Telekom Austria 4Q Profit Fell; Revenue Rose

   By Giulia Petroni

Telekom Austria AG said late Tuesday that net income in the fourth-quarter fell while total revenue rose.

The Vienna-listed company had a quarterly net profit of 35.3 million euros ($38.5 million) compared with EUR42.5 million in the previous year. The company attributed this decrease to higher deferred tax expenses due to an appreciation of affiliates.

Revenue was up 4.1% to EUR1.20 billion from EUR1.15 billion.

Excluding restructuring costs, earnings before interest, taxes, depreciation and amortization grew 8.2% to EUR376.5 million driven by higher service revenue, the company said.

In the full-year, net profit rose to EUR327.4 million from EUR243.7 million in 2018, Telekom Austria said. Revenue was up 2.9% on year driven by Central and Eastern Europe markets.

The company said the board will propose a dividend of EUR0.23 a share for 2019 at the annual general meeting this year.

Looking ahead, Telekom Austria said it expects approximately 1% to 2% higher revenue and capital expenditure at EUR770 million, excluding spectrum investments and acquisitions.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

February 12, 2020 01:53 ET (06:53 GMT)

Telekom Austria (PK) (USOTC:TKAGY)
Historical Stock Chart
From Jun 2024 to Jul 2024