Telekom Austria back in the black
The Telekom Austria Group (TA) in the first half of the year a net profit of 80.9 million euros (PDF file). In the first half of last year with a loss of 59.2 million euros had been to book. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by approximately 28 percent to 715 million euros. Although the number of customers increased, Group sales fell year on year by nearly five percent to 2.12 billion euros. The TA therefore had to correct their expectations for net income downward.
In Austria, Belarus, Bulgaria, Telekom Austria has reduced in the last twelve months of employment, in other markets, additional forces were set. In total, the number of employees has fallen by 1.4 percent to around 16,800 full-time employees. In the course of the current staff cutbacks offered social plans the result of the first half had loaded 2011 with about 219 million euros, this time for the post had just over 11 million euros will be spent.
In parallel, the number of customers has increased. The group concluded by end of June, 20.12 million mobile subscribers (up 3.9 percent year on year) and 2,580,000 fixed lines (up 6.4 percent). In Croatia, however, decreased the number of mobile customers in Austria and the TA had to say goodbye to nearly 50,000 fixed line customers. Since late 2008, it had managed to Austria subsidiary A1, the first stop to rapid migration from fixed to mobile. Thanks to strong demand for broadband access some slight growth in fixed lines. But now it's back down. In Belarus, business is good in itself, the high inflation of the Belarusian ruble, however, leads to conversion into euros to weaker results.
For the full year 2012 would implement the TA Manager 4.2 billion euros, so far they had run out of 4.4 billion. The target for adjusted EBITDA (excluding expenses for the workforce reduction and similar charges) has been revised by 50 to 100 million euros down. The dividend will also be held on the already halved value of 38 cents per share.
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