AUSTRIA: TELEKOM LOSS SMALLER THAN EXPECTED
Article Abstract:
Telekom Austria reports a group loss for the year of EUR 285.6mn in 2000, which is only half the forecast loss. Turnover increased 3.4% to EUR 3.905bn. For 2001 the former monopoly expects a 20% increase in ebitda to EUR 1.2bn. In 2000 earnings before interest and taxes from fixed-line telephony amounted to a loss of EUR 295.4mn, compared with a profit of EUR 290.3mn in 1999. The mobile phone arm Mobilkom saw a 15.6% increase in profit to EUR 261.1mn and Datakom 42.5% to EUR 22.8mn. Losses from the internet sector decreased 10.7% to EUR 2.5mn. In 2001 the restructuring programme of Telekom Austria should yield savings of about EUR 100mn. The programme involves the reduction of 3,000 jobs in 2001, the concentration of locations, reducing the number of suppliers, combining investments, intensifying controlling and investing in broad-band technology, internet and mobile telephony. The fall of the market share (to 63%) is to be stopped by means of marketing measures. Also the umbrella brand Jet2Web is to be made better known. Heinz Brasic has resigned as marketing director of Telekom Austria.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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Austria: Telekom share to be put in trust
Article Abstract:
The state holding company's (OIAG) share of Telekom Austria could be put in trust before being sold. A consortium of Austrian and international financial companies could act as trustees for the 47.8% share. It is unlikely that an investor in the telecoms sector will be able to be found for Telekom Austria, as it is unlikely that a telecoms company would be able to afford the necessary Sch 70bn. It is much more likely that an international financial company would be the buyer.
Publication Name: Presse
Subject: Business, international
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Year: 2001
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