Telekom Austria announces dividend on the back of improved results

24 Mar 2004

Former monopoly operator Telekom Austria is planning its first ever dividend after narrowing its fourth quarter losses on the back of cost cuts and growth at its international wireless units. Net loss in 4Q 2003 shrank to EUR21.2 million, from EUR26.1 million the previous year. Group sales were up EUR10 million to EUR1.02 billion, with its wireless unit reporting a 5.5% rise in turnover to EUR519.9 million; Telekom Austria has recently expanded its cellular operations in eastern and central Europe as its domestic market approaches saturation. Consolidated net income for the full year 2003 increased tenfold to EUR134.2 million on the back of a 1.6% rise in revenues to EUR3.97 billion. The improved results mean the telco’s board will recommend the payment of a dividend in the region of EUR0.13 per share.