UPDATE: Deutsche Telekom 1Q Stable, US Operations Still Weak
12 Mayo 2010 - 1:45AM
Noticias Dow Jones
Deutsche Telekom AG (DT) Wednesday swung to a first-quarter net
profit despite slightly lower sales, as it benefited from easy
comparables, though its closely-watched U.S. operations remain
weak.
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.
Sales and operating profit have been boosted throughout 2009 by
the first-time consolidation of Hellenic Telecommunications
Organization SA (OTE) from February 2009. In the first quarter, the
effect was limited to just one month.
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.
Closely-monitored T-Mobile USA remained weak. It lost 77,000
subscribers on a net basis in the January-to-March quarter, level
with the subscriber loss in the thrird quarter 2009. Revenue
declined by 2.2% in dollar terms to $5.28 billion. In euros, the
sales decline was even worse, with a 7.8% slump. Still, the
adjusted Eitda margin improved by 0.8 percentage points to 26.4% in
the period.
Company website: www.telekom.com
-By Archibald Preuschat, Dow Jones Newswires; +49 211 13872 18;
archibald.preuschat@dowjones.com
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