Telekom Austria AG
Telekom Austria AG: Results for the First Nine Months 2003
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement of Telekom Austria Part 1
Vienna, November 19, 2003 – 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%.
End of part 1 of ad hoc announcement of Telekom Austria. Follows part 2
end of ad-hoc-announcement (c)DGAP 19.11.2003
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Ad hoc announcement of Telekom Austria Part 2
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.
Note:
We have changed the label of our traditionally reported EBITDA to “adjusted
EBITDA” without any impact on the way in which we calculate the measure.
Adjusted EBITDA is defined as net income excluding interest, taxes,
depreciation, amortization, impairment charges, dividend income, equity in
earnings of affiliates, other non-operating income/expense, minority interests
and the cumulative effect of changes in accounting principles. The label for
EBIT was changed to operating income. All financial figures based on U.S. GAAP
and unaudited.
Further information please find on the website http://www.telekom.at
Hans Fruhmann
Head of Investor Relations
Tel: +43 (0) 59059 1 20917
E-Mail: hans.fruhmann@telekom.at
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WKN: 072000; ISIN: AT0000720008; Index: ATX
Listed: Amtlicher Handel in Wien; Freiverkehr in Düsseldorf, Frankfurt, München
und Stuttgart; New York (ADR)
190700 Nov 03
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