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Telekom Austria posts H1 net loss on impairment charge

2014-08-13 11:44:00| Telecompaper Headlines

(Telecompaper) Telekom Austria Group has reported a net loss of over EUR 300 million in first-half 2014 due to an impairment charge to write down assets in Eastern Europe. The charge of EUR 400 million for Mobiltel in Bulgaria resulted in a negative net result of EUR 317.8 million at the Group level. Group revenues declined 7.3 percent year-on-year to EUR 1.94 billion, due to weak revenues in Austria, Bulgaria and Croatia. EBITDA comparable for H1 2014 was EUR 619.4 million, down 7.2 percent from a year earlier, and the EBIT loss was EUR 222.6 million, compared to a positive EBIT of EUR 223.3 million in H1 2013. The difficult economic conditions in eastern Europe and ongoing price pressure in Austria led the operator to downgrade its outlook for the full year. It now expects revenues down around 3.5 percent, versus an earlier outlook or 3.0 percent lower, and the capex budget was lowered to EUR 650-700 million from EUR 700 million previously.

Tags: net posts loss charge

European Commission approves EYLEA Injection for treatment of visual impairment due to DME

2014-08-11 12:16:33| Biotech - Topix.net

Regeneron Pharmaceuticals, Inc. today announced that EYLEA Injection has been approved by the European Commission for the treatment of visual impairment due to Diabetic Macular Edema .

Tags: to due treatment visual

Maersk Oil to book $1.7bn impairment on Brazilian assets

2014-07-09 01:00:00| Offshore Technology

Maersk Oil, a subsidiary of AP Moller-Maersk, has decided to book a $1.7bn impairment on its Brazilian assets as the company revises strategy in the region.

Tags: book oil assets brazilian

Tufco Technologies posts 4Q loss on impairment

2014-01-02 20:10:37| Paper - Topix.net

Tufco Technologies Inc. , a Green Bay-based contract manufacturer of wet and dry wipes converting and provider of business imaging services, said its 2013 fourth-quarter sales were $22 million, 24 percent less than it reported for the 2012 fourth quarter.

Tags: posts loss technologies impairment