Unaudited Busine Report of the Telekom Slovenije Group for 0 - Revenues lower as expected; net profit up
28/02/2013
Even if we ignore the adverse economic conditions, which were more evident last year than in previous years in Slovenia and the countries of South-eastern Europe where Telekom Slovenije and its subsidiaries operate, global trends in the traditional telecommunications sector are anything but encouraging. Revenues generated by the primary services of fixed and mobile telephony thus continue to decline at the majority of leading operators. Growth in broadband services and mobile telecommunications is slowing.
Preliminary data indicate that the Telekom Slovenije Group generated EUR 793.1 million in operating revenues in 2012, a decrease of 3.8% compared with 2011. EBIT was down nearly EUR 1 million on 2011 to stand at EUR 62.3 million. EBITDA reached EUR 241.5 million or 30.4% of operating revenues. A net profit of EUR 43.5 million was generated, an increase of 28% or EUR 9.5 million on 2011.
Such operating results would not have been possible if processes did not continue last year to reduce all types of costs, comprehensively restructure operations and optimise processes, with the aim of ensuring the future commercial success and development of the Telekom Slovenije Group. The processes of restructuring and optimisation are not yet complete, but have brought significant savings over the last two years, estimated at more than EUR 35 million.
Another important piece of information regarding the long-term stability of operations is the reduction of Telekom Slovenije's debt. Major loans representing a burden to the Company were raised during the period of economic growth prior to the current crisis, when operations were expanded to foreign markets. Net financial debt was reduced by 15% or EUR 58.3 million last year, to stand at EUR 330.3 million at the end of the year.
Although the current economic situation is anything but favourable for intense investment activity, the Telekom Slovenije Group earmarked 39% more funds for investments in fixed assets in 2012 than it did in 2011. EUR 128.1 million was earmarked for investments at the Group level, while EUR 78.7 million was earmarked for the parent company Telekom Slovenije. Investments were thus equivalent to 16% of total operating revenues last year, which is comparable with the most successful operators in the European Union. The majority of last year's investments were earmarked for the construction and upgrading of networks, in particular third and fourth generation mobile networks, the shortening of the local loop and the construction of local copper-based networks and fibre optic networks for the needs of broadband internet access. Other investments were earmarked for new services such as cloud computing, digital advertising, management services, etc. Telekom Slovenije's investment policy also confirms its awareness of the need to technologically transform the Company, which represents the basis for its continued development and the provision of new services.
Among the most important investments started last year is the project to introduce LTE technology and fourth-generation mobile telecommunications. The latest and significantly faster mobile broadband data services will be offered soon in Mobitel's network. The aforementioned services are based on LTE technology, which will initially cover all major Slovenian cities. It should be added that the new network will also have a significant impact on the entire convergent network.
Telekoma Slovenije business expectations for 2013 are the following: CAPEX - around 130 million; EBITDA - do 245 million; net profit - 50 million.
LINK: | http://en.telekom.si/company/press-releases/article?aid=2515... |
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