Telekom Austria gains EUR94.9 million as net profit

www.WirelessFederation.com/news: The financial results for the full-year 2009 has been announced by Telekom Austria in which the company has gained a net profit of EUR94.9 million, up from a net loss of EUR48.8 million a year earlier.

Due to the decline in the fixed line operations, the company’s revenues declined from EUR5.17 billion in 2008 to EUR4.8 billion a year later. Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 40.1% year-on-year, up to EUR1.79 billion.

According to Hannes Ametsreiter, CEO at Telekom Austria Group, the company’s focus on effective cost management in both segments and reduced operative expenses has enabled it to soften the impact of lower revenues on EBITDA and Telekom will continue to improve its offering in order to strengthen its competitive advantage.