Results for the First Quarter 2011
Highlights
| · | Continued strong demand for fixed and mobile broadband as well as for smartphones allow a Groupwide mobile broadband subscriber growth of 51.1% |
| · | Fixed access line growth of 7,300 lines in the first quarter 2011 |
| · | Continued slow down of Group revenue decline to 0.7% to EUR 1,118.0 mn despite a challenging
macro-economic environment, fierce competition and regulatory pressure |
| · | Group EBITDA comparable, which excludes restructuring and impairment charges, declines by 7.1% to EUR 396.7 million |
| · | High acceptance of the restructuring program prompts a restructuring charge in the amount of EUR 184.1 million leading to a net loss of EUR 79.2 million in the first quarter of 2011 |
| · | Lower investments in Croatia an Belarus lead to a reduction of capital expenditures of 11.7% to EUR 120.4 mn |
| · | Outlook 2011 reiterated: Revenues of up to EUR 4.60 bn, EBITDA comparable of up to EUR 1.60 bn and CAPEX of up to EUR 800 mn |
| · | Dividend floor of EUR 0.76 reiterated for the years 2011 and 2012 |
| in EUR million | Q1 2011 | Q1 2010 | % change |
|---|
| Revenues | 1,118.0 | 1,126.0 | -0.7% |
| EBITDA comparable | 396.7 | 426.8 | -7.1% |
| Operating income | -42.3 | 166.3 | n.a. |
| Net income | -79.2 | 91.2 | n.a. |
| Earnings per share (in EUR) | -0.18 | 0.21 | n.a. |
| Free cash flow per share (in EUR) | 0.07 | 0.37 | -81.8% |
| Capital Expenditures | 120.4 | 136.4 | -11.7% |
| | | | |
| in EUR million | March 31, 2011 | Dec. 31, 2010 | % change |
|---|
| Net Debt | 3,343.2 | 3,305.2 | 1.1% |
| Net Debt/EBITDA comparable (12 months) excluding restructuring program | 2.1x | 2.0x | |
| | | | |
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 amortization, restructuring and impairment charges.