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Telecom Italia net profit down sharply, sales fall 8% in Q1
2013-05-09 09:34:00| Telecompaper Headlines
(Telecompaper) Telecom Italia reported first-quarter revenues down 8.1 percent year-on-year to EUR 6.796 billion. Domestic revenues fell 10.1 percent to EUR 4.024 billion, and revenues from Brazil and Argentina were dampened by negative currency effects. EBITDA declined 10.1 percent to EUR 2.672 billion, and the margin dropped to 39.3 percent from 40.2 a year ago, hurt by a larger share of business from South America, where margins are lower, and higher smartphone sales. Net profit dropped to EUR 364 million from EUR 605 million in the year-earlier period. Capex fell slightly to EUR 878 million, and operating cash flow plunged to EUR 137 million from EUR 626 million a year ago, hurt by accumulated payments for the previous quarter. This led to an increase in adjusted net debt to EUR 28.77 billion from EUR 28.27 billion at the end of December. The operator still targets debt of less than EUR 27 billion by year-end, as well as flat revenues and a low-single digit percentage drop in EBITDA this year. In addition, the company approved the partial spin-off of its carrier services division Telecom Italia Sparkle, expected to be completed by the third quarter.
Telefonica underlying sales down 1.6%, net profit improves
2013-05-08 08:47:00| Telecompaper Headlines
(Telecompaper) Telefonica reported first-quarter revenues down 8.8 percent year-on-year to EUR 14.14 billion, hurt by exchange rate effects and divestments. On an organic basis, revenues fell just 1.6 percent, mainly due to cuts in termination rates. Latin America posted organic growth of 6.8 percent for revenues of EUR 7.23 billion, while Europe recorded a drop of 10.5 percent to EUR 6.68 billion. Group OIBDA fell 10.1 percent to EUR 4.57 billion and was down 0.1 percent on an organic basis, while net profit improved to EUR 902 million from EUR 748 million a year earlier, thanks to lower interest costs. Capex rose 13.4 percent to EUR 1.94 billion, as higher costs in Europe, primarily for spectrum in the UK, were offset by a 31 percent cut in spending in Latin America. Operating cash flow improved 9.6 percent to EUR 2.63 billion. Net debt was up by EUR 550 million compared to the end of 2012, at EUR 51.81 billion or 2.44 times OIBDA, due mainly to the Venezuelan Bolivar devaluation. However Telefonica said its recent refinancing meant its debt coming due was covered through 2014. The company reiterated its outlook for full-year results, for revenue growth, a lower OIBDA margin decline than the 1.4 percent drop in 2012, net debt of less than EUR 47 billion and capex at around 14 percent of sales.
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George Weston net profit rises to $162M in Q1; sales up 3.7 per cent at $7.49B
2013-05-07 16:05:42| Grocery - Topix.net
George Weston Limited has reported an almost 34 per cent increase in is first-quarter net earnings, attributing the improvement to a number of factors including foreign currency translation and amendments to its defined benefit pension plan.
Bharti Airtel quarterly sales up 9%, net profit falls 49%
2013-05-02 09:03:00| Telecompaper Headlines
(Telecompaper) Bharti Airtel reported revenues for the three months to March up 9.2 percent from a year earlier to INR 204.5 billion, and EBITDA improved 4.1 percent to INR 64.9 billion. The Indian operator's net profit for the fiscal fourth quarter was still down 49.4 percent to INR 5.1 billion, hurt by higher depreciation and amortisation, taxes and interest. Operating cash flow fell 23.1 percent to INR 29.6 billion, after capex increased to INR 35.2 billion from INR 23.8 billion a year ago. Airtel said it returned to positive customer growth in India, after two quarters of declines, with churn dropping to 3.2 percent and ARPU up by INR 8 on a sequential basis, helped by expanding mobile internet use and higher voice traffic. The company finished March with 196.13 million mobile customers in India and south Asia, up by 3.5 percent from December and 4.3 percent more than a year earlier. In Africa, the customer base grew by over 2 million in the three months to 63.72 million.
Bachoco Reports Quarterly Net Sales up Seven Per Cent
2013-04-29 02:00:00| ThePigSite - Industry News
MEXICO - First-quarter 2013 sales and EBITDA were up compared to the same period last year. Due an outbreak of avian flu in this accounting period, the company recognised a one-time charge of more than 220 million pesos (MXP).
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