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General

Portugal Telecom Q1 net profit falls 51.7%

Thursday 23 May 2013 | 14:47 CET | News
Portugal Telecom reported first-quarter net profit down 51.7 percent from a year earlier to EUR 26.7 million, hurt by an increase in financing costs and taxes. Revenues fell 9.5 percent to EUR 1.553 billion, hurt by the weaker Portuguese market and negative currency effects in Brazil. EBITDA fell a slower 7.9 percent to EUR 526.3 million, thanks to 10.3 percent reduction in operating costs. Capex increased 10.7 percent due to investments at Oi in Brazil to EUR 296.5 million, while operating cash flow was down 49.0 percent to EUR 57.9 million. Adjusted net debt increased to EUR 7.91 billion,

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Categories: General
Companies: Oi / Portugal Telecom
Countries: Portugal
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