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Vimpelcom maintains outlook as Q2 revenues fall 11%
2014-08-06 09:11:00| Telecompaper Headlines
(Telecompaper) Vimpelcom reported second-quarter results lower, hurt by the difficult economic conditions in key markets such as Italy, Russia and Ukraine. Revenues fell 11 percent to USD 5.067 billion, and EBITDA was down 14 percent to USD 2.076 billion. On an organic basis, revenues fell 6 percent, with a 9 percent fall in Italy, Russia down 6 percent, Africa & Asia declining 4 percent and Ukraine 5 percent lower. Only the CIS region showed growth, with revenue up 4 percent year-on-year. Net profit plunged to USD 100 million from USD 573 million a year earlier, hurt by higher tax payments. Vimpelcom said it expects net profit to improve by USD 500 million this year due to lower interest payments after the refinancing of Wind and the sale of Djezzy in Algeria. The latter is still expected to close by year-end and the proceeds will be devoted to debt reduction. Net debt is expected to drop to 2.4 times EBITDA by year-end, from 2.6 at the end of June. Vimpelcom also maintained its outlook for a low to mid-single digit annual drop in revenue and EBITDA in 2014 and capital expenditure at 21 percent of revenue. In the first half of 2014, the company spent USD 1.743 billion on capital equipment up 26 percent from a year earlier, while operating cash flow fell over the same period by 29 percent to USD 2.421 billion. The company said the high investments are needed to support the growth in mobile data services. Mobile data revenue was up 19 percent year-on-year in Q2, while the total mobile customer base rose by 2 percent to 220.6 million.
Tags: fall
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maintains
Telefonica posts Q2 organic sales up 1.3%, maintains outlook
2014-07-31 08:26:00| Telecompaper Headlines
(Telecompaper) Telefonica reported second-quarter revenues down 11.8 percent year-on-year to EUR 12.73 billion, hurt by continued weakness in its home market, divestments, exchange rates and regulatory effects. OIBDA fell 15.0 percent to EUR 4.13 billion, giving a margin of 32.4 percent. Excluding the sale of its Czech and Irish operations, Telefonica's organic revenues rose 1.3 percent, and OIBDA was down 0.7 percent. While revenues in Spain were still down 9.1 percent, the UK grew by 0.1 percent on an organic basis, Brazil was up 1.0 percent and the rest of Latin America increased revenue 11.3 percent. Net profit increased 4.9 percent year-on-year to EUR 1.21 billion. Telefonica said it was starting to see the benefits of increased network investment, with accelerated growth in mobile data and steady expansion of the TV and fibre customer bases. Capex was up 27.2 percent on an organic basis in the first half of the year to EUR 3.52 billion, while operating cash flow fell 13.5 percent to EUR 4.53 billion. Ne debt was up by EUR 10 billion in Q2 due to the dividend payment, reaching a total EUR 43.79 billion at the end of June. Including the proceeds from selling O2 Ireland, which closed in July, net debt was at 2.43 times EBITDA. Telefonica said the first-half results support its full-year outlook for stable organic revenues, a drop in the OIBDA margin of 0.9 percentage points year-on-year and capex at 13.7 percent of revenue.
Tags: sales
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KPN maintains outlook as Q2 sales fall 7.1%
2014-07-30 08:51:00| Telecompaper Headlines
(Telecompaper) KPN reported second-quarter revenues down 7.1 percent to EUR 2.00 billion. The decline slowed from 9.8 percent a year earlier, but the Dutch operator continued to suffer from difficult conditions in the mobile and business markets. EBITDA was still up 41 percent year-on-year thanks to the release of a pension provision. Excluding that, EBITDA fell 19 percent to EUR 633 million, giving a margin of 31.6 percent. The margin was up slightly from the previous quarter but down almost 5 percent points from a year earlier. Net profit roughly doubled to EUR 346 million or EUR 0.08 per share, thanks to the pensions gain. As part of discontinued operations, KPN wrote off EUR 744 million on its German operator E-Plus, due to the fall in share price at Telefonica Deutschland. Including this, KPN had a net loss of EUR 180 million in the quarter. The sale of E-Plus to Telefonica is expected to close in the current quarter, leaving KPN with a 20.5 percent stake in Telefonica Deutschland. KPN said its cost reduction programme has led to the loss of 350 jobs and EUR 75 million in savings so far this year. KPN maintained its outlook for 2014 and 2015. It expects results to stabilise towards the end of this year, while capex is forecast at less than EUR 1.4 billion and the dividend at 7 cents a share in 2014. In 2015, capex will remain below EUR 1.5 billion and the company expects a return to growth in free cash flow.
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fall
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maintains
McCarthy maintains form
2014-07-25 15:58:35| Agriculture - Topix.net
She carded 40 stableford points at the Vatuwaqa golf course to continue her winning streak after winning the Goodman Fielder-sponsored monthly medal event last week.
Tight Race For Number Two M2M Cellular Module Vendor As Sierra Wireless Maintains Number 1 Position For 3rd Straight Year
2014-07-15 06:40:18| rfglobalnet Home Page
In the latest analysis from ABI Research, Sierra Wireless has maintained the top revenue position for M2M cellular modules for the 3rd straight year. This is the second year in a row it has maintained the top shipment position. The Market Data package provides both revenue and shipment estimates by vendor for 2013 as well as market share history back to 2003.
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