EuroTel boosts Cesky Telecom results

28 Oct 2004

Cesky Telecom has reported a 24% year-on-year increase in nine months revenues to CZK46.5 billion. EBITDA rose by a similar amount to CZK22.5 billion, while net income climbed 21.9% to CZK4.5 billion. Revenues from the group’s fixed line operations fell by 5% to CZK26.1 billion while those from its wireless operation, EuroTel, climbed 2% year-on-year to CZK21.9 billion.

The Czech government is currently finalizing plans to sell its 51% stake in the telco. A ministerial commission has recommended that the stake be floated on the international stock exchanges, rather than be sold to a single investor, but feelings across the government are mixed. The administration is expected to make a firm decision on its preferred method next month, ready for a sale early in 2005.