Release of 08.05.2014
Today the Telekom Austria Group (VSE: TKA, OTC US: TKAGY) announces its results for the first quarter of 2014, ending 31 March 2014.
Highlights
- 7.0% year-on-year revenue decline driven by Austria and FX translation in Belarus; better trends in Bulgaria
- EUR 56.6 mn OPEX savings driven by lower subsidies in Austria
- Rising EBITDA-comparable margins in Austria and Bulgaria
- Austrian tariff initiatives continue with focus on existing contracts
- Croatian mobile remains challenging while growth in the Additional Markets segment continues
- Regulation shaves EUR 44.3 mn and EUR 14.4 mn off revenues and EBITDA comparable respectively
- Spectrum renewal in Bulgaria and spectrum auction in Slovenia result in total cost of EUR 94.5 mn
- Group guidance 2014 unchanged: Revenues approx. -3%, CAPEX approx. 700 mn, dividend EUR 0.05
- Croatia: Significant risk of potential increase of annual spectrum fees
- Syndicate agreement signed on 23 April will trigger mandatory takeover offer by mid-May (expected)
| in EUR million | Q1 2014 | Q1 2013 | % change |
|---|
| Revenues |
975.9 |
1,049.0 |
-7.0% |
| EBITDA comparable |
319.9 |
336.9 |
-5.0% |
| Operating income |
97.4 |
117.8 |
-17.4% |
| Net income |
40.8 |
55.5 |
-26.5% |
| Cash flow generated from operations |
148.9 |
191.8 |
-22.4% |
| Earnings per share (in EUR) |
0.08 |
0.11 |
-31.1% |
| Free cash flow per share (in EUR) |
0.12 |
0.10 |
17.9% |
| Capital expenditures |
99.4 |
149.0 |
-33.3% |
|
in EUR million
| 31 Mar 2014 | 31 Dec 2013 | % change |
|---|
| Net debt |
3,670.5 |
3,695.8 |
-0.7% |
| Net debt / EBITDA comparable (12 months) |
2.9 |
2.9 |
0.6% |
All financial figures are based on IFRS; if not stated otherwise, all comparisons are given year-on-year. EBITDA comparable is defined as net income excluding financial result, income tax expense, depreciation and amortisation, restructuring and impairment charges.