FT: Q1 net profit down on TV-related costs

29 Apr 2009

France Telecom (FT) reported a 4.4% drop in first-quarter profit, adversely impacted by costs related to buying programme content for its new TV service in France. Group earnings before interest, tax and depreciation and amortisation (EBITDA) fell from EUR4.63 billion (USD6.04 billion) in Q1 2008 to EUR4.3 billion a year later, on sales which fell 2.6% to EUR12.69 billion from EUR13 billion; the revenue figure was less than the EUR12.84 billion estimated by analysts in a Bloomberg poll. Nonetheless, the company repeated its March forecast to maintain free cash flow at the 2008 level of EUR8 billion through to 2012.

France, Orange Group