Imark
Forumer storico
Trimestrale di Telekom Austria. la crisi in Est Europa, dove TA fa il 60% del proprio fatturato, comincia a farsi sentire, con la società che ha ridotto il forecast per il 2009 anche in conseguenza della svalutazione delle monete nazionali esteuropee contro l'euro, valuta contabile della società.
Il valore delle vendite si attesterà a 4,8 mld euro (contro i 5,1 del forecast precedente) e l'EBITDA a 1,8 mld euro (contro 1,9). Il tutto ai cambi attuali, senza dunque incorporare il peso di ulteriori fluttuazioni valutarie di qui a fine anno.
Intenzionata cmq a conseguire un free cash flow di 1,1 mld euro a fine 2009, la società ha ridotto il capex, che nel 2009 scenderà a 800 mln euro contro i 900 originariamente programmati.
Nel trimestre Q3, il valore del venduto è risultato in calo del 7,3%, l'EBITDA del 9%, per effetto tanto del deprezzamento valutario sopra indicato quanto del calo del consumo telefonico sui mercati est europei e della riduzioni degli introiti da roaming imposti dall'UE.
TA ha registrato una perdita netta nel trimestre, avendo deciso di operare un abbattimento del goodwill attinente alle acquisizioni della principale telecom bielorussa e della licenza per operatore di telefonia mobile in Serbia, le due ultime operazioni di espansione su mercati emergenti effettuate nel pre-Lehman.
Con l'esclusione di questa posta contabile, l'utile netto è calato a 122,7 mln euro contro i 162,9 mln del corrispondente Q3/2008.
L'outlook di TA per il 2010 è piuttosto grigio: la telecom prevede che le condizioni di debolezza macroeconomica persisteranno per tutto l'anno nei paesi est e sudeuropei, generando una situazione di mercato sfavorevole.
By Flemming Emil Hansen
Of DOW JONES NEWSWIRES
VIENNA (Dow Jones)--Telecommunications provider Telekom Austria AG (TKA.VI) Thursday said it swung to a net loss in the third quarter due to write-downs of Eastern European assets, and also lowered its full-year results guidance, mainly due to currency depreciation in Eastern Europe.
Austria's largest telephony company, and a major player in mobile phone services in Eastern Europe, furthermore said its management, on request from the supervisory board, is evaluating whether it should merge its domestic fixed line and mobile phone operations to improve its ability to offer competitive bunddled products and save costs.
"The results of this analysis will be discussed by the management and supervisory board in their next meetings. Telekom Austria wants to emphasize that the result of this evaluation is open," Telekom Austria said. The two segments were split into two individual divisions just three years ago.
Telekom Austria said it now expects full-year sales to come in at EUR4.8 billion, down from EUR5.1 billion expected previously, and Ebitda, to reach EUR1.8 billion, down from previous guidance of EUR1.9 billion. The new guidance is, however, based on actual currency as opposed to constant currency, Telekom Austria said.
The company attributed the lowered guidance to currency depreciations in some of its key Eastern European markets, and also said it has written down goodwill on its Belarussian and Serbian operations by EUR352 million in the third quarter.
Telekom Austria said it still aims to reach its free operative cashflow target of EUR1.1 billion in the full year, although now through a reduction in capital expenditure. Consequently, the capex guidance has ben lowered to EUR800 million from EUR900 million, it said.
"The main reasons for the lower outlook include negative currency effects, lower roaming revenue, falling prices and the negative impact from economic contraction in our most important foreign markets," a Telekom Austria spokeswoman told Dow Jones Newswires.
Telekom Austria's shares opened down 2.76% at EUR11.3 Thursday, but quickly recovered some lost ground. At 1406 GMT, the shares traded up 0.95%, or EUR0.11, at EUR11.7, against a Vienna ATX 20 index up 0.8%.
The company showed "weak earnings momentum," and in addition to the impact of the weak CEE region it experienced falling voice traffic in fixed-line and EU-imposed cuts on roaming revenue and in the fees operators charge each other to connect their networks.
"We see small downwards pressure to earnings that could put further pressure on the stock," Morgan Stanley concluded. Still, the investment bank stuck with its equal-weight rating and EUR14.5 price target.
Telekom Austria's net loss for the three months ended Sept. 30 was EUR136.2 million, after a net profit of EUR162.9 million in the year-earlier quarter. That missed analysts' forecasts by a wide margin. Nine analysts polled by Dow Jones Newswires had pegged net profit at EUR132 million.
Sales dropped 7.3% to EUR1.23 billion, from EUR1.33 billion a year earlier. Sales were slightly below analysts' estimates of EUR1.25 billion.
The much-watched core earnings before interest, tax, depreciation and amortization, or Ebitda, fell 9% in the quarter, to EUR489.8 million, from EUR538.2 million, also slightly missing analysts' EUR501 million average forecast.
Il valore delle vendite si attesterà a 4,8 mld euro (contro i 5,1 del forecast precedente) e l'EBITDA a 1,8 mld euro (contro 1,9). Il tutto ai cambi attuali, senza dunque incorporare il peso di ulteriori fluttuazioni valutarie di qui a fine anno.
Intenzionata cmq a conseguire un free cash flow di 1,1 mld euro a fine 2009, la società ha ridotto il capex, che nel 2009 scenderà a 800 mln euro contro i 900 originariamente programmati.
Nel trimestre Q3, il valore del venduto è risultato in calo del 7,3%, l'EBITDA del 9%, per effetto tanto del deprezzamento valutario sopra indicato quanto del calo del consumo telefonico sui mercati est europei e della riduzioni degli introiti da roaming imposti dall'UE.
TA ha registrato una perdita netta nel trimestre, avendo deciso di operare un abbattimento del goodwill attinente alle acquisizioni della principale telecom bielorussa e della licenza per operatore di telefonia mobile in Serbia, le due ultime operazioni di espansione su mercati emergenti effettuate nel pre-Lehman.
Con l'esclusione di questa posta contabile, l'utile netto è calato a 122,7 mln euro contro i 162,9 mln del corrispondente Q3/2008.
L'outlook di TA per il 2010 è piuttosto grigio: la telecom prevede che le condizioni di debolezza macroeconomica persisteranno per tutto l'anno nei paesi est e sudeuropei, generando una situazione di mercato sfavorevole.
- NOVEMBER 12, 2009, 9:47 A.M. ET
By Flemming Emil Hansen
Of DOW JONES NEWSWIRES
VIENNA (Dow Jones)--Telecommunications provider Telekom Austria AG (TKA.VI) Thursday said it swung to a net loss in the third quarter due to write-downs of Eastern European assets, and also lowered its full-year results guidance, mainly due to currency depreciation in Eastern Europe.
Austria's largest telephony company, and a major player in mobile phone services in Eastern Europe, furthermore said its management, on request from the supervisory board, is evaluating whether it should merge its domestic fixed line and mobile phone operations to improve its ability to offer competitive bunddled products and save costs.
"The results of this analysis will be discussed by the management and supervisory board in their next meetings. Telekom Austria wants to emphasize that the result of this evaluation is open," Telekom Austria said. The two segments were split into two individual divisions just three years ago.
Telekom Austria said it now expects full-year sales to come in at EUR4.8 billion, down from EUR5.1 billion expected previously, and Ebitda, to reach EUR1.8 billion, down from previous guidance of EUR1.9 billion. The new guidance is, however, based on actual currency as opposed to constant currency, Telekom Austria said.
The company attributed the lowered guidance to currency depreciations in some of its key Eastern European markets, and also said it has written down goodwill on its Belarussian and Serbian operations by EUR352 million in the third quarter.
Telekom Austria said it still aims to reach its free operative cashflow target of EUR1.1 billion in the full year, although now through a reduction in capital expenditure. Consequently, the capex guidance has ben lowered to EUR800 million from EUR900 million, it said.
"The main reasons for the lower outlook include negative currency effects, lower roaming revenue, falling prices and the negative impact from economic contraction in our most important foreign markets," a Telekom Austria spokeswoman told Dow Jones Newswires.
Telekom Austria's shares opened down 2.76% at EUR11.3 Thursday, but quickly recovered some lost ground. At 1406 GMT, the shares traded up 0.95%, or EUR0.11, at EUR11.7, against a Vienna ATX 20 index up 0.8%.
The company showed "weak earnings momentum," and in addition to the impact of the weak CEE region it experienced falling voice traffic in fixed-line and EU-imposed cuts on roaming revenue and in the fees operators charge each other to connect their networks.
"We see small downwards pressure to earnings that could put further pressure on the stock," Morgan Stanley concluded. Still, the investment bank stuck with its equal-weight rating and EUR14.5 price target.
Telekom Austria's net loss for the three months ended Sept. 30 was EUR136.2 million, after a net profit of EUR162.9 million in the year-earlier quarter. That missed analysts' forecasts by a wide margin. Nine analysts polled by Dow Jones Newswires had pegged net profit at EUR132 million.
Sales dropped 7.3% to EUR1.23 billion, from EUR1.33 billion a year earlier. Sales were slightly below analysts' estimates of EUR1.25 billion.
The much-watched core earnings before interest, tax, depreciation and amortization, or Ebitda, fell 9% in the quarter, to EUR489.8 million, from EUR538.2 million, also slightly missing analysts' EUR501 million average forecast.
