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Telekom Austria Q4 sales flat, EBITDA continues lower

2013-02-28 08:22:00| Telecompaper Headlines

(Telecompaper) Telekom Austria reported annual results slightly better than expected, while forecasting a continued drop in revenues in 2013. Sales in 2012 fell 2.8 percent to EUR 4.33 billion, hurt by difficult markets in Austria and Bulgaria. Comparable EBITDA came in at EUR 1.46 billion, down 4.7 percent from 2011 but at the top of the operator's guidance. Revenues were also better than the EUR 4.2 billion forecast for the year. In the fourth quarter, revenues were up 0.2 percent to EUR 1.12 billion, while EBITDA fell 5.4 percent to EUR 318.8 million. Due to positive tax and financing effects, net profit for the full year came in at EUR 103.8 million, versus a loss of EUR 252.8 million in 2011. Capex fell by 1.5 percent to EUR 728.2 million. Telekom Austria said it expects the price pressure in Austria and difficult economic climate throughout Europe to continue in 2012, leading to a further drop in revenues to around EUR 4.1 billion. Capex will fall to around EUR 700 million, and the focus will be on reducing net debt to less than 2.0 times EBITDA in the medium term, versus 2.2 at the end of 2012. Telekom Austria cut its dividend to EUR 0.05 per share for 2012 and said it will pay the same amount for 2013.

Tags: sales lower flat austria

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