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KPN plans rights issue after weak Q4 results

2013-02-05 09:11:00| Telecompaper Headlines

(Telecompaper) KPN saw results deteriorate in the fourth quarter, mainly due to strong competition on the mobile market. Revenues fell 3.0 percent, or 2.4 percent on an underlying basis, to EUR 3.27 billion (including EUR 221 million in book gains). EBITDA fell 15 percent (underlying -16%) to EUR 1.12 billion, with the EBITDA margin losing almost 5 points to 34.2 percent. The operating result was EUR 129 million (-70%), and the net loss EUR 160 million (EUR 0.11 per share). The company's (reduced) targets for 2012 were reached as a whole, helped by asset sales. In the Netherlands, KPN said matters were stable; Germany meanwhile is heading towards a lower margin and lower sales growth. KPN said it will be forced to hold a rights issue of EUR 4 billion to strengthen the balance sheet. The operator has also formulated some new goals. For example, the Dutch broadband market share must be at least 40 percent and reach even 45 percent in the longer term. The mobile market share must be at least 40 percent. KPN has not excluded further job losses after 2013 as part of its efficiency measures.

Tags: rights results issue plans

 

NII gives weak view for 2013, shares plunge

2013-02-05 01:00:00| Total Telecom industry news

Latin American mobile operator's CEO admits 2012 performance fell short of expectations.

Tags: view shares weak nii

 
 

Japan carmakers Jan China sales jump after weak year-ago sales

2013-02-04 13:04:17| Auto Dealers - Topix.net

Showroom traffic in the world's largest auto market slows dramatically during China's Lunar New Year holiday, a week-long break that fell in January last year but starts on February 9 this year.

Tags: jan sales china japan

 

Cost cuts help Whirlpool counter weak demand

2013-01-31 22:56:53| Appliances - Topix.net

Whirlpool Corp reported a higher-than-expected quarterly profit and gave a strong outlook for 2013 on Thursday as price increases and cost cuts helped the world's largest appliance maker counter lackluster demand in Europe and North America.

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Will UPS's Gains From E-Commerce Offset A Weak Economy?

2013-01-31 09:38:53| Trucking - Topix.net

United Parcel Service will announce fourth quarter earnings on Thursday, January 31.

Tags: economy offset weak gains

 

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