Telekom Austria posts H1 net loss on impairment charge

Wednesday 13 August 2014 | 11:44 CET | News
Telekom Austria Group has reported a net loss of over EUR 300 million in first-half 2014 due to an impairment charge to write down assets in Eastern Europe. The charge of EUR 400 million for Mobiltel in Bulgaria resulted in a negative net result of EUR 317.8 million at the Group level. Group revenues declined 7.3 percent year-on-year to EUR 1.94 billion, due to weak revenues in Austria, Bulgaria and Croatia. EBITDA comparable for H1 2014 was EUR 619.4 million, down 7.2 percent from a year earlier, and the EBIT loss was EUR 222.6 million, compared to a positive EBIT of EUR 223.3 million in H1

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Categories: General
Companies: Telekom Austria Group
Countries: Austria / Eastern Europe
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