Deutsche Telekom Swings To Net Profit, Sales Slightly Lower

Date : 05/12/2010 @ 1:45AM
Source : Dow Jones News
Stock : Hellenic Telecommunications Organization S.A. (OTE)
Quote : 3.61  0.0 (0.00%) @ 2:05AM

Deutsche Telekom Swings To Net Profit, Sales Slightly Lower

Deutsche Telekom (NYSE:DT)
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Deutsche Telekom AG (DT) Wednesday swung to a first-quarter net profit despite slightly lower sales, as it benefited from easy comparables.

Net profit for the quarter ended March 31 was EUR767 million after a net loss of EUR1.12 billion a year ago, when the company's bottom line was weighed down by a EUR1.8 billion impairment charge on the goodwill of its U.K operations. T-Mobile, its U.K. mobile operation, is now part of Everything Everywhere, a joint venture with France Telecom's (FTE) Orange.

Sales for the period declined 0.6% to EUR15.81 billion.

Closely watched adjusted earnings before interest, tax, depreciation and amortization, or Ebitda, the company's preferred measure of operating performance, still rose 1.6 % to EUR4.89 billion.

Deutsche Telekom results beat expectations for sales of EUR15.61 billion and met expectations for adjusted Ebitda of EUR4.88 billion, according to a Dow Jones Newswires poll of 10 analysts.

Deutsche Telekom did not revise its 2010 outlook but amended it for the deconsolidation of its U.K. operations. It now expects full year adjusted Ebitda EUR400 million to EUR500 million below the previous guidance of around EUR20 billion and an unchanged free cash flow of around EUR6.2 billion.

Deutsche Telekom shares closed Tuesday at EUR8.82.

Company Web site: www.telekom.de

-By Archibald Preuschat, Dow Jones Newswires; +49 211 13872 18; archibald.preuschat@dowjones.com

 
 



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