264,9264,9264,9264,9 35,4%35,4%35,4%35,4%

Pay TV, Broadband and Voice




26

26

Net Adds RGUs ('000)Net Adds RGUs ('000)Net Adds RGUs ('000)Net Adds RGUs ('000) 93,793,793,793,7 130,7130,7130,7130,7 39,5%39,5%39,5%39,5% 195,6195,6195,6195,6 264,9264,9264,9264,9 35,4%35,4%35,4%35,4%

Basic Subscribers (4) (4) 10,1% 10 (22) n.a.

"Funtastic" Digital Subscribers 17 35 106,3% 35 79 126,7%

Broadband Internet 15 26 77,7% 31 54 75,1%

Fixed Voice 65 59 (9,3%) 120 132 9,7%

Mobile - 14 n.a. - 22 n.a.

Blended ARPU (€)Blended ARPU (€)Blended ARPU (€)Blended ARPU (€) 31,831,831,831,8 33,633,633,633,6 5,5%5,5%5,5%5,5% 31,731,731,731,7 33,133,133,133,1 4,5%4,5%4,5%4,5%

Revenues per ticket (€)Revenues per ticket (€)Revenues per ticket (€)Revenues per ticket (€) 4,04,04,04,0 4,44,44,44,4 9,3%9,3%9,3%9,3% 4,04,04,04,0 4,34,34,34,3 6,8%6,8%6,8%6,8%

Tickets sold ( '000)Tickets sold ( '000)Tickets sold ( '000)Tickets sold ( '000) 1.5091.5091.5091.509 1.7301.7301.7301.730 14,6%14,6%14,6%14,6% 3.7083.7083.7083.708 3.6803.6803.6803.680 (0,8%)(0,8%)(0,8%)(0,8%)





Cinema

Cinema

Cinema

Cinema

Exhibition

Exhibition

Exhibition

Exhibition

Contacts

José Pedro Pereira da Costa

CFO

Maria João Carrapato

Head of Investor Relations

27

[email protected]

ZON Multimedia

Avenida 5 de Outubro, 208

1069-203 Lisboa, Portugal

Tel.: +351 21 782 47 25

Fax: +351 21 782 47 35

Documents

2Q09 RESULTS ANNOUNCEMENT PRESENTATION …2009/07/31 · 2Q09 RESULTS ANNOUNCEMENT PRESENTATION 31 JULY 2009 DISCLAIMER This presentation contains forward looking information, including