Telefonica O2 Czech net profit falls as sales suffer
Wednesday, 28 July 2010 16:10
Operator reiterates full-year outlook despite 18% on-year drop in operating income.
Telefonica O2 Czech Republic AS, or T-O2, the country's largest telecommunications operator, Wednesday posted a 24% drop in first-half net profit as sales continued to suffer from the economic downturn.
T-O2, which is majority owned by Spain's Telefonica SA, said net profit in the six months to June 30 fell to CZK4.35 billion ($228 million) from CZK5.72 billion a year earlier.
T-O2's revenue was CZK27.89 billion in the first half, down 6.4% from CZK29.79 billion in the year-earlier period.
Although the company recorded a 18% year-on-year drop in its operating income before depreciation and amortization, or OIBDA, to CZK11.21 billion in the first half, it reiterated its outlook for full-year OIBDA to fall between 5% and 9% for the whole year.
T-O2 shares closed down 0.4% or CZK1.5 on the day at CZK428.5 in Prague Wednesday, in line with the overall market.
(Source: Total Telecom)
Telefonica O2 Czech Republic AS, or T-O2, the country's largest telecommunications operator, Wednesday posted a 24% drop in first-half net profit as sales continued to suffer from the economic downturn.
T-O2, which is majority owned by Spain's Telefonica SA, said net profit in the six months to June 30 fell to CZK4.35 billion ($228 million) from CZK5.72 billion a year earlier.
T-O2's revenue was CZK27.89 billion in the first half, down 6.4% from CZK29.79 billion in the year-earlier period.
Although the company recorded a 18% year-on-year drop in its operating income before depreciation and amortization, or OIBDA, to CZK11.21 billion in the first half, it reiterated its outlook for full-year OIBDA to fall between 5% and 9% for the whole year.
T-O2 shares closed down 0.4% or CZK1.5 on the day at CZK428.5 in Prague Wednesday, in line with the overall market.
(Source: Total Telecom)
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