Results for the First Nine Months 2009
Vienna, November 12, 2009 - Telekom Austria Group (VSE: TKA, OTC US: TKAGY) today announced its results for the first nine months 2009 and the third quarter ending September 30, 2009.
Highlights
| ■ | Further improvement of Fixed Net operating trends with only a 1.3% access lines loss compared to end of September 2008 |
| ■ | Mobile Communication base grows by 8.6% year-on-year to 18.5 million customers despite a difficult economic environment |
| ■ | Revenues decline of 6.3% to EUR 3,620.5 million primarily driven by lower Fixed Net and roaming revenues as well as FX currency translation |
| ■ | Strict cost management reduces operating expenses by 4.9% and limits EBITDA decline to EUR 1,394.6 million |
| ■ | Net income reflects impairment charges of EUR 352.0 million related to investments in Belarus and in the Republic of Serbia |
| ■ | 2009 outlook for operating free cash flow of EUR 1.1 billion reiterated, Capex cuts compensating lower EBITDA due to FX, roaming, declining prices and impact from weaker economies |
| ■ | Management expects difficult market environment to prevail also in 2010 |
| ■ | Dividend per share floor of 75 cents per share reiterated for 2009–2012 |
| in EUR million | 3Q 09 | 3Q 08 | % change | 1-9M 09 | 1-9M 08 | % change |
|---|
| Revenues | 1,231.7 | 1,328.0 | -7.3% | 3,620.5 | 3,863.8 | -6.3% |
| EBITDA | 489.8 | 538.2 | -9.0% | 1,394.6 | 1,492.4 | -6.6% |
| Operating income | -126.4 | 260.0 | n.a | 223.9 | 636.4 | -64.8% |
| Net income | -136.3 | 162.9 | n.a | 31.3 | 388.9 | -92.0% |
| Earnings per share (in EUR) | -0.31 | 0.37 | n.a | 0.07 | 0.88 | -91.9% |
| Free cash flow per share (in EUR) | 0.48 | 0.56 | -14.5% | 1.23 | 1.29 | -5.0% |
| Capital expenditures | 154.5 | 184.0 | -16.0% | 419.8 | 534.3 | -21.4% |
| | | | | | | |
| in EUR million | | | | Sept. 30, 09 | Dec. 31, 08 | % change |
|---|
| Net debt | | | | 3,781.5 | 3,993.3 | -5.3% |
| Net debt/EBITDA (12 months) excluding restructuring program | | 2.1x | 2.1x | |
All financial figures are based on IFRS; if not stated otherwise, all comparisons are given year-on-year. EBITDA is defined as net income excluding interest, income tax expense, depreciation and amortization, impairment charges, equity in earnings of affiliates, income/loss from investments and foreign exchange differences. This equals operating income before depreciation, amortization and impairment charges.