Telekom Austria's net loss widened to EUR 321.5 million in the fourth quarter, from EUR 61.3 million a year earlier, due to charges to account for hyperinflation at its operations in Belarus. The operator's revenues fell 4.7 percent year-on-year to EUR 1.12 billion, and adjusted EBITDA dropped 4.7 percent as well, to EUR 336.9 million. Excluding currency effects and the hyperinflation accounting in Belarus, Telekom Austria said revenues were up 3.9 percent. With the difficult economic environment expected to continue in 2012, Telekom Austria said it will focus on stabilising operating cash flow this year, through revenue generation, operating expense control and capital expenditure efficiency. The company forecast revenues this year of EUR 4.4 billion, down slightly on 2011, and stable adjusted EBITDA of EUR 1.5 billion. Capex is also expected little changed at around EUR 750 million, excluding any licences, while operating free cash flow is forecast at EUR 750 million as well. Telekom Austria confirmed a halving in its dividend to EUR 0.38 per share for 2011 and 2012, and said it will pay 55 percent of free cash flow from 2013.
