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Telekom Austria Group: Results for the First Nine Months 2003
VIENNA, Nov. 19 /PRNewswire-FirstCall/ -- Telekom Austria AG (VSE: TKA; NYSE:
TKA) today announced its results for the first nine months of 2003 and the third
quarter ending September 30, 2003.
During the first nine months of 2003 total group revenues increased by 1.8% to
EUR 2,951.3 million while adjusted EBITDA* increased by 1.9% to EUR 1,202.7
million.
Although unfavorable market trends continued to impact wireline revenues, the
adjusted EBITDA margin rose due to lower costs. The wireless business segment
saw further growth in spite of an unabating competitive environment in Austria.
Adjusted EBITDA was driven by the rising contribution from the international
business.
Total operating income increased by 0.4% to EUR 355.6 million.
During 1-9M 03 consolidated net income of Telekom Austria rose by 38.8% to EUR
155.4 million. The increase was driven by improved operating results, the
impact of the acquisition of the remaining 25% stake in mobilkom austria in June
2002, the higher shareholding in VIPnet (99%) and the gain from the sale of a
26% interest in Herold Business Data AG, the leading Austrian telephone
directory provider, in the amount of EUR 18.4 million during 3Q 03. Earnings
per share improved from EUR 0.22 to EUR 0.31.
Capital expenditures fell by 8.5% to EUR 339.4 million during 1-9M 03, including
the impact of the non-cash effect of adopting SFAS 143 amounting to EUR 7.7
million. Excluding the impact of SFAS 143 the decline amounts to 10.6%.
Quarterly figures show an increase in group revenues by 1.7% to EUR 1,019.4
million and a rise in adjusted EBITDA by 2.9% to EUR 423.1 million. Slightly
lower depreciation and amortization charges contributed to the increase in group
operating income by 10.5% to EUR 151.4 million during 3Q 03 compared to the same
period last year. Net income rose by 46.0% to EUR 84.1 million and group capex
declined by 6.2% to EUR 129.4 million.
Strong cash flow generation allowed a further reduction in the net debt to EUR
2,801.8 million at the end of September 2003, compared with EUR 3,204.2 million
at the end of December 2002. During the third quarter Telekom Austria
successfully placed its inaugural bond in the amount of EUR 750 million,
extending the company's debt maturity profile.
In November 2003 the supervisory board of Telekom Austria has decided to
establish an audit committee in line with the SEC requirements to oversee the
financial reporting of the Telekom Austria Group.
About Telekom Austria
Telekom Austria is Austria's leading provider of telecommunications services.
It was listed on the Vienna and New York stock exchanges in November 2000. The
Group has 2 main business areas: the wireline segment encompasses fixed line
telephony, data and Internet and the wireless segment mobile communications.
Telekom Austria has international operations in the Czech Republic, Croatia,
Slovenia and Liechtenstein. http://www.telekom.at/.
DATASOURCE: Telekom Austria AG
CONTACT: Martin Bredl, Company Spokesman, +43-0-059-059-1-11001,
of Telekom Austria; or Peter Ogden of Cubitt
Consulting, +44-0-20-7367-5100, , for Telekom Austria
AG
Web site: http://www.telekom.at/