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Nokia posts small underlying profit in Q3, shipments improve

2013-10-29 12:07:00| Telecompaper Headlines

(Telecompaper) Nokia reported a small underlying profit for the third quarter, helped by reduced losses at its mobile phone business. Adjusted EPS was EUR 0.01, versus a loss of EUR 0.07 a year earlier, while revenues were down 22 percent year-on-year to EUR 5.662 billion. The adjusted operating profit more than doubled to EUR 215 million, and the company generated positive operating cash flow of EUR 9 million. The company's main division Devices & Services met its outlook for an adjusted operating margin of around minus 2 percent, with a result of 1.6 percent, and revenues improved sequentially by 6 percent to EUR 2.898 billion, thanks to quarterly growth in shipments of both smartphones and feature phones. Nokia said it expects Devices & Services to remain in the red in Q4, when it will start reporting the unit as discontinued activities, pending completion of the planned sale of the mobile phone business to Microsoft.

Tags: small posts improve profit

Underlying Ocean Water Melting Ice Shelf, Accelerating Glacier Movement

2013-09-13 19:02:00| Climate Ark Climate Change & Global Warming Newsfeed

Nature World News: Rising ocean temperatures, not atmospheric temperatures, are melting the Antarctic floating ice shelf Pine Island Glacier and possibly other ice shelves, an international team of researchers found. The scientists examined the remote glacier, which represents a major outlet of the West Antarctic Ice Sheet, in hopes shedding new light behind its rapid thinning in recent years. By placing a variety of instruments deep below the ice's surface and using radar to map the underside of the ice shelf...

Tags: water ice movement ocean

Telefonica underlying sales down 1.6%, net profit improves

2013-05-08 08:47:00| Telecompaper Headlines

(Telecompaper) Telefonica reported first-quarter revenues down 8.8 percent year-on-year to EUR 14.14 billion, hurt by exchange rate effects and divestments. On an organic basis, revenues fell just 1.6 percent, mainly due to cuts in termination rates. Latin America posted organic growth of 6.8 percent for revenues of EUR 7.23 billion, while Europe recorded a drop of 10.5 percent to EUR 6.68 billion. Group OIBDA fell 10.1 percent to EUR 4.57 billion and was down 0.1 percent on an organic basis, while net profit improved to EUR 902 million from EUR 748 million a year earlier, thanks to lower interest costs. Capex rose 13.4 percent to EUR 1.94 billion, as higher costs in Europe, primarily for spectrum in the UK, were offset by a 31 percent cut in spending in Latin America. Operating cash flow improved 9.6 percent to EUR 2.63 billion. Net debt was up by EUR 550 million compared to the end of 2012, at EUR 51.81 billion or 2.44 times OIBDA, due mainly to the Venezuelan Bolivar devaluation. However Telefonica said its recent refinancing meant its debt coming due was covered through 2014. The company reiterated its outlook for full-year results, for revenue growth, a lower OIBDA margin decline than the 1.4 percent drop in 2012, net debt of less than EUR 47 billion and capex at around 14 percent of sales.

Tags: net sales profit underlying

What is the underlying value of EU carbon?

2013-03-13 08:59:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: The uncertainty over prospects for the European Union emissions trading scheme is so great that it justifies current low carbon permit prices - which may even be a little high by one method of estimating underlying value. The scheme faces a range of possible outcomes in this decade. These range from a cancellation of up to 1,900 million or so surplus EU allowances (EUAs) following on from reforms now being planned and which would greatly boost confidence, to total scrapping of the market, which...

Tags: value underlying carbon