Revenues up, profits down at T-Mobile Czech

5 Aug 2003

The Czech subsidiary of German cellco T-Mobile has reported net profits of CZK1.83 billion for the first six months of 2003, a fall of almost 30% on the corresponding period of 2002. The operator said the fall was primarily due to the fact it took a foreign exchange loss from the repayment in June of a substantial euro-denominated loan. It claimed that revenues for the six months actually grew by 15% to around CZK11.5 billion, despite the Czech mobile market nearing saturation with a penetration of around 86%. At the end of March 2003 T-Mobile Czech had 3.55 million subscribers, representing 40.5% of the sector, just behind market leader Eurotel Prague, a joint venture between Cesky Telecom (51%) and Atlantic West (49%), which had 3.95 million customers and 45% of the market at the same date.

Czech Republic