Telekom Austria Profits Down, CEE Operations Grow

Telekom Austria has published its financial and operating results for the quarter and six-month period ended June 30 2008. These results show an 18.6% year-on-year fall in net income, to EUR226mn, mainly due to the expenses incurred in acquiring Velcom in Belarus and the launch and roll-out of mobile operations in Serbia and Macedonia. The group posted revenues of EUR2.54bn in the first half of 2008; this was up by 7.7% from EUR2.35bn in the first half of 2007. EBITDA grew by 2.7% y-o-y in the first half of 2008, to EUR967.7mn, as a result of growth in international operations and the consolidation of Velcom.

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