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Using for comparison a big onion down, the president of the telecommunications company of Bogotá (ETB), Jorge Castellanos Rueda, explains that the results of the profits of the phone, presented last Friday at the general meeting of the shareholders, they are only the outer part, that is, the visible.
Behind everything, he warns, there are some middle and deeper layers, such as corporate governance, that have led to these early results.
Given the context, in 2016, upon their arrival, they found an ETB in a difficult financial and operational situation, even though it recognizes the existence of badets such as fiber optics.
Previously, they had bought everything from TV, mobile phone and satellite companies to a Cucuta company. All without exploding.
The proposed goal for 2015 was to have 909,000 fiber optic customers, but they received only 108,000.
He said that they gave the company an extraordinary return.
What does it mean to have, after four years, profits of 42,000 million pesos?
A deep satisfaction because they arrived faster than expected. We received a company with a difficult situation, but with forces that did not exploit them. The financial situation was difficult.
How do they get these results if the ETB was about to be sold?
On the basis of a structural improvement of the company, according to the three axes that we define, which summarize all the work of the company and allow people to focus on what we aim for: efficiency , sales and service. It was a combination of austerity and efficiency, a commercial effort to attract customers, improve operations, and keep accounts accurate.
Has the company been valued?
Yes
And how much is in stock?
Our action does not reflect true value.
What message do you send to shareholders, to citizens?
For the first time in many years, ETB is sustainable and, for the first time, we tend to add value to all indicators on a permanent basis. That we come to the competition, we reveal our strengths because it allows us to place the highest stick and we will compete as we had not done before.
Investors must hold us accountable, be willing to discuss everything
How to jump this stick?
First, continue to maintain good governance, that is, to manage society well. Have the best goal, the best interest of the company as guidelines to value it. It is the essence of good government. Second, have government agencies such as a professional board of directors, well trained in what they do. I have a mix of district employees and top level managers from the private sector. They must guide us, ask us, control us. Investors must ask us to be accountable, be willing to discuss anything. We must have long-term plans.
And what do you propose in this regard for the future of society?
Let us sit among those of us who are here or who will be, or those who aspire to be, and discuss where this society should go. We have taken a direction that is our interpretation and what I am saying is that optical fiber is what is best. Another person might say that it's mobile, and that's the value of the company …. It's the strategic discussions. Other companies have followed the path of mobile. That's what I call a strategic plan. We must have the best interest of our groups, owners, employees, customers and the city.
And how to avoid risks?
We must have mechanisms that prevent things from being done or things that are very imprudent. The ETB had no future, the box collapsed. We deliver it with money, growing customers, more and more refined products with service. They are 10 years of change. Service should be the number one priority, it is our secret weapon.
If he was the owner, would he sell it?
I believe in this business and I believe it can generate value.
What will happen to ETB when the next "owner" arrives?
This owner tried to sell it (a court decision overturned the section of the development plan that allowed the alienation). What we need to do is have a business as solid as possible. Our obligation is to count the simplest layers to understand and, in the end, someone must decide what is north.
How many ETB customers does it count in fiber optics?
At the beginning of 2016, we had 108,000 and today we have 338,000. On television, we went from 56,000 to 124,000; on mobile phones, from 390,000 to 486,000. The most important is that we sell aggressively. We have the best products, especially in fiber optics, and we have managed to sell at a very difficult pace in a very competitive industry. Leave one with a new product and take it in three years to have three times the number of customers is not easy. Our competitors are not mutilated.
What will they do with these profits and what market will they target in Bogotá?
Bogotá is 80% between layers 2 and 4. We are a gigantic company and it is our market. We will be there. There we are today with copper, an old technology, and we will offer you the best optical fiber at competitive prices. ETB, we are the only ones to have a mbadive optical fiber, although competitors are already starting to install it.
HUGO PARRA
Editor Bogotá
[email protected]
On Twitter: @hugoparragomez
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