Slovak Telecom net income drops 39%, EBITDA down 18%

5 Mar 2009

Slovak Telekom has reported that its 2008 net profit dropped by 39% year-on-year to EUR117 million (USD148 million), because of one-off events in 2007, writes Reuters. The Slovakian incumbent PSTN operator, a subsidiary of Deutsche Telekom, saw annual revenues rise by 0.8% last year to EUR1.03 billion, with sluggish fixed line performance bolstered by the growth of its wholly owned unit T-Mobile Slovensko, the country’s second largest mobile operator by users. EBITDA fell by 18.2% to EUR431 million, down from EUR527 million in 2007. Miroslava Majoros, CEO of Slovak Telekom, said, ‘Net profit is…significantly lower because it was positively influenced by the sale of TBDS (formerly Radiocommunications) in 2007,’ whilst company director Manfred Knapp told reporters, ‘Financial results are in line with plans and projections…The continuing rise in revenues is driven by T-Mobile.’

Slovakia, Slovak Telekom (ST, incl. T-Mobile, DIGI)