Netia Q2 loss smaller than seen, ups core guidance

7 Aug 2009

Polish telco Netia reported a smaller than expected second quarter net loss of PLN8.3 million (USD3 million) on lower than forecast costs, and pushed up its core profit guidance. The group raised its guidance for earnings before interest, depreciation, taxes and amortisation (EBITDA) for 2009 by PLN10 million to PLN275 million, but also trimmed its full-year sales forecast to PLN1.5 billion. ‘We uphold our course for posting net and operating profits in the coming quarters, with a very real perspective for attaining full-year net profit in 2010 and a wide stream of free cash flow,’ chief executive Miroslaw Godlewski said in a statement. Netia’s sales rose by more than a half year-on-year in the second quarter to PLN374 million and EBITDA stood at PLN69 million.