Czech Telefonica 3Q Net Meets Expectations, Confirms Guidance
November 10 2011 - 10:32AM
Dow Jones News
Telefonica Czech Republic AS (BAATELEC.PR), a unit of Spain's
Telefonica SA (TEF), Thursday reported a 63% annual fall in
third-quarter net profit, in line with expectations, due to a
significant impairment in the period. The company also confirmed
2011 guidance.
MAIN POINTS:
- Third-quarter net profit fell to CZK2.21 billion ($117.2
million), while net profit in the Jan-Sept period was CZK5.82
billion.
- The company took a CZK4.34 billion impairment charge in the
third quarter.
- Czech Telefonica said that without the impairment charge net
profit in the quarter would be down by 9.7% annually.
- Revenues in the third quarter fell 5.4% on year to CZK13.08
billion
- Operating income before depreciation and amortization, or
OIBDA, fell 4.8% on year in the quarter to CZK5.97 billion, while
in the first nine months OIBDA fell 6.1% on year to CZK16.82
billion.
- Czech Telefonica reiterated its outlook for full year
operating income before depreciation and amortization to decline
between 1% and 5% excluding the impairment.
-By Sean Carney, Dow Jones Newswires; +420 222 315 290;
sean.carney@dowjones.com